COUNTRY FOCUS : SWITZERLAND
Switzerland ’ s FinTech industry must find a way to demonstrate its commitment to sustainability or risk falling behind in the race to Digital Transformation . Here we examine two reports which explore how the country can do more to step it up , by utilising technology to achieve its sustainability goals .
Swiss organisations need to to sustainability to keep up w
Panorama of Zürich city , featuring Limmat river , Switzerland
A report published in May this year by Capgemini covered insights from various countries across the globe , including Switzerland , revealing that insurers need to fundamentally change their business models to achieve climate resiliency .
Capgemini Efma World Property and Casualty Insurance Report , reveals that climate change is hurting the insurance industry . It highlights that insurers who are focused on building climate-resilient business models will be better positioned to generate deeper customer trust while boosting their relevance and profitability . The inaugural report titled , Walking the Talk : How insurers can lead climate change resiliency , addresses the impact of one of the most pressing issues in modern times on the insurance industry .
Natural catastrophes have led to a 3.6x increase in insured losses and 2x increase in non-insured losses over the last 30 years . While this is concerning , it presents an opportunity for insurers to pivot and recalibrate to serve customers in a dynamic landscape , cites the report .
Future-focused insurers will embed climate risk mitigation strategies into their operating and business models
Fundamental changes are required to create customer-focused , resilient business models . The report found that more than 80 % of individual and small commercial clients of the insurance industry are keenly aware of climate influences and have taken at least one key sustainable action over the last 12
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