Green Transformation for Insurance Companies
Regulatory compliance requirements are forcing insurance companies to embrace green transformation. However, today, it is no longer sufficient to process the requirements according to a catalog of criteria. Sustainability with all its facets is becoming a decisive competitive advantage.
msg has been a reliable partner to the insurance industry for over 40 years and is familiar with the developments in the market.
Do you have any questions?
With our partners, the msg group offers end-to-end support for sustainability and ESG
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Regulatory Requirements
- Many ESG requirements are regulatory binding
- Complete collection of currently applicable and pending ESG regulatory requirements (baselining) incl. GAP analysis
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Sustainability strategy
- Strategic ambition for positioning the company on both the asset and liability side of the balance sheet (i.e., investments and products)
- Corporate sustainability roadmap in own “operations” incl. claims
- Mapping of the sustainability strategy in the customer journey
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Sustainability Risks
- Consideration of the insurer's exposure to ESG risks with regard to financial assets, products and operations
- Deriving recommendations for actions
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Information Management
- ESG is a highly data-driven topic along the entire value added chain – it needs appropriate structures and processes
- Identification and connection of relevant data sources for overall transparency and control of ESG
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Identification of growth areas
- Sustainability business model: Business activities taking into account ESG innovations as an opportunity for growth
- However, identifying and successfully staffing the growth areas suitable for your company is challenging
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„However, companies are not always able to control their sustainability strategy effectively and in some cases only with considerable manual effort.”
Dr. Jürgen Zehetmaier
CEO – msg
ESG – MORE THAN “NICE TO HAVE”
For a long time, ESG, i.e., the criteria environment, social and governance, was only discussed in the context of regulatory requirements. In fact, as new legislative initiatives continue to emerge, this is becoming increasingly important, more comprehensive, and more concrete. In this interview, Dr. Jürgen Zehetmaier, member of the board of directors of msg and head of the insurance business, explains how important ESG actually is, why the systematic integration into one's own corporate strategy is not only necessary from a regulatory point of view but also is a critical competitive factor, especially for insurance companies and what role IT plays here.
The Interview is only available in German, if you have any questions please contact annemarie.von.weihe@msg.group
The Sustainability Barometer: Status quo of sustainability activities in the insurance industry
The topic of sustainability is omnipresent for private individuals and also for all participants in the economy. This applies in particular to the insurance industry, which can make a big difference with its investment and investment volume, which is equivalent to 50% of Germany's GDP by comparison.
With the Sustainability Barometer. Status quo of sustainability activities in the insurance industry, V.E.R.S. Leipzig GmbH and msg jointly surveyed the sustainability activities in the insurance industry at 25 largest insurance companies in Germany on the basis of freely accessible sources. Survey period: April – December 2022.
Based on a detailed questionnaire, the sustainability activities for a total of ten comprehensive topics were collected and compared. These topics included the strategic implementation of sustainability in the company, in capital investments, risk bearing and product development and claim management, among others.
The Sustainability Barometer is only available in German, if you have any questions please contact annemarie.von.weihe@msg.group
Vehicle market in a state of upheaval – Opportunities for insurance companies and end customers
With msg.GREENfactory, we are supporting the insurance industry with a product development portal designed for sustainability with connected direct emissions trading.
This creates additional potential for premium and product optimization in the motor vehicle market.
5 trends in sustainability
Regulatory compliance requirements are forcing insurance companies to embrace green transformation. However, today, it is no longer sufficient to process the requirements according to a catalog of criteria. Sustainability with all its facets is becoming a decisive competitive advantage.
Emission Quota Trading
Data and Data Economy
Information Management
Sustainability Preferences
ESG as Driver of Innovation
5 trends in sustainability
Regulatory compliance requirements are forcing insurance companies to embrace green transformation. However, today, it is no longer sufficient to process the requirements according to a catalog of criteria. Sustainability with all its facets is becoming a decisive competitive advantage.
Emission Quota Trading
Data and Data Economy
Information Management
Sustainability Preferences
ESG as Driver of Innovation
Why msg?
The topic of sustainability has played a central role at msg from the very beginning and is one of our seven corporate values.
We see sustainability as a symbiosis of ecological, economic and social commitment.
We have made sustainability a top priority and in 2020 established a CSR staff unit reporting directly to the executive board. To give just one example, 98.9 percent of the energy supplied to msg at our sites is already green. One of our sustainability targets is climate neutrality by 2023. Our voluntary accession to The Climate Pledge reinforces our sustainable actions.
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