Titel hier

presented by

John Doe

Date hereSOUTH AFRICAN INSURANCE ASSOCIATION

SUSTAINABILITY

THE SUSTAINABILITY OF FIRE

INSURANCE

Presented by

Susan Walls

AGENDA

1. Economic cost vs insured cost

2. South African property insurance

3. The importance of data

4. Insurer sustainability and relevance

5. SAIA projects aligned to sustainability

ECONOMIC VS INSURED

ECONOMIC VS INSURED

Factors contributing to the gap between economic and

insured losses

• Low insurance penetration– Socio-conomic differences between advanced and emerging

markets

– Public perception of risk and corresponding cost and protection

do not align

• Losses from risks beyond the limit of insurability– Risk retention, deductibles and cover limitations

– Climate change increasing the frequency and severity of events

• Unidentified and unknown exposures– Emerging risks, cyber, climate change

SA PROPERTY INSURANCE

ECONOMIC COSTS

FIRE DISTRIBUTION

RESIDENTIAL FIRES

SUSTAINABILITY

FACTORS WHICH CAN UNDERMINE THE

SUSTAINABILITY OF THE INSURANCE INDUSTRY:

Environmental: climate change, biodiversity loss and

ecosystem degradation, water

management, pollution

Social: financial inclusion, human rights,

emerging manmade health risks

Governance: regulations, disclosure, ethics and

principles, alignment of interests

SUSTAINABILITY

Principles for Sustainable Insurance

1. We will embed in our decision-making environmental, social and

governance issues relevant to our insurance business.

2. We will work together with our clients and business partners to raise

awareness of environmental, social and governance issues,

manage risk and develop solutions.

3. We will work together with governments, regulators and other key

stakeholders to promote widespread action across society on

environmental, social and governance issues.

4. We will demonstrate accountability and transparency in regularly

disclosing publicly our progress in implementing the Principles.

SUSTAINABILITY

SAIA PROJECTS

1. Fire risks project

2. Local Government Support Program

3. Drought / water crisis project

4. Agriculture PPP project

5. Seismic hazard and risk assessment for the

Gauteng province research

6. Insurer Data System

Titel hier

presented by

John Doe

Date here

Thank you!