Climate Change Risks and Opportunities Today (174)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 23 January 2022

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

As the financial risks from climate change continue to increase, insurers are having to come to terms with both the short-term impact of large catastrophe events and new regulatory requirements. Podcast 174 features insights from our Climate Change Risks and Opportunities Today live event, sponsored by S&P Global Market Intelligence, which focused on practical solutions and real examples of how insurance is responding to a changing landscape and evolving risks. Recorded live at CodeNode in London, Matthew talks to: Raphael Zindi, Product Manager | Segment Lead, EMEA Insurance, S&P Global Market Intelligence Chris Illman, Head of Responsible Business, Beazley Dana Foley, Head of Catastrophe Research, Chaucer Group Christopher Perceval, Head of ESG Business Development, EMEA, S&P Global Sustainable1 This episode also features additional insights from Fathom’s Chief Operations Officer Dr Andrew Smith and Tom Philp, CEO of Maximum Information. Talking points include: Building risk models for Environmental, Societal and Governance (ESG) performance ESG ratings and rewarding clients - how to encourage climate conversations Reaching net zero - identifying relevant data and mapping portfolios Disclosing climate credentials - the right questions for underwriters to ask Transition risk - what it is and how to track the financial implications If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. Sign up to our newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. The Learning Objectives for this podcast are: Understand some of the possible solutions to tackle climate change challenges for the insurance industry Explore the current insurance ecosystem addressing climate change risks Discuss increasing complexity of regulatory environment around climate change and its impact on how insurance can respond to these shifting risks If your organisation is a member of InsTech London and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 174 page of the InsTech London website or email [email protected] to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Well, it seems like everyone has their predictions out now for 2022. Us too, by the way,
0:18.5	in case you missed last week's episode, well worth a listen.
0:22.6	One area we're all going to be focusing on this year is understanding the impact of climate change.
0:27.6	Now, we've all known about the risk of climate change for many years, but up until recently,
0:31.5	the short-term impact on insurers was considered to be rather limited.
0:35.8	But that's all changing now. Investors, regulators and
0:38.7	advocacy groups of all types are shifting the focus on what changes insurers can and need to make
0:43.8	in a typical 12-month business cycle. We're currently wrapping up our report, exploring what the
0:48.8	options are for insurers that want to measure and share their analysis of their own physical
0:53.9	and transitional risks and their clients in their own physical and transitional risks and
0:55.1	their clients in their investment portfolio, underwriting and business operations.
1:00.1	More on that soon, but to give you a flavour of what's happening this week, I've been listening
1:04.2	to the recording of our event at the end of last year, supported by S&P, on the topic of
1:09.5	climate and risk, the move to decarbonisation and other
1:12.7	ESG related topics. Well, we had some great content that evening, but I am very glad we did
1:17.7	record it, and I now have a chance to bring you the highlights, but broken up into rather
1:21.5	easily at digestible chunks. Even if you were there with us on the night, and well over 100
1:26.2	people were, I think you're going to welcome a chance to hear this again.
1:28.9	I certainly did.
1:29.9	And better still, we've used quite a bit of this content
1:31.9	to inform our latest report on this topic.
1:34.6	Well, that's in Stead London, the GIF that keeps on giving.
	...

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