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Climate Fintech is at the intersection of climate, finance, and digital technology. As climate change poses economic and political risks to the global economy, many financial service institutions are playing a key role in driving transformation. The notable imperatives are a) shift of investment dollars into renewable energy sources instead of oil & gas b) […]
The post The Bright, New World of Climate Fintech first appeared on Daily Fintech.
From floods and rising mercury to cold waves, climate-related events impact the insurance industry in multiple ways. A 2018 extreme freeze in the U.K. led to pay-outs for burst pipes of £194 million over three months. In the same year, an extreme heatwave saw over 10,000 homes in the U.K. claim for damage caused by […]
The post Lloyd’s Lab’s latest cohort tackles climate themes appeared first on Daily Fintech.
Part 1 discussed ways in which carriers are reorienting themselves with the long-term view on climate change. In this final Part 2, read about the differentiated approaches that leading insurtechs are adopting. John Neal, CEO of Lloyds market opines, “Climate is the ultimate systemic risk and represents the biggest single opportunity the insurance industry has […]
The post The Climate Change Conundrum Part 2: Insurtechs Unravel Solutions appeared first on Daily Fintech.
A study of insured losses over the last half century reveals that weather-related events have significantly escalated compared to non-climate perils. Between 2010 and 2019, global insured losses from wildfires increased by 500%. On the other hand, the humanitarian aid deficit grew from a little under a billion dollars two decades ago, to $4 billion […]
The post The Climate Change Conundrum Part 1: Insurers’ Maneuvers appeared first on Daily Fintech.