Several studies have shown that the financial services industry is of vital importance to Switzerland. As one of the major actors in the industry, the Swiss Insurance Association works to promote an economically viable framework and a fair supervisory regime. Furthermore, sustainable investments have gained in importance over the last years. The corresponding investment criteria are also starting to shape the insurance companies’ investment decisions.
Skilled staff are a key factor in the success and competitiveness of insurance companies. The Swiss insurance industry supports the tried-and-tested dual system of vocational education and training and is present at all levels of education. The insurance industry is committed to youth development, lifelong learning and a modern, family-friendly working model.
Climate change has a major impact on insurance companies. Extreme weather events are becoming more and more frequent, with heavy rainfalls causing damage through surface runoffs. Protecting our environment is also of interest to the insurance industry as water polluted by nanoparticles can cause health injuries. And this is but one example...
Ongoing digitisation is giving rise to new opportunities – and risks. Some of these risks cannot be assessed easily; they are classified as “emerging risks.” The insurance industry is following these risks as well as issues related to data security, autonomous vehicles or cyber crime closely and has built up considerable expertise in these fields.
Extensive old-age insurance and a strong healthcare system mean that people in Switzerland need not find themselves in financial difficulties through no fault of their own. The SIA Safety Monitor – a study commissioned by the SIA – shows the greatest fears of the Swiss populations as regards social security.
Switzerland’s pension system, which is based on three pillars, is complex but good. However, in an era with an increasingly ageing population, this system is put under ever greater pressure. With this in mind, private insurers are committed to offering companies sustainable pension solutions.