Our strategic partner we2sure, explains the long term strategy which corporates should adopt
The UK faces the colossal challenge of converting 4% of homes to net-zero emissions annually to achieve net-zero by 2050. Home and motor insurance underwriters grapple with climate change risks, but the industry struggles to assert authority while insuring high-carbon homes and facing surging costs for battery electric vehicle (BEV) motor insurance. While sustainability regulations loom, underwriters, including We2Sure, showcase diverse approaches. Scope 3 emissions, constituting over 96% of total insurer emissions, underscore the need for enhanced corporate strategies and governance. The challenge prompts insurers to build climate resilience, gather data, adapt products, implement tactical initiatives, and prepare personnel and governance for a challenging yet rewarding net-zero underwriting journey.
Read the article on net-zero underwriting, sustainability strategies, and innovative approaches by insurers, including insights from We2Sure, at https://thejournal.cii.co.uk/2024/02/23/insuring-sustainable-future
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