In this episode, Jenn Kosar joins Kevin O’Connell to discuss the importance of ESG in the Insurance sector, what investors and regulators are expecting, and how top global insurers are implementing ESG strategy.
We discuss the following questions:
0:34 - Why is ESG (Environmental, Social and Governance) so important to the insurance sector?
2:20 - How mature are the ESG strategies of the top global insurers?
4:45 - What do investors want and what are insurers disclosing? What ESG issues should insurers prioritize, considering stakeholder importance and business value?
6:07 - How will climate change impact insurers?
8:44 - What is the view of the US and international regulators on ESG and what are their expectations for insurers?
11:00 - If there are currently no mandates in the US, why should insurers obtain independent assurance over their ESG activities?
Kevin O'Connell serves as PwC’s Trust and Transparency Solutions Clients and Markets Leader. A leading specialist in SOC 1, 2 and 3, and other third party assurance and internal controls reporting, he has over 25 years of experience providing services to our largest financial services clients designed to identify, assess, and manage complex risk and control issues across the enterprise – whether they are strategic, financial, systems, or operational in nature. Kevin also serves as the US Risk Assurance Asset & Wealth Management Sector Leader. Leading the growth agenda for the sector, he has created and launched an AWM business program resulting in the development of PwC’s professionals and consistent delivery of the highest quality service to our clients.
Jennifer Kosar is a partner in PwC’s Financial Services Risk Assurance Practice, with 20 years of experience assisting clients across all financial services sectors with a broad range of risk and compliance issues. She specializes in governance, risk, compliance, and internal control related services including internal controls design, assessment and optimization, third party controls assessment and reporting, and Sarbanes Oxley - 404 assessments as part of both management compliance services and external audits. Jennifer is a graduate of the Pennsylvania State University, and is a Certified Regulatory and Compliance Manager, a Certified Information Systems Auditor, and a licensed Certified Public Accountant in the states of New York and New Jersey.