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ESG and sustainability are firmly on the insurance industry’s agenda and are creating a range of new challenges and opportunities for directors and executives.

Leading insurers are implementing strategies that deliver top- and bottom-line growth in sustainable, socially and environmentally defensible ways. This requires leaders to have a deep understanding of a broad new field, ranging from an awareness of new sources of demand for insurance to the detail of regulation in all the territories in which they operate.

Oxbow Partners is a leader in the field of ESG in the insurance industry with a profound understanding of commercial opportunities, technical issues (such as the use of new data in the underwriting process), social and governance trends, and of the global regulatory landscape. We provide a range of solutions covering board training through to developing strategies and policies and helping the technology team with ESG data.

WE CONNECT C-SUITE DECISION-MAKING WITH PRACTICAL, STRATEGY-DRIVEN CHANGE

Strategy: We help management teams understand their options and trade-offs and make robust decisions.

Operations: We use our industry expertise to build detailed, bespoke operating models and processes aligned to the specific features of your strategy.

Technology: We recognise that technology is a fundamental shaper and enabler of modern strategy and support with architecture design and vendor selection.

Strategic transformation: We help organisations transform by connecting strategy to delivery, ensuring that delivery both aligns to strategy and shapes it.

WHAT WE DO IN SUSTAINABILITY

Strategy

We help executive teams understand and prioritise opportunities and threats, find their “edge” and communicate compellingly to their stakeholders.
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Operations

We help executive teams build robust, scalable businesses and operating models, covering organisation design, key processes and governance.
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Technology

We help business executives understand how technology can boost their productivity, and technology executives build and deliver technology strategies and roadmaps aligned to strategic imperatives as well as helping them select vendors.
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Transformation

We help executive teams execute on their priorities by supporting them through a continuous cycle of strategic decision-making and detailed design and delivery.
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M&A

We help investors and corporates with commercial, operational and technology due diligence, deal preparation and execution, and post merger integration.
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OUR LATEST INSIGHTS

Sustainability, ESG and Insurance: Monthly Roundup

Sustainability, ESG and Insurance: Monthly Roundup

This month's topic: The difference between legacy players and new entrants in the markets approach to ESG

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Sustainability, ESG and Insurance: Monthly Roundup

Sustainability, ESG and Insurance: Monthly Roundup

February's topic: Carbon credits, decarbonisation and parametric insurance

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Gross Written Carbon Report

Gross Written Carbon Report

Are carbon credits the next billion-dollar insurance market?

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More insights

EXAMPLE ENGAGEMENTS

Supported senior leadership align on an ESG ambition

Our client, the leadership team of a Lloyd’s syndicate, had significantly diverging views on the ESG ambition. We worked with the team through a series of 1:1 discussions, workshops and executive meetings to help them find common ground and implement a strategic framework.

Developed an end-to-end ESG strategy

Our client is a European specialist insurer. We helped our client build and adopt an ESG framework. As part of the engagement, we conducted research into the ESG strategies of peer companies, advised on options, and ran a wide-ranging stakeholder alignment exercise. The strategy was accepted and adopted by the Board.

Built bespoke ESG training for a large global (re)insurer

Our client is a large specialty player. We developed an interactive training course for ESG, which has been rolled out in the business.

Developed a TCFD disclosure strategy

Our client is a large specialty insurer. We helped the client understand the disclosure strategy of their peers and develop their own approach, including key areas to develop given the changing regulatory and investment landscape.

Provided support for an ESG programme

Our client is a large Lloyd’s syndicate. The client’s ESG programme had stalled for a number of reasons including lack of expertise and capacity. We provided a roadmap for the client to deliver a series of quick wins, accelerate their ESG programme and create a more achievable roadmap and implementation plan.

Embedded ESG into underwriting

Our client is a growing specialty insurer. The executive team wanted to embed ESG underwriting disciplines into the underwriting processes. We proposed an approach to align on an ambition, socialise focus areas with key stakeholder groups and develop a programme for change.

Oxbow Partners combines granular expertise and a truly global perspective of this rapidly evolving, complex set of issues. Most importantly, however, I found the Oxbow Partners to be good listeners, collaborative and open minded; in sum, ideal partners.

Stephen Weinstein, former Chair, Bermuda Business Development Agency

RELEVANT PRODUCTS

Magellan

Magellan is our insurance technology navigator. Magellan contains detailed information on over 4,000 technology vendors targeting the global (re)insurance market. Magellan is designed to help business and technology professionals find the right short-list of companies to help with their specific technology requirements. We offer both a self-service subscription and a ‘Curated Search’ service delivered by our dedicated team of experts.
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Lead contact

Miqdaad Versi, Partner and Head of Sustainability

Miqdaad leads engagements on sustainability strategy and delivery for some of the world's largest (re)insurers. He has a wide network spanning the executive and sustainability leaders teams of large (re)insurers, industry bodies, and other organisations such as the United Nations Environmental Programme and the Insurance Development Forum.

Graduating with a first class degree in Mathematics from the University of Oxford, Miqdaad has a strong technical skillset, allowing him to dig beneath the surface to uncover the real problems facing the executive teams with whom he is working. He balances strategic and market knowledge with pragmatism to drive towards solutions that deliver for his clients.

As the founder of the Sustainability practice at Oxbow Partners, Miqdaad is the (co-)author of a series of landmark reports, including the ESG maturity of Bermudian (re)insurers, how ESG data is used in underwriting, and how the London Market supports the transition to net-zero. He is a regular commentator on the topic for industry seminars, podcasts and summits, and often provides comments to the press on topical issues.


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