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Publication type: Article in scientific journal
Type of review: Peer review (publication)
Title: Green insurance : a roadmap for executive management
Authors: Stricker, Lukas
Pugnetti, Carlo
Wagner, Joël
Zeier Röschmann, Angela
et. al: No
DOI: 10.3390/jrfm15050221
Published in: Journal of Risk and Financial Management
Volume(Issue): 15
Issue: 5
Issue Date: 2022
Publisher / Ed. Institution: MDPI
ISSN: 1911-8074
Language: English
Subjects: Sustainability; Value chain; Green insurance; Insurance management
Subject (DDC): 332.38: Insurances
Abstract: Although the insurance sector is not closely associated with any of the sustainability dimensions, expectations may change rapidly. Against this background, we analyze the role of insurers, especially in the property and casualty areas, in addressing the environmental and climate risk challenges and developing a truly sustainable, environmentally friendly business model—green insurance. Building on the Principles of Sustainable Insurance set by the United Nations, we develop a comprehensive roadmap along the insurance value chain for executive management to design their company’s sustainability efforts, with special focus on property and casualty. The roadmap indicates actions to be taken as well as metrics to be managed in product development, marketing and sales, risk management and underwriting and operations and claims management towards green insurance. The existing products, risk appetite and operational processes must be reviewed to support sustainability goals and include the full portfolio of activities, including claims. The time to act is now, the sustainability journey is complex and the proposed business model transformation should provide benefits for early movers.
Fulltext version: Published version
License (according to publishing contract): CC BY 4.0: Attribution 4.0 International
Departement: School of Management and Law
Organisational Unit: Institute for Risk & Insurance (IRI)
Appears in collections:Publikationen School of Management and Law

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