Asia needs to explore index Insurance and parametric solutions in its efforts to close the region's protection gap, according to the Monetary Authority of Singapore (MAS), Reinsurance News reports. 

“We must put in place mechanisms for the effective assessment, management, and transfer of disaster risks. Advances in technology, innovation, research, and market integration put us in a strong position to address these challenges,” Ravi Menon, MAS Managing Director, was quoted as saying.