Recommended Resources: Published materials relating to ESG, GHG, and the drive to Net-Zero. This “companion blog” provides links to published materials highlighted during the MGAA webinar in which Gamma LI – alongside partners at Sust Global and First Derivative – shine a light on climate change and the regulatory requirements to report on direct and indirect carbon emissions. A potentially onerous task for MGAs and insurers alike that we can help streamline.
KEY TAKE-AWAYS:
- Guidance from regulatory authorities exists, but if help is needed, know that help is available – starting that journey might only be a conversation away
- Don’t fence yourself (or your business) in – climate risk models are evolving – make certain your approach allows for flexibility
- Collaboration with (data and analytics) 3rd-parties has the potential to be synergistic – alongside gaining the benefit of learnings from across other sectors that are further into their journey (ie. banking, investment, and retail)
You can watch this Webinar On-Demand
KEY RESOURCES:
Various resources were highlighted during the session which we have provided links to for ease of reference:
If there is one source to refer to, then let it be this one. The bible…!
Additional materials are available on the link above in relation to Guidance on Metrics, Targets, and Transition Plans, as well as implementing recommendations.
Publication from the Bank of England (BoE) – alongside the Prudential Regulations Authority (PRA) – provides guidance in relation to applying approaches to take account of climate change within reporting operations. Additional material in the shape of the BoE’s
2022/23 business plan is also worth investigating.
Sets out the principals for sustainable insurance. Whilst these are global in nature, they form the basis for guidance published by Lloyds in the UK.
Published in December 2020, this is the original step by Lloyds in providing guidance with respect to setting targets for responsible underwriting and investment.
Published in October 2021, specific guidance for managing agents in the relation to the industry’s drive to achieve net-zero by 2050.
Whilst it’s important for insurers/MGAs/investors to be aligned, we understand how overwhelming this guidance may be to implement.
Or even just knowing where to start.
At Gamma Location Intelligence, we are happy to have a conversation as to what a first step in that journey might look like – whether we are part of that solution now, in the future, or just as a shoulder to lean on.
We may not have all the answers, but we have the flexibility to make the process more manageable and the agility to ensure that you can evolve in line with change.
OR
@ 2022 Gammali.co.uk by Jason Day
About Gamma Location Intelligence
Gamma Location Intelligence (Gamma LI) is a cloud hosted solutions provider that integrates software, data and services to help our clients reduce risk through location intelligence. Established in Dublin, Ireland in 1993, and with offices in Manchester, UK and Bilbao Spain, the company has expanded to become a global provider of cloud-native location intelligent systems and services. Gamma LI’s Perilfinder™ risk mapping platform provides property underwriters with access to trusted property-level risk data easily, quickly and accurately.
