Skandia

Insurance, Social Impact, and Profit

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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.

New Case Study: Skandia Group Creating Shared Value in Sweden's Financial Sector

Insurance, Social Impact, and Profit
Article

By applying a shared value lens, insurance companies can do more than just protect against risks. They can help prevent risks from occurring in the first place, while simultaneously creating economic value.

Skandia is a major provider of insurances and products for long-term savings and investments in the Nordics. Their development of a unique underwriting model and rehab services network enabled them to reduce preventable sick-leave time in Sweden, while dramatically improving their bottom line.

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