With systemic threats challenging everything from the insurance business model to communities, insurers are developing innovative ways to mitigate the many risks.

As the consequences of climate change continue to unfold, more frequent and severe weather events are pushing up the cost of insurance claims and premiums, making insurance more difficult to afford. 

“Parts of the world are becoming uninsurable, which would create serious economic, social, health and financial problems,” says Ciaran McCormack, head of market development at AXA Climate and a sustainability education specialist who has worked with former United States Vice President Al Gore.

“I believe it’s incumbent on insurers to understand, mitigate and raise awareness of these risks.”

AXA Climate, part of the Paris-based AXA Group, has created Climate School, a program with more than 50 hours of digital training content designed to inform and motivate change. 

“At first I was a bit sceptical,” says McCormack.

“When you’re in this space, you’re very aware of the scale and the urgency of the challenges. You want your work to be as impactful as possible and I wasn’t sure how well this format would work.

“Then, when I looked into it, I was blown away by the rigour of the science behind it and how engaging the material is, even for people with very little knowledge of climate change.

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