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What’s Keeping ESG Experts Awake At Night?

The Biggest ESG Challenges Facing the UK P&C Insurance Industry, 2022

Part 1 of a two-part Sheffield Haworth special report on ESG

ESG (Environmental, Social, and Governance) has become a significant priority for the insurance industry in recent years. Despite this fact – and the fact that ESG is not a new phenomenon – many within the industry seem to be struggling to get to grips with it. Many firms are largely focused on the challenges and implicit negatives of ESG rather than the potential opportunities for competitive advantage, brand reputation, and increased customer loyalty.

That’s why my team and I set out to better understand the industry’s attitudes towards ESG. We began with this survey of industry experts to get a range of expert opinion on ESG challenges. This is part one of a two-part study. Part two will be a deep dive with selected experts from InsurTechs, carriers, and brokers to look at the potential opportunities and emerging market opportunities within ESG.

This survey is very much geared towards regulatory challenges, both in terms of compliance and reporting. Some of the trends highlighted in this report are likely to have a major impact on hiring trends for ESG talent in the years to come. I hope you find this report both useful and thought-provoking.

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