Climate change – a new insurance risk driving sustainable practices

Tune into our podcast to find out if insurers can help shape a global response to climate change by the altering risk and reward models focused on sustainable practices.

What is sustainable insurance? It might begin with insurers adopting sustainable IT practices and minimizing their own carbon footprint with reduced travel and renewable energy sourcing. But that’s just the beginning, as our latest Future Sight podcast reveals.

Join Dr Seth Rachlin, Executive Vice President, Global Insurance Industry Leader, Capgemini, for a discussion with show host Ollie Judge, on the broader implications of sustainability in the insurance sector. Should insurers be using their large balance sheets to invest in sustainable assets and companies with acknowledged decarbonization practices?

Crucially, is there a way in which insurance products can be geared towards rewarding sustainable behaviors? For example, with 50% of all global insurance premium in the property and casualty sector being motor insurance, it’s no surprise that almost all insurers have some form of offering where they reward people for driving safely using in-car telematics. Seth and Ollie discuss whether those same telematics devices could also reward people for ecologically friendly driving.

Listen to our podcast to hear about the complex strategic decisions insurers must take in terms of allocating risk in ‘gray areas’ where certain sectors or geographies are unable or unwilling to subscribe to more sustainable ways of thinking.