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A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds
Sustainability is now a priority issue that governments, businesses and society in general must address in the short term. In their role as major global institutional investors and risk managers, insurance companies and pension funds are strategic players in building socio-economic and sustainable d...
Autores principales: | , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Springer Berlin Heidelberg
2023
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10171178/ https://www.ncbi.nlm.nih.gov/pubmed/37359911 http://dx.doi.org/10.1007/s13385-023-00349-1 |
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author | Aburto Barrera, Laura Iveth Wagner, Joël |
author_facet | Aburto Barrera, Laura Iveth Wagner, Joël |
author_sort | Aburto Barrera, Laura Iveth |
collection | PubMed |
description | Sustainability is now a priority issue that governments, businesses and society in general must address in the short term. In their role as major global institutional investors and risk managers, insurance companies and pension funds are strategic players in building socio-economic and sustainable development. To gain a comprehensive understanding of the current state of action and research on environmental, social and governance (ESG) factors in the insurance and pension sectors, we conduct a systematic literature review. We rely on the PRISMA protocol and analyze 1 731 academic publications available in the Web of Science database up to the year 2022 and refer to 23 studies outside of scientific research retrieved from the websites of key international and European organizations. To study the corpus of literature, we introduce a classification framework along the insurance value chain including external stakeholders. The main findings reveal that risk, underwriting and investment management are the most researched areas among the nine categories considered in our framework, while claims management and sales tend to be neglected. Regarding ESG factors, climate change, as part of the environmental factor, has received the most attention in the literature. After reviewing the literature, we summarize the main sustainability issues and potential related actions. Given the current nature of the sustainability challenges for the insurance sector, this literature review is relevant to academics and practitioners alike. |
format | Online Article Text |
id | pubmed-10171178 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | Springer Berlin Heidelberg |
record_format | MEDLINE/PubMed |
spelling | pubmed-101711782023-05-11 A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds Aburto Barrera, Laura Iveth Wagner, Joël Eur Actuar J Survey Paper Sustainability is now a priority issue that governments, businesses and society in general must address in the short term. In their role as major global institutional investors and risk managers, insurance companies and pension funds are strategic players in building socio-economic and sustainable development. To gain a comprehensive understanding of the current state of action and research on environmental, social and governance (ESG) factors in the insurance and pension sectors, we conduct a systematic literature review. We rely on the PRISMA protocol and analyze 1 731 academic publications available in the Web of Science database up to the year 2022 and refer to 23 studies outside of scientific research retrieved from the websites of key international and European organizations. To study the corpus of literature, we introduce a classification framework along the insurance value chain including external stakeholders. The main findings reveal that risk, underwriting and investment management are the most researched areas among the nine categories considered in our framework, while claims management and sales tend to be neglected. Regarding ESG factors, climate change, as part of the environmental factor, has received the most attention in the literature. After reviewing the literature, we summarize the main sustainability issues and potential related actions. Given the current nature of the sustainability challenges for the insurance sector, this literature review is relevant to academics and practitioners alike. Springer Berlin Heidelberg 2023-05-10 /pmc/articles/PMC10171178/ /pubmed/37359911 http://dx.doi.org/10.1007/s13385-023-00349-1 Text en © The Author(s) 2023 https://creativecommons.org/licenses/by/4.0/Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) . |
spellingShingle | Survey Paper Aburto Barrera, Laura Iveth Wagner, Joël A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds |
title | A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds |
title_full | A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds |
title_fullStr | A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds |
title_full_unstemmed | A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds |
title_short | A systematic literature review on sustainability issues along the value chain in insurance companies and pension funds |
title_sort | systematic literature review on sustainability issues along the value chain in insurance companies and pension funds |
topic | Survey Paper |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10171178/ https://www.ncbi.nlm.nih.gov/pubmed/37359911 http://dx.doi.org/10.1007/s13385-023-00349-1 |
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