Sustainable Insurance Assessment: Towards an Integrative Model

Flávio G. Nogueira (), André F. P. Lucena () and Roberto Nogueira ()
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Flávio G. Nogueira: The Alberto Luiz Coimbra Institute for Graduate Studies and Research in Engineering of The Federal University of Rio de Janeiro
André F. P. Lucena: The Alberto Luiz Coimbra Institute for Graduate Studies and Research in Engineering of The Federal University of Rio de Janeiro
Roberto Nogueira: The Federal University of Rio de Janeiro

The Geneva Papers on Risk and Insurance - Issues and Practice, 2018, vol. 43, issue 2, No 6, 275-299

Abstract: Abstract This paper investigates the corporate social responsibility of insurance companies. The assessment procedures available today do not use environmental, social and governance (ESG) risk variables. We propose an integrative model to understand how progress in ESG risk underwriting can influence the management of ESG issues in insurance operations. This model was developed and tested by conducting a survey of 98 insurance professionals in Brazil. The model indicates only environmental and governance constructs as measurement discriminants. We have found a positive relationship between company size and progress in ESG risk underwriting and ESG issues in insurance operation management constructs. Additional analysis of the gap between ESG risk materiality and product offer provides a road map for harnessing local opportunities.

Keywords: sustainable insurance; ESG risk assessment; Brazil; UNEP FI (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

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DOI: 10.1057/s41288-017-0062-3

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