Munich Re’s Risk Management Partners has collaborated with CGI, a consulting services firm, in a climate risk mitigation initiative to help insurers reduce claims, boost profits, and drive long-term value.
This partnership will integrate Munich Re’s Location Risk Intelligence platform with CGI’s climate risk mitigation offerings, providing insurers with the tools needed to minimise the impact of climate change on their business models and profitability.
A key component of the collaboration is access to advanced decision support data, which will enable insurers to enhance their risk management policies and practices.
This data will support more informed decision making, including pricing adaptations that better reflect the claims experience and the identification of primary risk concentrations through detailed location assessments, according to the firms.
CGI will oversee the delivery of Munich Re’s Location Risk Intelligence solution to insurers, covering every stage of implementation — from needs analysis to change management.
Benoit Leboucher, senior vice president of consulting services at CGI, remarks: "This collaboration will contribute to a more sustainable, resilient, and profitable insurance industry, notably as we help insurers manage, measure, and create visibility on the outcomes of their initiatives."
Christof Reinert, head of Munich Re’s Risk Management Partners, notes: "Climate change and the need to drive forward sustainability actions will continue to grow in importance, and insurers are looking for proven expertise and innovative solutions to respond to these trends.
“Our combined offering will deliver the comprehensive climate risk mitigation capabilities insurers need."
