“The dialogue with society will be crucial for our understanding of risk.”

Allianz has signed the UN Principles for Sustainable Insurance (PSI). In an interview with allianz.com, Clement Booth, Member of the Board of Management of Allianz SE, explains what this means for customers.

 

Why is ‘sustainable insurance’ important to Allianz?

 

Our business is long-term responsibility. Our clients and the insurance industry are confronted with major long-term threats like demographic change, global warming, insufficient access to financial solutions, data and food security. In order to deliver for clients we need to be able to assess and manage those risks on their behalf. But it’s also an opportunity to differentiate ourselves from competitors and protect ourselves in the long-term.

 

Will Allianz be able to deliver?

 

So far, yes. Allianz is the insurance sector-leader in the Dow Jones Sustainable Index (DJSI). Our clients value the security we were able to offer during the financial crisis and trust our crisis-resistant business model. Allianz is a front-runner in climate protection – offering 130 green products, being one of the largest investors in renewable energy as well as being climate-neutral. We’re also a leader in innovative solutions such as agro- and micro-insurance. Our core expertise is risk management, but we need to be constantly focused on changing economies and society. The dialogue with our customers, shareholders, employees and other stakeholders in society will be crucial for our understanding of risk.

 

How can you help your clients prepare?

 

We have learnt particularly from our dialogue with key expert non-governmental organizations in 2012 that our approach to taking care of the environmental and social impact of our clients and business would not be sufficient for the future. The foundation of our ESG Board in late 2012 and the collaboration of a cross-functional working group of 50 Allianz experts, non-governmental organizations and other experts during 2013 led to a pilot ESG system covering 13 sensitive business areas. Beginning in 2014 these ESG guidelines will cover our business globally and help us to work with our clients on sustainable solutions for their risks.

Clement Booth, Member of the Board of Management of Allianz SE: "Allianz is the insurance sector-leader in the Dow Jones Sustainable Index (DJSI). Our clients value the security we were able to offer during the financial crisis and trust our crisis-resistant business model."
Clement Booth, Member of the Board of Management of Allianz SE: "Allianz is the insurance sector-leader in the Dow Jones Sustainable Index (DJSI). Our clients value the security we were able to offer during the financial crisis and trust our crisis-resistant business model."

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Nicolai Tewes
Allianz SE
Phone +49.89.3800-4511
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