Developing and scaling up the integration of the next generation of risk models requires cross-sectoral collaboration, and the insurance industry plays a critical role as risk managers and investors. This was a key takeaway of The Geneva Association's 2019 Climate Change Forum held 11–12 July in London, sponsored by Tokio Marine Holdings.

Applying behavioral economics can help reduce the enormous barrier to people buying insurance – their cognitive biases – that causes the protection gap.

This interview accompanies the research report Underinsurance in Mature Economies: Reasons and remedies. It was conducted on the sidelines of the 46th Annual General Assembly in Buenos Aires.

Insurance protection gaps in mature markets could be narrowed by reinforcing trust in insurers, reveals a survey commissioned by The Geneva Association. The research report Underinsurance in Mature Economies: Reasons and remedies distils a number of takeaways from the survey's results and proposes a framework of five factors that influence underinsurance: institutions, sociodemographics, economics, behavior and culture. 

The Geneva Association adds the CEOs of Aviva, Ping An and Prudential, as well as the Chairman of The People's Insurance Company of China, to its Board of Directors.

The Geneva Association and the International Insurance Society announced today that Alexander Braun, Sebastian Utz and Jiahua Xu, hailing from the University of St. Gallen in Switzerland, have won the Shin Research Excellence Award for their paper Are Insurance Balance Sheets Carbon-Neutral? Harnessing Asset Pricing for Climate-Change Policy.