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The insurance sector controls an incredible amount of capital. Just think about it - home, life, travel, medical, car and all the other forms of insurance we pay premiums for! All this money is fed into a giant investment portfolio, some of which is fluid capital to cover claims.
It is the underwriters that receive this capital and they usually hold traditional investment portfolios. These will often fund things such as fossil fuel exploration, which will ironically undermine our security in the future through climate change.
Learn how insuring differently as well as influencing underwriters can make a big difference in creating a sustainable world.
Impact of Influencing Insurance
We can choose to change what happens with the funds we put into insurance, in turn causing a titanic industry to think how they can help make our future better. If they invest more in sustainable technology and practices with their incredible portfolio of funds, more amazing projects will come to the fore.
With more projects backed by this massive industry, more ethical funds will be created, in turn enthusing more projects to be initiated.
How to Influence Insurance
There are two ways to influence the market. Firstly, simply choose an ethical insurance company to manage your insurance. Representing you as a client, these companies will fight to ensure the industry and underwriters make better choices for planet Earth.
The second way is to investigate underwriters and campaign for them to change their investment portfolio. As a customer or even as a citizen in a country of freedom of information, you can request for information about investment portfolios, draw up a list of demands and start a campaign to shift insurance investments.
Our community has shared some information about ethical insurance and we have a few recommendations of companies which will help support reform in this industry. Do share your knowledge so that we together can help use our collective powers to ensure for a better future.