ICMIF introduces tool to measure impact of insurers on sustainable development

The SDG Calculator, developed by the Swiss Re Institute, was launched at the apex's centenary conference

The International Cooperative and Mutual Insurance Federation (ICMIF) has launched an Insurance SDG Calculator at its centenary conference in Rome.

Developed by the Swiss Re Institute under the UN Principles for Sustainable Insurance (UN PSI) iSDG initiative, the calculator is the first tool to measure insurance sustainability impact against the Insurance Sustainable Development Goals (iSDGs). ICMIF worked with Swiss ReInstitute to come up with a “commitment framework”, which determines the indicators, their scoring ranges, and the weighting scheme for all indicators and SDGs.

The apex’s co-operative and mutual members will be able to use the framework to assess their own iSDG impact against a set of indicators that reflect mutual values and strategic focal areas, such as risk prevention and inclusive insurance.

ICMIF CEO Shaun Tarbuck said: “Thanks to our partnership with the Swiss Re Institute, Icmif is pioneering iSDG impact measurement. Co-created to scale globally, we hope the ICMIF-calibrated Insurance SDG Calculator will help usher a new era of underwriting.”

Icmif members will also be able to use the apex’s network to share best practices and further develop their own SDG strategies whilst working towards a sustainable future.

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