COUNTRY FOCUS : SWITZERLAND

months . However , more needs to be done to combat the detrimental effects of climate change as only 8 % of insurers surveyed are insurance frontrunners or ‘ Resilience Champions ’ ( described in the report as those with strong governance , advanced data analysis capabilities , a strong focus on risk prevention and who promote resilience through their underwriting and investment strategies ).

A need to balance risk prevention with risk management

Insurers must redesign their technology strategy with product innovation , customer experience and corporate citizenship at the heart of it .

To ‘ walk the talk ’ on climate resiliency , insurers must revisit their own business models and balance risk prevention with risk management . The report findings suggest that a ‘ climate resiliency framework ’ is key to build the required capabilities within a changing risk landscape . It encourages insurers to rethink current risk assessment models , deploy risk prevention at scale and drive sustainable investment and underwriting strategies , moving beyond exclusions and divestments , to create a resilience ecosystem .

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