Sustainable insurance

The Sustainable Insurance Program is designed to bridge the gap between global sustainability principles and daily operational practices in underwriting and claims management by transforming sustainable development goals and the Paris Climate Agreement into tangible work mechanisms, assessing the environmental and social risks of clients, and formulating underwriting guidelines that consider carbon footprints and climate risks. The program uniquely focuses on “compensation ethics” and how the insurance sector can be a catalyst for sustainable behavior by linking compensation payouts to adherence to environmental standards, thereby contributing to the protection of insurance portfolios from the risks of “greenwashing” and increasing natural disasters.

Objectives of the Sustainable Insurance Program

The Sustainable Insurance Program aims to enable participants to integrate sustainability standards (ESG) into the insurance value chain, and to develop their skills in assessing climate risks and managing claims, ensuring the formulation of responsible underwriting and compensation policies that support the transition to a green economy and enhance the resilience of the insurance sector to global environmental and social challenges.

Target audience of the program

Underwriters, compensation managers, risk management officers in insurance companies, and sustainability officers in insurance companies

Competencies and skills gained from the program

• Understanding the general framework of sustainability and the Sustainable Development Goals.
• Understanding the concept of sustainable insurance and linking it to global frameworks (such as the Sustainable Development Goals and the Paris Agreement).
• Applying sustainability considerations in risk assessment during underwriting.
• Integrating environmental, social, and governance standards into compensation policies
• Distinguishing cases of environmental or social misuse that may affect underwriting or compensation decisions.
• Identifying global best practices in the field of sustainable underwriting and compensation.

Agenda of the Sustainable Insurance Program

Day One

• Introduction to sustainability
• Sectors with high environmental and social risks
• Analytical tools: Environmental performance index, carbon footprint assessment, climate risks
• Integrating sustainability standards in the insurance sector: Opportunities and challenges

The second day

• Analyzing claims in the context of climate-driven natural disasters.
• Cases of compensation denial due to unsustainable practices
• Ethics of compensation and beneficiaries’ rights within environmental frameworks
• The concept of sustainable insurance and its role in the green economy.
• Formulating underwriting guidelines and risk appetite in light of sustainability requirements
• The role of compensation management in supporting sustainable behavior.

Duration of the program

Two days