Zurich Resilience Solutions: Supporting customers to build resilience beyond insurance

Zurich Resilience Solutions – Protecting your business

Through Zurich Resilience Solutions (ZRS), we are combining our profound relationship with our customers and 150 years of industry experience to serve existing and new customers.  We look at the emerging risk exposure through a double materiality lens and help clients build robust risk management strategies that span both their physical and transitional risks, helping to close the insurance protection gap along the way.

As part of ZRS, Zurich’s Climate Change Resilience Services (CCRS) provides suite of solutions for helping businesses to identify, assess and quantify, mitigate for, and adapt to current and future risks associated with our changing climate.

Enhancing resilience for future

In 2022, India experienced a heat wave of more than 200 days. South Korea was wrapped in heavy rain. In Hong Kong, we also experienced the hottest July on record.  The impacts of climate change are increasingly prominent and affect our daily lives and business operations.

One of our customers takes this issue very seriously because its properties are located in Macau, which is vulnerable to natural hazards such as wind and flooding. To plan ahead, ZRS was tasked to assess the climate risk of the properties under different climate scenarios, providing insights into the development of climate risk management plans and resilience solutions.

Facilitating climate disclosure

Apart from assessing risks, businesses are increasingly having to disclose climate change-related risks, as well as their mitigation activities. A growing number of jurisdictions are developing or considering climate disclosure regulations, such as Switzerland, Japan, New Zealand, Australia and the United States. In Hong Kong, the Green and Sustainable Finance Cross-Agency Steering Group announced its plan to mandate climate related disclosure aligned with the Task Force on Climate-related Financial Disclosure (TCFD) Framework by 2025 across relevant sectors.

Climate-related disclosure is a challenge to corporates due to lack of data, expertise, and capability inhouse. Working with ZRS, companies can make climate-related disclosure a relatively painless process.

CCRS has been supporting a growing number of organisations with their TCFD reporting. CCRS can work with companies to formulate their response to TCFD, develop a roadmap and provide a methodology, data and modelling tools to assess climate change risks, as well as drilling down and developing solutions tailored to the sites identified as high risk.

For further enquiries, please contact Audrey Walls, Head of Distribution, Customers and Growth, Zurich Resilience Solutions, Asia at audrey.walls@zurich.com.sg.

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