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Sustainable Insurance Assessment: Towards an Integrative Model

Author

Listed:
  • 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)

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.

Suggested Citation

  • Flávio G. Nogueira & André F. P. Lucena & Roberto Nogueira, 2018. "Sustainable Insurance Assessment: Towards an Integrative Model," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(2), pages 275-299, April.
    • Handle: RePEc:pal:gpprii:v:43:y:2018:i:2:d:10.1057_s41288-017-0062-3
    DOI: 10.1057/s41288-017-0062-3
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    Cited by:

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    3. Eling, Martin, 2022. "Framework für Nachhaltigkeit aus Perspektive der Assekuranz," I.VW HSG Schriftenreihe, University of St.Gallen, Institute of Insurance Economics (I.VW-HSG), volume 70, number 70.
    4. Magdalena Zioło & Iwona Bąk & Anna Spoz, 2023. "Incorporating ESG Risk in Companies’ Business Models: State of Research and Energy Sector Case Studies," Energies, MDPI, vol. 16(4), pages 1-25, February.
    5. Agnes Pranugrahaning & Jerome Denis Donovan & Cheree Topple & Eryadi Kordi Masli, 2023. "Exploring Corporate Sustainability in the Insurance Sector: A Case Study of a Multinational Enterprise Engaging with UN SDGs in Malaysia," Sustainability, MDPI, vol. 15(11), pages 1-22, May.

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