New research published from Capgemini and Efma’s recent World Property and Casualty Insurance Report reveals that climate change is hurting the insurance industry, and that insurers need to change their business models to achieve climate resiliency.
The inaugural report titled – “Walking the Talk: How insurers can lead climate change resiliency”, addresses the impacts on climate resiliency within the insurance industry.
The report highlighted how globally, economic losses driven by climate change have increased by 250% in the last three decades.
At the same time, 73% of policyholders rank climate change among their top concerns, while insurers mirror the concerns of their customers with about 40% ranking climate change as a top priority, with insurability and profitability as leading climate-related issues.
