Collaboration with (inter-)governmental and academic institutions
In recent years, we have collaborated with various (inter-)governmental and academic institutions both to promote effective approaches to sustainability challenges and to share our expertise on managing specific risks.
Our work with (inter-)governmental agencies to promote effective sustainability responses
- In Europe, we continued our engagement with regulators to highlight the important role insurers play in supporting the transition to a low-carbon, more resource-efficient and sustainable economy in line with the EU’s 2018 Sustainable Finance Action Plan. For example, Swiss Re was selected to be part of the European Commission Technical Expert group, specifically to assist with the development of low-carbon benchmarks. We provided input to the European Commission’s study on the role of insurance in weather-and climate-related disaster risk and their consultation to evaluate Member State action in response to the Climate Adaptation Strategy, and we participated in climate change focused regulatory roundtables hosted by national regulators (eg the UK PRA).
- In the US, we have maintained regular dialogue with the National Association of Insurance Commissioners (NAIC), principally on climate change and natural catastrophes.
- In the Asia-Pacific region, we are participating in an industry-wide working group with the Monetary Authority of Singapore to develop guidelines for sustainable insurance. And in Australia we are part of an industry-led stakeholder collaboration developing open-source standards for projecting future climate-related repair and replacement costs of buildings and infrastructure.
Our work with (inter-)governmental agencies to share risk management expertise
- With Global Partnerships, we have a team that works strategically with public-sector bodies to improve risk resilience:– directly with sovereigns or sub-sovereigns and their agencies, recently with the Pacific Alliance (Chile, Colombia, Peru and Mexico) to structure an earthquake cat bond, with the Federal Emergency Management Agency (FEMA) to create a reinsurance cover programme for its National Flood Insurance Program, as partner of the World Bank with the Philippine government to develop an earthquake and typhoon cover for exposed provinces, with the government and prefectures of two Chinese provinces to establish major natural catastrophe insurance schemes, and with the UK government as part of a programme set up to make flood insurance more affordable for homeowners;
- with development agencies such as the United States Agency for International Development (USAID), the UK’s Department for International Development (DFID), the Swiss Agency for Development and Cooperation (SDC), the World Bank, the Asian Development Bank (ADB), the Inter-American Development Bank (IADB) and the German Development Bank (KfW).
- We have regularly contributed to platforms such as the World Economic Forum, B20, G20 and G8 to share our insights on key risks, and have supported the United Nations Framework Convention on Climate Change (UNFCCC) process.
Working with academic institutions
Through Swiss Re Institute, we build and manage partnerships with world-class academic and research institutions, guide Swiss Re’s internal capital allocation and business steering processes and provide our stakeholders with cutting-edge risk research.
- We support the ETH Zurich Risk Center (www.riskcenter.ethz.ch), which aims to advance a holistic, scientific approach to assessing and managing risks and educating a new generation of researchers;
- We support Oasis (oasislmf.org), an open-source cat modelling platform free to use by anyone. It is owned by the re/insurance industry, with more than 40 re/insurance companies as members;
- With the Institute of Insurance Economics at the University of St. Gallen, HSG (www.ivw.unisg.ch), we conduct industry-wide studies to better understand market dynamics.
- With the London School of Economics (www.lse.ac.uk) we conduct research on macro resiliency;
- With the University of Peking in Beijing (www.pku.edu.cn) we have carried out an economic analysis of poverty, insurance and resilience;
- We collaborate with the Cyber Policy Initiative, Stanford University (fsi. stanford.edu/cyber), which conducts research on cybersecurity, governance and the future of work.
Take a look at our website for further information on our collaborative projects: www.swissre.com/institute/partnerships.html