Apólice Magazine by Kelly Lubiato - 11/17/2022

By Writing Team
Posted in December 22, 2022

ABGR promotes a risk and insurance seminar with the ASG agenda as a guide for discussions in plenary sessions.

The challenges of the ESG (Environmental, Social and Governance) agenda guided the choice of topics to be addressed at the XIV Seminar on Risk and Insurance Management, in around 20 plenary sessions that brought market representatives to debate with risk managers. “The great importance of the event is the return of risk managers to talk with the market. After three years, we restructured the Association and we have the opportunity to make this market reunion”, said Luiz Otávio Artilheiro, president of ABGR (Brazilian Association of Risk Managers).

The ESG theme is already quite present in companies, but managers want to understand with the market what reciprocity they will have when addressing ESG issues. “Companies are more mature in relation to this topic, but they want to see the return of their suitability, in terms of coverage, rates, policies. We also want to see the market adapt to the agenda”, says Artilheiro, adding that managers want to see if insurance companies will also respond to the new reality.

Adequacy to the ESG agenda

Nathália Abreu, executive sustainability manager at Zurich Brasil Seguros, spoke about sustainability in the claims area, because all initiatives in the area already automatically think about sustainability. “In addition to investing in the recycling of cell phones, the company already certifies mechanic workshops that deal with the company’s claims. Sustainability evolves and the company has a Sustainability Governance area, to discuss the topic in a structured and transversal way. It is not possible to talk about sustainability without mentioning engagement”, pondered Nathália.

Thomas Fabelo, manager of Solutions in ESG and financial institutions at AON, emphasized that it is necessary to have motivators for companies to do this, with the four C’s: conviction, convenience, compliance, competition. “Strategy is key to helping companies make the connection with risk management.”

Fátima Mendes de Lima, sustainability director at Mapfre, recalled that 10 years ago, sustainability was “hugging a tree” and it was very expensive. “Now, it is a business agenda, integrated into large companies, which shows that the agenda brings innovation to business and risk mitigation. Although the insurance industry is not polluting, there is a long and complex value chain, which makes us part of the process. We have to work on reducing the carbon footprint, contributing to clean energy and the circular economy.”

Daniela Cavalcante Pedroza, CEO of Ambipar VG, said that ESG and sustainability are redundant. Ambipar exists to regenerate, in three pillars: environmental, social and governance. The pandemic taught that everyone is part of the sustainability universe. The executive stressed that the ESG agenda must have a purpose. “If it doesn’t exist, it’s no use. Insurance companies got the vibe that it is necessary to manage risk very well, with the purpose of meeting the ESG agenda, looking at the entire production chain. Although the entire chain does not understand the importance, it is a policy that is here to stay. CVM (Securities and Exchange Commission) legislation already obliges companies to demonstrate the actions of each pillar”, highlighted Ambipar’s CEO.

Fátima Mendes pointed out that SUSEP circular 666, which deals with sustainability, is quite demanding, but came at a good time. “We are in a context of urgency, of profound changes in socio-environmental actions. The great difficulty of introducing sustainability into company management is that it must permeate the corporate culture”, pointed out the Mapfre executive.

Luciano Calheiros, executive director of Corporate Business and Health at Allianz Seguros, pointed out that ESG policies are no longer a differential for companies. Today, following guidelines that are environmentally, socially and governance conscious has become a prerequisite for accessing, for example, green investment funds and, in the case of insurance and reinsurance companies, the only way to gain access to the product portfolio of these companies that have the ESG policy among their values. “We’ve just rolled out a tool for crop insurance, where customers must go through a review of their ESG policies. We only offer these products to customers who follow the ESG agenda, as the agribusiness sector is very sensitive. We ended up certifying companies that follow ESG policies”, completed Calheiros.

Eduardo Andrade, superintendent of Compliance, Risks and Internal Controls at Junto Seguros, points out that companies that are more advanced in the ESG agenda achieve better placements for their risks, and this is positive in any analysis, with a bias towards strengthening over time. “More advanced companies with the pillars of the acronym ESG (ASG in Portuguese) demonstrate greater governance and reliability for managing their risks, representing, consequently, a better position within the analysis of an insurance company”. This privileged position is independent of the insured’s area of ​​activity, as this alignment shows evolution in all dimensions, with the globalized ESG agenda. “We have observed this even in the market valuation of the most advanced companies in the field”, added Andrade.

The event promoted by ABGR also includes EXPO Riscos 2022 and continues today (17) at the Centro de Eventos Pro Magno.