The world is rapidly changing and although this brings opportunities, it also brings new risks and challenges. Climate change and environmental issues are cited as one of the biggest risks of the future, together with widening geopolitical fractures and growing inequality and polarization.
We experience an unprecedented speed of change driven by new technologies and data availability but also questions arise on the impact and the risks associated with these developments. These new risks and challenges will have an impact on the international insurance market and on us.
Dealing with these changes, it is of great importance to meet the expectations our employees, clients, shareholders and carriers and also ensure compliance with new legislation. We continuously think and challenge how MSIG Specialty Marine as a company has an impact on society and what we can do to contribute to a better world and future which is reflected in our vision:
“Provide a genuine, first-class services and innovative risk solutions to our clients in the specialist and marine insurance market, and enable them to progress, create value and help build a sustainable society”.
We believe we can only achieve our vision of value creation by integrating ESG into our overall strategy, have it embedded into our day to day operations and underwriting assessments and include all functions and staff to actively participate into our thought process and establishing our value proposition.
MSIG Specialty Marine’s story focuses around 3 domains. We have aligned our these 3 domains and our value proposition around the United Nations Sustainable Development Goals that underpin our ambition and support or strategic growth and business plans.
MSIG Specialty Marine domains
Our role as an insurance solutions provider — protecting our clients against the risks they face
Our core service as an insurance provider in providing coverage for our clients for challenging (climate) risks while creating a sustainable return for our carriers and shareholders
We are here to offer our clients comprehensive coverage for both the risks they face today and those which will arise with the changing risk landscape. By offering our clients tailormade insurance solutions, being flexible in our insurance appetite and supporting our clients with in-house knowledge about (climate or people) hazards and threats, clients are able to take risks with the assurance that capital backup is available in the event of a valid insurance claim. Our services provide our clients with a buffer against challenging risks, and enable them to develop and create value within the maritime industry and society as a whole, while ensuring sustainable returns and value for our stakeholders.
At the same time, we understand that current solutions are insufficient in a world that is constantly changing, and we are therefore continuously reviewing our processes and products. We invest time and effort in developing new insurance products so that we can continue to support innovative business sectors supporting in the transition to a sustainable economy, such as the renewable energy sector.
Together with our carriers and other companies in the MS&AD Group, we need to align strategies so we can help achieve the goals of our carriers and MS&AD, ensure sustainable returns and value for our stakeholders, and remain compliant with national and international legislation.
Our role as an enabler — providing services and knowledge to help support our clients through their transition
Expand beyond our core services and offer additional services such as loss prevention and risk management advice, support implementation of legislation, and assume ownership of our role as a financial service provider in driving the UN goals
Insurance facilitates and supports innovation and sustainable growth in our maritime market. At the same time, we aim the maritime industry is safe and complies with applicable regulations through various screening processes our clients have to undergo. This leads to responsible production and distribution within the supply chain.
We understand the carbon footprint of the maritime industry, and we support decarbonization to minimize its impact on our climate and marine environment. We help our clients by providing technical and legal knowledge about new technologies, risks and developments within the industry, as we guide our clients towards a greener industry and help them make responsible and sustainable choices.
Our role as an employer and a company opening from multiple countries — impacting over 200 employees and communities
MSIG Specialty Marine as an impactful employer and social stakeholder by taking its Corporate Social Responsibility in cities and countries with office presence
We want our employees to experience an inclusive and diverse company culture with a focus on personal growth and company purpose. To attract new talent, our recruitment policies must concentrate on the same aspects. As an employer, our ability to deliver on our ambitions and attract talent will be centred on doing the right thing.
Our group
The MS&AD Insurance Group pledges in its Corporate Philosophy “to contribute to the development of a vibrant society and help secure a sound future for the planet by enabling safety and peace of mind through the global insurance and financial services business.”
