We support our insurance customers in reducing climate-related damage and risks through adaptation and low-carbon developments. This is particularly important as natural catastrophes increase due to climate change. We are piloting new approaches that combine insurance protection with measures that strengthen resilience and promote positive behavioral change. This includes incentivizing people and businesses to reduce risk, for example through advice programs.
On the insurance side, we invest in data and technology to better understand the natural catastrophe perils that impact our clients. Because many people still do not have any insurance at all, we also collaborate with our peers, governments and civil society to help close the protection gap in vulnerable parts of society. Lastly, we support scientific research and innovation that improves society’s understanding of climate-related risks, for example through the Allianz Climate Risk Research Award.