Munich Re’s Risk Management Partners has announced a strategic partnership with CGI, a global business and IT consulting services firm, aimed at helping insurers manage and reduce claims through enhanced climate risk mitigation strategies. This collaboration integrates Munich Re’s Location Risk Intelligence Platform with CGI’s expertise in climate risk assessment, providing insurers with critical data and tools to refine their risk management approaches and improve profitability.
The partnership is designed to equip insurers with advanced decision-support data, facilitating better-informed decisions regarding pricing adjustments, identification of risk concentrations, and the development of customer-specific key performance indicators based on climate impact models. Additionally, the collaboration will focus on implementing risk mitigation strategies related to natural hazards and climate change on a global scale.
CGI will also oversee the implementation process of Munich Re’s Location Risk Intelligence solution, ensuring a seamless integration into the insurers' existing frameworks. This initiative aims to not only reduce the financial impact of climate-related claims but also contribute to the sustainability and resilience of the insurance industry.
Benoit Leboucher of CGI highlighted the importance of this partnership in enabling insurers to anticipate and mitigate the impacts of climate change effectively. Meanwhile, Christof Reinert of Munich Re emphasized the growing significance of addressing climate risks and advancing sustainability within the insurance sector. This collaboration promises to deliver comprehensive solutions that address these pressing industry challenges.
