Sustainability in the Industry

Insurance Companies

Discover sustainability leaders, best practices and solutions in the industry with score4more explore.

Impacts, Risks and Opportunities

Sustainability in Insurance Companies

The insurance companies have enormous leverage for sustainability. As important investors, they have the opportunity to direct the capital they manage into ESG investments and to protect companies that operate sustainably. This allows them to use market knowledge and economic power to transform “light green” aspirations into sustainable, positive social or environmental impact.


There is further potential in their core business of product design if, for example, insurers offer higher benefits to those customers who choose repairs instead of replacements in the event of damage, or choose particularly sustainable products when purchasing new ones. Point systems and reduced contribution payments can provide incentives for a sustainable lifestyle in everyday life. Insurance companies are impact companies themselves. Hedging against risks is of almost existential social and social importance for companies, but especially for private customers and families.

Insurance companies can have a very negative impact if they do not pay claims or confront their customers with lengthy processes. They achieve a strongly positive effect when they protect people’s social base through targeted risk hedging. Corporate responsibility also includes fair offer conditions, adapting benefits to the changing realities of life of the insured and simple, digital and transparent processes instead of a flood of paper and overly complex contractual conditions.


The industry includes, for example, life, property and accident insurance including brokers, reinsurance, pension funds as well as risk/damage assessment. The protection of health risks falls under the separate “health insurance” industry.

Industry Materiality

Key Fields in the Industry

Climate

Resources

Society

Learn more about industry materiality with fields, topics and criteria on score4more explore.

EU NACE Classification 

Industry NACE Classes

Unsure if the industry is the right one? A comparison with the EU’s granular NACE classification provides clarity.

Included NACE classes in the industry

65.11 – Life insurance

65.20 – Reinsurance

65.30.0 – Pension funds and pension funds

66.2 – Activities related to insurance services and pension funds

Still not sure, if the industry matches your business? Check other companies, which are classified. Register for free to check which sustainability frontrunner are included in the industry.

In Collaboration with trusted Partners