Insurers Propel Forward in Global Sustainability Rankings
Insurers Propel Forward in Global Sustainability Rankings
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In a remarkable evolution within the finance sector, insurance companies demonstrate a growing commitment to sustainability, outperforming many global industries, according to Capgemini's latest analysis.
The "Sustainability Transformation Trends" survey conducted by Capgemini places the financial services industry—encompassing insurance and retail banking—ahead of eleven other sectors, as they collectively boost their sustainability index by an impressive 30 points. This achievement surpasses industries such as healthcare, industrial manufacturing, and even energy and agriculture.
This index is derived from a comprehensive set of 93 queries that assess advancements in both environmental and social sustainability. A baseline score of 100 signifies average performance over a span of three years.
Capgemini reports that an encouraging 84% of the 2,152 surveyed executives acknowledged their organizations' alignment with emissions reduction objectives, with only 9% needing to catch up. Australian representation in the survey included input from 192 executive respondents.
Amidst a survey size that included 727 substantial organizations across 13 countries, the survey underscores substantial improvement in areas like sustainable design, circularity, and biodiversity.
Particularly noteworthy is Australia's commendable leap in its sustainability index, advancing from 100 to 120, and securing a superior score compared to major nations like the UK, US, and Germany. These findings signal Australia's consistent annual progress, as highlighted by Capgemini.
According to Cyril Garcia, Capgemini's lead in global sustainability services, water conservation, biodiversity, and circular practices now rank as essential business strategies. He emphasized the dual role of business leaders in fostering a sustainable economic shift.
Cyril Garcia articulated, “Today's leaders are tasked with reducing CO2 while also achieving cost efficiency. With burgeoning innovations in climate technology and emerging regulations, tangible results in sustainability are key to fostering consumer trust.â€
Such industry strides are indicative of the finance sector's role in paving the way to a sustainable future, a journey that continues to gain momentum, outlined in Capgemini's full report.
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Australia’s financial advice reform agenda has taken another important step, with industry attention turning to how simpler, more accessible guidance could help consumers make better decisions about insurance. For workers who rely on income insurance or salary continuance cover, the issue is more practical than political: many people hold cover they do not fully understand until illness or injury forces them to test it. - read more
Australia’s financial advice reform debate has moved back into the spotlight, with life insurers and advice groups continuing to argue that many people need simpler, more affordable help to understand the insurance they already hold. For income insurance customers, the issue is practical: cover can look straightforward on a statement, but the detail often sits in definitions, waiting periods, offsets, exclusions and claim conditions. - read more
APRA's latest life insurance claims and disputes statistics have again put the practical side of personal cover in front of Australian workers. While headline numbers often focus on the overall performance of life insurers, the data is especially relevant for anyone relying on income protection insurance or salary continuance cover to keep household cash flow steady after illness or injury. - read more
Recent complaints reporting from Australia's financial dispute resolution system has put a practical issue back in front of workers: the value of income insurance is not only in the monthly benefit promised, but in how clearly a policy works when a claim is made. - read more
Australia’s move to restrict the use of adverse genetic test results in life insurance underwriting is an important development for people who have been hesitant to explore personal cover. While the reform is usually discussed in relation to life insurance, it also matters for income insurance because many retail policies sit within the broader life insurance framework. - read more
Income protection insurance and workers compensation can both provide income support after illness or injury, but they work in different ways. This guide explains the key differences for Australian employees, contractors and self-employed workers. - read more
Income protection insurance can provide a regular replacement income if illness or injury prevents you from working. For Australians comparing policies, the key is to look beyond price and understand how benefit periods, waiting periods, exclusions, premium structures and claims conditions may affect the cover. - read more
Income protection insurance can provide replacement income if illness or injury prevents you from working. If you have a pre-existing medical condition, the application, policy terms and claims process may need closer attention because insurers assess health history when deciding whether to offer cover and on what terms. - read more
Income protection insurance can provide replacement income if illness or injury leaves you unable to work. The challenge is choosing cover that reflects your financial commitments without paying for features or benefit levels that do not suit your circumstances. - read more
Income protection insurance is a type of insurance policy designed to replace a portion of your income if you are unable to work due to illness or injury. This financial safety net can help cover essential living expenses, such as mortgage repayments, utility bills, and daily costs, ensuring you maintain your standard of living during tough times. - read more
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