Spotlight: The ESG opportunity - insurers and brokers as partners in SME resilience

Work around promoting ESG among smaller companies in the UK is gathering momentum and the expectation is that, as knowledge grows, so will demand for both advice and tailored insurance.

Currently, as shown by the Insurance Post business resilience survey conducted in conjunction with CRIF, ESG is not seen as business critical, with many respondents only seeing it as a “slight, but not material factor” in terms of SME resilience and profitability. Certainly, among some brokers and indeed their clients, there is a knowledge gap. While national firms may be offering expert consultancy by ESG teams, some smaller firms are offering little advice. But times are changing.

Insurers and brokers look set to play a pivotal role in ESG education and risk management – and potentially, there is a role for more specialist products and incentives to reward firms that demonstrate best practice

This spotlight focuses on how insurers and brokers can position themselves as long-term value partners to SMEs by helping them build resilience through ESG.