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.
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.
Demographic change is a major challenge for the Swiss old-age insurance and pension system – the so-called “three pillar system”. Together with its partners, the insurance industry is working on fair and sustainable solutions in old-age insurance.