EMBRACING GLOBAL CHALLENGES
Insurance companies in their function as risk managers, risk carriers and investors play a key role in addressing the global sustainability challenges. At the same time the insurance sector itself is facing disruptive changes caused by climate change, a continuous low-interest rate environment and digitalization. How can business models of (re)insurers become more sustainable and resilient? What can be done to avoid a widening of the protection gap? And how can a holistic framework contribute to mitigate systemic risks in the insurance sector?
At the 6th Conference on Global Insurance Supervision (GIS), which was held on 4th and 5th September 2019 at Goethe-University Frankfurt, 170 representatives from of the insurance sector, academia, supervisory and regulatory authorities from 40 countries discussed the key topics of sustainability from a European and international supervision perspective. The conference was organized by the International Center for Insurance Regulation (ICIR), the European Insurance and Occupational Pensions Authority (EIOPA), the Research Center SAFE (Sustainable Architecture for Finance in Europe) and the World Bank Group.
Key themes of the conference were:
Sustainable Business Models for Insurers
Fair Competition in a Disruptive Environment
Closing the Protection Gap
The Leading Role of Insurance in the Area of Natural Catastrophes and Demographic Change