ESG (Environmental, Social, and Governance) in Insurance – Thematic Research

ESG can no longer be ignored. With significant evidence that companies with strong sustainability credentials are more profitable in the long run, the case for ESG in every industry is strong. Insurers should use their size and influence to encourage ESG progress in the sectors they insure and invest in.

Scope

Companies must take a holistic approach to sustainability that addresses all three of its major aspects: environmental, social, and governance. GlobalData’s ESG Framework helps clients build trust with society and set them on a path forward toward sustainable success for their companies and the planet.

Several tech trends are shaping ESG progress in the insurance industry. While the increased adoption of technology in the sector raises concerns over how data is used, technology also plays a role in assessing climate risk and improving insurance accessibility. These are two big ESG challenges insurers must tackle.

Underwriting and investment decisions will be the most impactful environmentally and socially. Withdrawing from carbon-intensive industries and developing products to close the natural catastrophe protection gap will improve the climate resilience of the global population. Divesting from industries with unethical practices and human rights violations will minimize insurers’ indirect social impact while encouraging investees to prioritize ESG.

Reasons to buy

This report is crucial to understand how ESG is changing and will continue to change the insurance industry. It will allow you to identify trends and track competitor activity in the ESG theme.

Benchmark your ESG strategy against competitors in the sector via access to several examples of successful sustainability initiatives across each of the E, S, and G categories.

Identify areas in which to prioritize ESG investment using our comprehensive analysis of the most important ESG challenges facing the insurance sector and best-practice approaches to mitigate these risks. Staying abreast of emerging ESG trends in the sector will help improve your sustainability credentials.

Companies mentioned

AXA, Allianz, Zurich, Ping An, Root Insurance, Lemonade, Tokio Marine, Swiss Re, China Life, AIG, Swiss Life, Munich Re, Metromile, The Hartford, Travelers, Aon, Geico, Aviva, RSA Direct Line, Zesty.ai, Anthem Chubb, Cigna, Deliveroo, Trov, Bikmo, Lloyd’s

Table of Contents

Executive summary

GlobalData’s ESG framework

Trends

ESG action feedback loop

ESG challenges in insurance

Case studies

ESG timeline

Companies

Sector scorecard

Glossary

Further reading

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