Daxel Insurance ServicesLast week, we shared an amazing few days of team-building organized by Lloyd's Broker, Mayrit Insurance Broker.
These were fantastic days full of synergies between brilliant colleagues in the insurance sector. Undoubtedly, it is worth noting that what unites us goes beyond the professional sphere.
It is a pleasure for DAXEL to be part of the MAYRIT family.
Thanks to Mayrit Insurance Broker, for all the organization and for being an excellent host.
At DAXEL we attended the business day organized by MARSH together with Expansión on 'Geopolitics and ESG, main risks to be taken into account by companies'.
Pablo Trueba, CEO of Marsh, shared with us an enlightening vision of the pillars on which good enterprise risk management is based:
He also highlighted the main strategic decisions to be made in the face of risks:
During the course of the day, the excellent participants at the discussion tables addressed two crucial issues:
1. What is the impact of geopolitical risks?
It has been highlighted how trade tensions, international conflicts and changes in government policies can have a significant impact on companies' operations.
To address these risks, three key factors have been highlighted:
Strategies for managing geopolitical risks have been discussed, highlighting the importance of:
2. ESG criteria as an opportunity for growth and value.
The second major theme focused on the importance of considering environmental, social and governance (ESG) aspects.
It has been highlighted how ESG risk management is essential to maintain reputation, comply with regulations and meet the expectations of investors and society in general.
In the context of the E (environmental), emphasis has been placed on the need to adopt policies related to the care of the environment and the fulfillment of the 2030 and 2050 objectives , among others, to Net Zero, all of which has been linked to the need to accelerate technological innovation.
Regarding the S (social), the importance of inclusion has been emphasized, as well as the quality of life in the areas where the companies operate has been another important point to be taken into account by the companies for the correct compliance and in terms of human rights.
From the G (governance), it has been pointed to the obligation of companies to promote the risks that affect the business, specifically in terms of cybersecurity of both the company itself, as well as customers and supply chains that may be affected.
The role of the insurance sector in promoting sustainability has been highlighted.
With respect to our sector, he referred to the importance and the certain obligation that insurance has as a 'policeman' of the system. The insurance sector must ensure compliance with ESG policies throughout its supply chain and suppliers, as well as with respect to the underwriting portfolio, which must be analyzed on the basis of ESG criteria.
Conclusion:
The day provided valuable insight into the main risks facing companies today. Risk management, particularly with regard to geopolitical and ESG risks. Adapting to an ever-changing business world, transitioning to more sustainable practices and seeking expert advice are key steps in risk management and future business success.
DAXEL offers advisory services and support to all our clients, reinforcing the importance of risk management in a constantly evolving business environment, with a significant emphasis on regulation and sustainability. The combination of appropriate risk management and consideration of geopolitical and ESG factors are essential for business success and sustainability.
At DAXEL we didn't want to miss the 34th Congress of AGERSThe Spanish Association of Risk Management and Insurance, where top-level speakers shared their views on risk management and the main trends in the Spanish insurance market.
There were also sessions on Artificial Intelligence and the importance of ESG criteria and sustainability. In addition to the intervention of the President of FERMA Risk Leadership at the heart of Europe, which was a unique opportunity to learn about key aspects of risk management at the international level and the strategic figure of captives.
Undoubtedly, a unique annual opportunity where hundreds of industry and risk management professionals have gathered to share their enriching knowledge and deepen their understanding of key aspects of risk management.
We at DAXEL would like to extend our most sincere congratulations to AGERS - Spanish Association of Risk and Insurance Managementand especially to Alicia SolerExecutive Manager of AGERS and to Juan Carlos PorcelPresident of AGERS, for this great event and the excellent organization.
DAXEL participated in the meeting organized by the European Insurance and Occupational Pensions Authority (EIOPA), the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the Comisión Nacional del Mercado de Valores (CNMV), on the occasion of the 10th Consumer Protection Day meeting, which took place in the emblematic Prado Museum.
During the event, crucial topics on trends and challenges that are transforming the world of finance and insurance, including cross-selling, cryptocurrencies and greenwashing , have been discussed.
We share with you some of our reflections on the topics discussed.
One of the highlights of the event was the emphasis that cross-selling can be a valuable tool for organizations when practiced responsibly. It reminds us of the primary obligation we have to ensure that customers are protected at all times.
We share the importance of ensuring that our recommendations to clients are in line with their needs and their particular circumstances.
It is our obligation to act in the best interest of our clients, providing them with clear and complete information on the options available and enabling them to make informed decisions.
Cross-selling is a strategic and valuable tool when used correctly. It is the obligation of all the actors in the sector to do it responsibly and with consideration for our customers.
The event also explored the challenging world of cryptocurrencies and their impact on finance. It discussed their advantages but also their risks and how these can affect the industry.
The cryptocurrency panel explained the importance of the new MiCa (Markets in Crypto Assets) regulation as an essential part for the regulation of the cryptocurrency market, thus expanding its security, as it includes rules for the monitoring of cryptotransfers, prevention of money laundering, market manipulation and consumer protection.
During the event, we explored the key aspects of this regulation and how it will affect operations in our sector.
The importance of continuing to work closely with greenwashing was recalled. The increase in demand for investment in companies with sustainability-related characteristics was followed by an increase in offers from companies claiming to have and apply a range of sustainability governance processes and tools.
There is a need to achieve full transparency in corporate compliance with respect to sustainability. As consumers demand more sustainable businesses, we are committed to offering products and services that truly reflect a full commitment to sustainability and ESG factors.
Customers and authorities alike demand transparency, accountability and ethics in our operations. We are determined to lead on this front and to set an example in the insurance industry.
At DAXEL we are committed to digitalization and sustainability, bringing regulatory compliance to the highest level of priority in order to provide responsible, innovative and efficient solutions to our customers.
At DAXEL we are celebrating the 8th anniversary of the Sustainable Development Goals and we are doing so by putting the #ODSforFlag.
We raise the #ODS flag as a sign of our commitment. If you care about education, responsible consumption, environmental care, peace or health, you can do it too.
Join #TogetherForSDGs and log on to www.odsporbandera.org
