Figure 1: Key sustainability themes covered and role of insurers

Rollover/touch chart for details

Energy transition

  • Move to solar and wind
  • Expand energy storage

Contributions by insurers

  • Holistic cover for grid-connected solar and wind farms
  • Extended warranties for defects/performance decay
  • Expertise in clean energy technology
  • Marine cargo, engineering (CAR/EAR) and public liability insurance

SDGs impacted

Industrial transition

  • Better efficiency & recycling
  • Alternative energy sources
  • Carbon capture and storage

Contributions by insurers

  • Data backed insurance pricing models for newer risks
  • Differentiated occupancy models based on risks
  • Risk assessment standards for new tech
  • Insurance for carbon removal

SDGs impacted

Agricultural transition

  • Improving crop yields
  • Promoting allied sectors
  • Better storage
  • Sustainable practices

Contributions by insurers

  • Reduce nat-cat protection gap
  • Wider cover and faster payouts
  • Parametric covers for warehouse utilization risk
  • Nature Based Solutions (NBS) for natural capital

SDGs impacted

Health risk mitigation

  • Health resilience during weather extremes
  • Fostering mental health
  • Modifying lifestyles
  • Reducing air pollution

Contributions by insurers

  • Wider cover to bridge protection gap
  • Parametric products for health risks
  • Disincentivize polluting industries
  • Mental health cover in standard policies
  • Nature-related, preventive and therapeutic solutions

SDGs impacted

Source: Swiss Re Institute