THE INSURER OF THE FUTURE WILL:
* Use early warning technologies and new risk transfer mechanisms to support society in dealing with more frequent catastrophes.
* Tie coverage more closely to actions taken by a client to prepare for things like rising water or tougher storms.
* Use new data to customize protection, make instant payouts, and help customers cover related risks, such as in flood-prone areas.
* Engage clients earlier in risk management, mainly for cities and local governments, using actuarial models to manage climate risks, mitigate concentration of risk and develop comprehensive strategies.
* Invest in assets likely to limit risk, such as in resilience-enhancing infrastructure.
WHAT WE’VE DONE SO FAR
Allianz has made several bold moves to respond to climate change, including setting up an Environmental, Social and Governance (ESG) Board in 2012 and cutting investments in coal-based business models.