Data Drive: Covering climate risks

But, while 80% of individual and small commercial clients of the industry are aware of climate risks, just 8% of the insurers surveyed are meaningfully adapting their business plans in response.

A report by Capgemini and Efma posits insurers already focusing on climate-resilience will be “better positioned to generate deeper customer trust while boosting … profitability”.
A report by Capgemini and Efma posits insurers already focusing on climate-resilience will be “better positioned to generate deeper customer trust while boosting … profitability”.

With a 3.6X rise in insured losses and 2X in non-insured losses from adverse weather events over the past three decades, the climate-risk factor is increasingly becoming a weighty concern for insurers.

A report by Capgemini and Efma posits insurers already focusing on climate-resilience will be “better positioned to generate deeper customer trust while boosting … profitability”.

But, while 80% of individual and small commercial clients of the industry are aware of climate risks, just 8% of the insurers surveyed are meaningfully adapting their business plans in response.

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