Insurance, Social Impact, and Profit
When you think about insurance companies, do you think about social impact? It’s likely not the first thing that comes to mind, but FSG client Skandia has realized the significant impact they can create by helping prevent risks rather than just insuring against them.
Through active risk prevention, insurance companies can not only improve lives and potentially make whole nations more resilient, but they actually increase their company’s competitive advantage. In other words, they apply the concept of shared value.