Developing a Product & Service Strategy aimed at strengthening the Climate Resilience of Zurich Insurance’s commercial clients
With climate change impacts increasing in frequency and severity, along with the pressures from stakeholders on organizations to provide transparency and information to stakeholders, the potential impact of climate change on organizations continues to gain visibility by company risk managers and financial managers as each attempt to quantify and manage their risk profiles. In turn, many commercial organizations are relying on their insurers for support. Insurance companies are realizing that they have a crucial role to play in helping society effectively adapt to and mitigate climate change. Our team’s objective is to help Zurich Insurance better understand what other organizations are doing as best practices to overcome these challenges and to develop effective climate risk management strategies by analyzing the climate risk value chain in order to provide possible product and service offerings. Our methods will include conducting a thorough literature review of climate risk management strategies and performing stakeholder/subject matter expert interviews across Zurich Insurance and the wider climate risk management landscape. These insights will provide Zurich Insurance with an opportunity to achieve a strategic competitive advantage in the area of climate risk strategy and a go-to-market strategy approach to new products and services to assist their commercial clients.
Keely Bosn, MBA, MS; Katherine Cunningham, MBA, MS; Amelia Brinkerhoff, MBA, MS; Shirui Li, MS (EI)