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Climate risk modeling in the Orsa: survey launch

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Climate change is one of the biggest risk multipliers facing the world today, and is creating new demands on insurers to understand the financial impact of climate risk on their business.

There is an emerging need for insurers to produce asset and liability projections to respond to requirements in the own risk and solvency assessment (Orsa). This creates a need for scenario analysis to quantify the financial impact from physical and transition risk.

Insurers need an approach to scenario analysis which addresses the complexity and uniqueness of their business model since climate risk touches both sides of their balance sheet, as well as their business operations.

Contribute your views

We are sharing an invitation from Moody’s Analytics to take part in their survey, which takes around 8 minutes to complete. The survey seeks to capture the progress made to date by life insurance firms on climate risk modeling and its integration into the Orsa.

The survey report will cover:

  • Top priorities across the industry in relation to climate scenarios
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  • Current responsibility, approaches and levels of capability
  • Current ability to capture climate risk correctly
  • The quality of data and models being used amongst life insurers in relation to climate risk
  • Future requirements for climate risk and the Orsa

Contribute to the survey here: https://survey.alchemer.com/s3/6762077/Life-Insurance-Risk-Assessment-Climate-Scenarios

The deadline for responding is Friday 29 April.

All responses are treated confidentially, and to thank you for participating, you will receive an advanced copy of the survey report which will provide a benchmark against which you can assess your own preparedness.



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