Bite-size learning: Getting started with a materiality study
Sustainability risks take many forms – environmental, social, economic – so how as an insurer do you assess which factors are most important, or material, to your particular business? And how do you assess where the insurance business or portfolio has the biggest external impacts on the environment and society? This is known as double materiality, and the best way to quantify your top risks and impacts is to conduct a double materiality assessment.
AXA XL’s Global Sustainability Director, Suzanne Scatliffe, walks learners through the process in a module within the Sustainability for Insurers e-learning syllabus. In this excerpt, she outlines a few key actions (re)insurance companies of any size can take to get started.