Travel Insurance Market Dynamics

🚨 A big UN report just launched: A powerful global resource for insurers, reinsurers & brokers navigating the net-zero transition. “Underwriting the Transition” is the first-ever guide specifically tailored to help insurance and reinsurance companies develop and disclose credible transition plans for their underwriting portfolios. Why it matters: While insurers have made climate commitments, clear frameworks for underwriting strategies have been lacking. This guide provides that. What’s inside: - A structured framework for transition planning - A checklist to assess credibility - Real-world examples from insurers, reinsurers & brokers - Practical insights on disclosure, strategy, and implementation By moving from ambition to action, this report helps the insurance sector lead the way in building a resilient, inclusive, and net-zero economy reaffirming its role as society’s risk manager. 🌍 This is the second deliverable in United Nations Environment Programme Finance Initiative (UNEP FI)'s FIT Transition Plan Project — following “Closing the Gap” launched at COP29 and it lays the groundwork for the next report on total balance sheet guidance linking underwriting and investment strategies, to be launched at COP30. Let's make COP30 a defining moment for insurance climate leadership. #TransitionPlan #Insurance #Reinsurance #Sustainability #NetZero #FIT #UNEP #EIOPA #JustTransition #Underwriting

Sustainability Transformation Journey 🌎 Sustainability transformation requires a strategic and systematic approach. Deloitte's transformation journey, while designed for insurers, provides a strong roadmap applicable across industries. It outlines critical steps to align business operations with sustainability objectives. The process begins with baseline assessments to evaluate emissions, risks, and material sustainability issues. Establishing a clear inventory of impacts and dependencies sets the foundation for data-driven decision-making. Risk assessment follows, identifying physical and transition risks. Understanding exposure to climate-related risks is essential for integrating sustainability into long-term business strategy and resilience planning. Strategic interventions bridge the gap between current performance and sustainability goals. This phase includes defining action plans, setting measurable targets, and aligning initiatives with evolving regulatory expectations. Financing mechanisms play a crucial role. Leveraging carbon markets, grants, incentives, and green bonds ensures that sustainability efforts are not just commitments but are backed by tangible financial resources. Governance structures must be established to maintain oversight and accountability. Integrating sustainability into decision-making frameworks ensures alignment with corporate objectives and compliance with emerging disclosure requirements. Performance measurement and continuous improvement are critical. Robust reporting frameworks such as TCFD, CSRD, and ISSB guide transparency, while monitoring mechanisms drive ongoing progress. Successful sustainability transformation is not just about compliance but about embedding sustainability into business strategy. A well-structured approach ensures resilience, long-term value creation, and alignment with global sustainability trends. Source: Deloitte #sustainability #sustainable #business #esg #climatechange

Strategic CSMs work renewals 6 months ahead of the due date. ⏳ They have time to de-risk accounts 🤝 They negotiate early and seamless renewals 🚀 They position growth opportunities aligned with value However, prioritising a large number of renewals can be challenging. The biggest mistake a CSM can make is spending too much time on the wrong customers and ending up with preventable churn. So... how can you work your renewals strategically? The best CSMs I know use the priority framework that looks at value vs. risk. 🤑 What's value? - How much the customer spends today - Their growth potential - How important the logo is for the business 🥵 What's risk? - How much value they are getting? - Are there critical product roadblocks? - How much friction are they experiencing? - What's their decision maker's sentiment? - Are there any competitors in the mix? Once you bucket customers into their respective value and risk profiles, you'll have a birds-eye view of your renewals. You can quantify how much falls into each bucket and make informed decisions on where to spend your time and energy. What I've seen yield the best results is: 1️⃣ Priority 1 is to de-risk high-value customers ahead of renewal. You have 6 months to turn around these customers before their renewal date. that's enough time to demonstrate value and regain trust. 2️⃣ Priority 2 is to secure the renewal and growth of healthy high-value customers. You have 6 months to position, demo, trial and negotiate the growth opportunity aligned with the renewal. This will give you the best chance of a seamless net-positive renewal, and it will decrease the chances of offering high discounts to close it in a tight timeline. 3️⃣ Priority 3 is to secure the renewal of low-value healthy customers. You should have an automated flow to help communicate value, validate risk and nurture the renewal of these customers. Wherever possible this should feel like a non-event. 4️⃣ Priority 4 is to turn around low-value, risky customers. The final piece is to find scalable ways to mitigate the risk of low-value customers. This is the most dangerous place, where CSMs get sucked in. Instead of working 1:1, CSMs should find the common themes across these customers and leverage other resources and scalable options like usage/adoption office hours to help them do more and get more value from your solution. This can be baked into your weekly blueprint, so you have focus time to work with a certain type of customer each day. The result? - Stop feeling burned out - Get better results - Achieve better work-life balance What's your strategy for working renewals strategically? 📥 If you're interested in scaling your Customer Success team, consider joining 8k+ CS Professionals who read my weekly newsletter on how to build and scale a CS Team [sign up in the comments section]. #customersuccess #CSM #customerexperience #renewals  #NRR

I am happy to co-author this article with Beatrice WEDER DI MAURO, President of the CEPR - Centre for Economic Policy Research, reflecting on the urgent need to engage in collective thinking and action to adapt our response to the challenge of insurability in the face of escalating climate risks. This article, which captures key convictions from our joint workshop hosted at Collège de France by the AXA Research Fund and CEPR - Centre for Economic Policy Research, couldn't have been more timely.   Devastating floods in Valencia, the wildfires in Los Angeles, the typhoons in Mayotte and La Réunion... These recent climate catastrophes show a clear reality: climate risks are intensifying and the protection gap for local communities and economies are becoming evident. Global economic losses from extreme weather events reached $320 billion in 2024, while in Europe, only 25% of economic losses were insured - leaving individuals, businesses, and communities vulnerable.    To address this, we need to enhance risk-sharing mechanisms and promote partnerships between public institutions and private companies.   Ensuring insurance accessibility and effectiveness is crucial. This can be done through: ➡️ Hybrid models, combining market mechanisms with public-private partnerships, to help ensure broad coverage and affordability. France’s CatNat regime and Switzerland’s hybrid model offer valuable insights. These models can be adapted to regions facing extreme exposure, such as sea level risks. ➡️ Greater investment in prevention and risk-sharing mechanisms. Initiatives like local municipal risk assessments can help small municipalities assess and mitigate local climate risks. ➡️ Impact underwriting, where insurers incentivize policyholders to adopt risk-reducing measures in exchange for lower premiums. ➡️ Public education on climate risks and stronger coordination between insurers, governments, and consumers to ensure preventive measures are taken seriously.   As we move forward, it's clear that policymakers, insurers, and society must work together to strike a sustainable balance between affordability and fiscal viability. This is not just about who pays the bill. It is about how we manage risk in an increasingly uncertain climate landscape. Let's continue to foster collaboration and innovation to close the protection gap and build a resilient future. 👇 https://lnkd.in/er6BkrtZ

As the challenges facing our planet evolve, our financial systems must evolve too. One of the innovations that I'm most excited about is in the insurance sector — working to insure nature the way we do other assets, like our homes.    The Nature Conservancy pioneered reef insurance in Mexico and Hawaii to fund rapid coral restoration after storm damage, delivering payouts to repair vital coral reefs and help coastal communities. 🪸 And this year, we launched a first-of-its-kind wildfire resilience insurance policy in California, rewarding communities for proactive forest management with lower premiums and deductibles. 🔥 This is what innovation looks like when we align financial systems with ecological health.     We’re redefining how we value nature by creating insurance solutions that recognize the real, measurable protection ecosystems provide. Explore more about why we need insurance for nature ➡️ https://lnkd.in/e-S_JnAB 📷 © Jennifer Adler

Is the world becoming uninsurable? 🌍🛡️ As climate disasters intensify, the insurance industry is standing at a crossroads. It’s no longer just about paying out claims; it’s about deciding which parts of our future are still viable. In our latest episode of Leaf Media Global, Laetitia Carle sits down with Martin Powell, Group Sustainability Director at AXA, to discuss how one of the world’s largest financial institutions is navigating the "intersection of risk and resilience." From his roots as an engineer and adviser to the Mayor of London to leading global strategy at AXA, Martin brings a unique, "realistic-optimist" lens to the climate crisis! Our key takeaways from this episode: 🏠 Building Back Better: How AXA’s “green guarantee” helps homeowners transition from gas boilers to heat pumps after a loss. 🌳 Investing in Nature: Why AXA is putting €1.5 billion into forests, oceans, and biodiversity as a core business strategy. 📉 The Transition Gap: Moving beyond "green-hushing" to set science-based targets for insured emissions. 🧠 A Message for Future Leaders: Why you should stop worrying about "doing a little" and start focusing on where your impact multiplies. "𝑰𝒇 𝒆𝒗𝒆𝒓𝒚𝒐𝒏𝒆 𝒅𝒐𝒆𝒔 𝒂 𝒍𝒊𝒕𝒕𝒍𝒆, 𝒘𝒆’𝒍𝒍 𝒐𝒏𝒍𝒚 𝒂𝒄𝒉𝒊𝒆𝒗𝒆 𝒂 𝒍𝒊𝒕𝒕𝒍𝒆. 𝑨𝒔 𝒂 𝒃𝒊𝒈 𝒄𝒐𝒎𝒑𝒂𝒏𝒚, 𝒘𝒆 𝒉𝒂𝒗𝒆 𝒂 𝒓𝒆𝒔𝒑𝒐𝒏𝒔𝒊𝒃𝒊𝒍𝒊𝒕𝒚 𝒕𝒐 𝒎𝒐𝒗𝒆 𝒕𝒉𝒆 𝒏𝒆𝒆𝒅𝒍𝒆 𝒃𝒚 𝒎𝒂𝒌𝒊𝒏𝒈 𝒃𝒊𝒈 𝒄𝒐𝒎𝒎𝒊𝒕𝒎𝒆𝒏𝒕𝒔." Whether you are in finance, sustainability, or just concerned about the future of our cities, this conversation is a masterclass in systemic change. 🎧 Listen to the full episode here: https://lnkd.in/eietgvWV #Sustainability #ClimateRisk #Insurance #ESG #GreenFinance #LeafMedia  #AXA

🌿 How Insurance Supports Climate Adaptation When it comes to building resilience to climate change, insurance can be a powerful partner to companies and governments. It offers not only financial protection, but also the tools, data, and incentives needed to adapt proactively rather than respond reactively. Here’s how: 🔹 Data for Decision-Making Insurers have vast climate and catastrophe data that can help governments, businesses, and communities make smarter planning and infrastructure choices. 🔹 Risk Pricing Signals By adjusting premiums based on exposure to climate risks, insurers send market signals that encourage climate-resilient behavior, like relocating from flood zones or retrofitting buildings. 🔹 Innovative Products Parametric insurance, microinsurance, and nature-based solutions (like mangrove protection for coastal communities) are real-world examples of insurance enabling quicker recovery and ecosystem resilience. 🔹 Finance for Adaptation Insurance-linked securities and public-private partnerships can unlock much-needed capital for climate-resilient infrastructure and early warning systems. 🔹 Community Support At the local level, insurance mechanisms can protect vulnerable populations from being pushed into poverty after climate shocks. 🔹 Protecting People, Not Just Assets Life insurance, critical illness cover, and employee benefits are essential to supporting financial security, mental wellbeing, and workforce resilience especially as health risks and socio-economic pressures increase. These offerings are part of how the industry supports the social dimension of sustainability. More than a risk carrier, insurance can act as a strategic advisor and enabler of both climate and social resilience, working alongside policymakers, businesses, and communities to navigate uncertainty and invest in long-term wellbeing. Also read: https://lnkd.in/dDtqydUM

We used AI to dissect 400 renewals at Gong. Here's how to win more MULTI-YEAR renewals, based on *only* what was surfaced in our wins. (Ranked by importance) (1) Start 9 months out from renewal. These take time. (2) Assess blockers to renewal. Be objective about this. They're usually in 1 of 4 categories: budget constraints, organizational change, adoption challenges, poor implementation. All overcomeable ^^ But you need time on your side. (3) Align to strategic value. You have to do enough discovery, and get deep & high enough in the organization, to get to their BIG BETS that span more than one year. Show how your product can help with ^ (4) Show current & FUTURE savings Show the deal they're currently on right now, and then show the savings when GROW with you. (Ex: Progressive discounts, flexible growth terms) (5) Show them you can deliver. Show them you've done it before, and can do it again. Comprehensive implementation plans w milestones, are so under-used.

𝗠𝗼𝘀𝘁 𝗯𝗿𝗼𝗸𝗲𝗿𝘀 𝗱𝗼𝗻’𝘁 𝗹𝗼𝘀𝗲 𝗱𝗲𝗮𝗹𝘀 𝗯𝗲𝗰𝗮𝘂𝘀𝗲 𝗼𝗳 𝗽𝗿𝗶𝗰𝗲. 𝗧𝗵𝗲𝘆 𝗹𝗼𝘀𝗲 𝗯𝗲𝗰𝗮𝘂𝘀𝗲 𝘁𝗵𝗲𝘆 𝘄𝗲𝗿𝗲 𝘂𝗻𝗽𝗿𝗲𝗽𝗮𝗿𝗲𝗱. 𝗨𝘀𝗲 𝗖𝗼-𝗣𝗶𝗹𝗼𝘁 𝗜𝗻𝘀𝘁𝗲𝗮𝗱 In 2026, preparation is the new competitive advantage. This is where Microsoft Copilot changes the game. Not for writing social posts. For securing more business. Let me show you a real use case. A motor client’s renewal is due in 90 days. 𝗢𝗹𝗱 𝘄𝗮𝘆: • Broker searches emails. • Scrolls through notes. • Tries to remember last year’s objections. • Sends generic renewal reminder. Client shops elsewhere. Now with Copilot inside Outlook + CRM: Broker types: “𝘚𝘶𝘮𝘮𝘢𝘳𝘪𝘻𝘦 𝘭𝘢𝘴𝘵 12 𝘮𝘰𝘯𝘵𝘩𝘴 𝘰𝘧 𝘪𝘯𝘵𝘦𝘳𝘢𝘤𝘵𝘪𝘰𝘯𝘴. 𝘏𝘪𝘨𝘩𝘭𝘪𝘨𝘩𝘵 𝘤𝘩𝘶𝘳𝘯 𝘳𝘪𝘴𝘬 𝘢𝘯𝘥 𝘤𝘳𝘰𝘴𝘴-𝘴𝘦𝘭𝘭 𝘰𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘺.” In 30 seconds, Copilot reveals: • Client showed price sensitivity last renewal • No claims this year • Owns property not insured with you • Delayed responses in the last 2 emails That’s not data. That’s strategy. Next prompt: “𝘋𝘳𝘢𝘧𝘵 𝘢 𝘳𝘦𝘯𝘦𝘸𝘢𝘭 𝘦𝘮𝘢𝘪𝘭 𝘧𝘰𝘤𝘶𝘴𝘦𝘥 𝘰𝘯 𝘷𝘢𝘭𝘶𝘦. 𝘔𝘦𝘯𝘵𝘪𝘰𝘯 𝘵𝘩𝘦 𝘯𝘰-𝘤𝘭𝘢𝘪𝘮 𝘣𝘦𝘯𝘦𝘧𝘪𝘵 𝘢𝘯𝘥 𝘴𝘶𝘨𝘨𝘦𝘴𝘵 𝘣𝘶𝘯𝘥𝘭𝘪𝘯𝘨 𝘩𝘰𝘮𝘦 𝘤𝘰𝘷𝘦𝘳.” Copilot drafts a personalised message referencing: • Their vehicle • Their claim-free year • A bundling savings angle Client feels remembered. Not processed. Before calling, the broker asks: “𝘞𝘩𝘢𝘵 𝘴𝘩𝘰𝘶𝘭𝘥 𝘐 𝘧𝘰𝘤𝘶𝘴 𝘰𝘯 𝘥𝘶𝘳𝘪𝘯𝘨 𝘵𝘩𝘪𝘴 𝘳𝘦𝘯𝘦𝘸𝘢𝘭 𝘤𝘢𝘭𝘭?” Copilot replies: • Address price concern early • Emphasise no-claim bonus • Suggest bundle • Ask about vehicle usage changes Now the call is strategic. Not reactive. Client says: “𝘐 𝘩𝘢𝘷𝘦 𝘢 𝘤𝘩𝘦𝘢𝘱𝘦𝘳 𝘲𝘶𝘰𝘵𝘦.” Broker uploads competitor PDF. Copilot extracts: • Missing coverage • Exclusions • Deductible differences • Risk gaps Broker responds with clarity. Not defensiveness. Deal secured. This is how brokers use Copilot to win: • Faster preparation • Smarter conversations • Personalised communication • Better comparison sheets • Earlier renewal intervention No extra staff. No heavy IT investment. Just structured thinking. The mistake brokers make? They use Copilot to draft posts. Instead of using it to: • Analyse renewal risk • Prepare for client calls • Spot cross-sell gaps • Strengthen proposals AI should drive revenue. Not just content. If you’re a broker: Are you using Copilot to actually protect your book? Or just to write emails faster? In this market, speed wins the quote. Preparation wins the renewal. Comment “𝗖𝗢𝗣𝗜𝗟𝗢𝗧” if you want the exact broker workflow. #InsuranceBrokers #AIinInsurance #BrokerGrowth #DigitalInsurance #InsurTech

𝗪𝗵𝗮𝘁 𝗶𝗳 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗰𝗼𝘂𝗹𝗱 𝗿𝗲𝘄𝗮𝗿𝗱 𝗰𝗹𝗶𝗺𝗮𝘁𝗲 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲? That’s the question we started asking a few years ago — not as theory, but as a way to rethink how sustainability and risk management creates value. My approach to sustainability at Link has always been simple: protect what you have, and find new value where others aren’t looking. 𝗧𝗵𝗲 𝗯𝗲𝘀𝘁 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝗱𝗼 𝗯𝗼𝘁𝗵. After years of planning and cross-sector collaboration, we launched one of Asia Pacific’s first sustainability-linked insurance programs. The concept is straightforward: if our assets are better protected — with flood barriers, drainage upgrades, and smart sensors — our insurance costs should go down. 𝗧𝗵𝗲𝘆 𝗱𝗶𝗱. Premiums dropped 11.7%, with another 7.5% tied to continued performance. In partnership with Marsh and AXA Climate, we’ve built something practical, scalable, and repeatable — a model that turns resilience into ROI. We’ve published a white paper that shares the story and lessons. If you're in real estate, insurance, or sustainability — it’s worth a read. 𝗔𝗰𝗰𝗲𝘀𝘀 𝗶𝘁 𝗵𝗲𝗿𝗲: https://bit.ly/3DSuyRs Thanks to: Chelsea Jiang Edward Farrelly Woody Chan Ivor Cheung, CFA, CPA Tsun K. Chen Jingwei Jia #SustainabilityLinkedInsurance #ClimateResilience #SustainabilityLeadership #SustainabilityInnovation