'CRISIS often serves as catalysts for innovation, pushing industries to develop new technologies and approaches to meet emerging challenges as a result of urgent needs that drive creative problem-solving.' That was the message of Itai Green, founder and chief executive officer of Innovate Israel, at a recent media roundtable discussion hosted by Israeli Ambassador Ilan Fluss in Taguig City.

Naming climate change as one such crisis, Green observed that insurers face growing costs and challenges created by events such as wildfires, hurricanes and flooding. One solution is advanced technology that provides better services to their customers and improves operational efficiency. Internet-of-Things devices and drones help insurers anticipate major events and issue timely alerts to customers, potentially reducing the impact of disasters.