This course has audio. For an enhanced experience, use headphones or speakers.
Select the help option on the top of the screen for a quick brief on module navigation/information.
SUSTAINABILITY INTRO STARTKate is an experienced Underwriter at Swiss Re. Let’s understand what she has to say.
Good job on creating your access card , at the end of this module, you will be able to:
Describe the Sustainable Business Risk Framework
Use the SBR Assessment Tool
Explain the due diligence process
Select the arrows to navigate.
A Sustainable Business Risk (SBR) is a transaction which (might) affect(s) any policy of the Sustainable Business Risk Framework.
Select each icons to learn more about the Sustainable Business Risk Framework.
1/3 Which of the following are examples of Sustainable business risks?
Select the correct option and submit.
2/3 Which of the following are the activities prohibited under Sustainable Business Risk Framework?
Select 'Yes' or 'No' to make the accurate decision and Submit.
Logging
Mine with evidence of harmful child labour
Transport of weapons
Construction of dam in UNESCO World Heritage Site
3/3 Which of the following are the examples of human rights violations that are relevant for the Sustainable Business Risk Framework?
Select the correct examples and select Submit.
Employer not providing factory workers with a free health clinic
Children younger than 12 years working on a cocoa plantation
Violent relocation of indigenous communities for construction of a dam
Workers on a road repair after midnight
You have successfully completed the first topic of this module. Let’s understand how to use SBR tool now.
Select the play icon to watch the demo.
Gather the information
Select the arrows to navigate.
Select the arrows to navigate.
From: Jay Mckelsey To:
Subject: Inquiry on behalf of Lusaka Mining
Dear ,
Regarding the Lusaka Mining deal, we talked about over the phone yesterday, can you please advise on willingness of Swiss Re quote?
Best,
Jay
Select the play icon to launch a guided simulation.
The Sustainable Business Risk team will review your referral using external intelligence providers, past decisions, media scans and come to a joint decision using at a minimum a 4-eye review process.
SBR Referrals
After this thorough analysis of your transaction, the Sustainable Business Risk team will revert
to you with one of the following binding decisions: Proceed, Proceed with conditions or Abstain.
Select the buttons to learn more.
Now you should be equipped with the necessary skills to keep Swiss Re as the insurance sector’s sustainability leader!
Keep in mind that any transaction could be sensitive from a sustainability point of view. It’s important to recognize that early on!
Always use the SBR Assessment Tool as a first step to check your transaction. It will save you time in the long run!
If you have any more questions or need more information, please refer to our Sharepoint website, or contact the Group Sustainable Business Risk team.
Assessment
Welcome to Final Test
ALL THE BEST!
Question 1
What is covered under the scope of the SBR Assessment Tool?
Select the appropriate option from the choices below.
Question 2
What should be my first reaction if I suspect my transaction could be a Sustainable Business Risk?
Select the appropriate option from the choices below.
Question 3
You check a transaction in the SBR Assessment Tool and receive a "medium sensitivity". What do you do?
Select the appropriate option from the choices below.
Question 4
You submitted a transaction as an SBR Referral last year. How should you approach the renewal?
Select the appropriate option from the choices below.
Question 5
Your transaction covers exposure in several countries. Which one do you enter?
Select the appropriate option from the choices below.
Close the browser to exit the course
Score: /5
Learn why sustainability is relevant for Swiss Re
Before you are trained on Swiss Re's Sustainable Business Risk Framework, let's first learn about what sustainability means for Swiss Re.
Select this link to watch a video which will direct you to a new browser window (To continue with the module after reviewing the link, minimise the new browser window and return to the module window).
Umbrella Guidelines - Human Rights
Human Rights are the fundamental, inalienable rights to which each person is entitled, regardless of context, location, religion, etc.
As a responsible company, Swiss Re will not engage in business with companies complicit in systemic, repeated, and severe human rights violations.
Question
Which of the following examples are human rights violation?
If you answer all of them correctly, you will receive 100 points.
Select the correct options and submit.
Umbrella Guidelines - Environmental Protection
Protecting the environment is essential to conserve ecologically sensitive areas, such as natural forests of unique biodiversity, habitats for endangered species or protected areas.
Swiss Re will not engage in business with companies that inflict repeated, severe, and unmitigated damage to the environment.
Examples of environmental damage include:
Significant unmitigated pollution events
Frequent, large oil spills
Illegal logging
Mining tailings spills
Destruction of habitat of threatened species
Sector-Specific policies
Oil & Gas
Defence Industry
Mining Industry
Dams
Forest, Pulp & Paper, and Oil Palm
Animal Testing
Nuclear Proliferation
Thermal Coal
Now, let's explore the sector-specific policies.
Select each image to know more.
Exclusions
Exclusions can be of two types. Let's review them in detail.
Select each hotspot to know more.
Company exclusions
Company exclusions
A list of excluded companies, updated annually, can be found on here. The list includes companies that are evidentially complicit in systematic and severe human rights violations, and companies that contravene Swiss law or have a particularly poor track record on human rights and the environment, with no foreseeable improvement.
Industry/Country exclusions
Industry/Country exclusions
Highly sensitive industries in selected countries where human rights are systematically violated, and where no improvement is foreseeable in the near future, are excluded. The list of highly sensitive industries/country combinations can be found in the SBR assessment tool.
Proceed
The transaction is aligned with the policies of the Sustainable Business Risk Framework. Business practitioners are free to proceed with their underwriting considerations.
Proceed with conditions
The transaction is raising significant Sustainable Business Risks and in order to ensure its compliance with the Sustainable Business Risk Framework, the underwriter must fulfil certain conditions, such as receive an environmental impact assessment or a human rights statement from the client.
Abstain
The transaction is not aligned with the Sustainable Business Risk Framework, and the business practitioner is not allowed to proceed with the transaction. In case of disagreement with the merits of the research, it is possible to appeal this decision.
Due diligence process
Recognize your transaction as a Sustainable Business Risk
48h review cycle
SBR Assessment Tool
Sustainability check on new transaction
AbstainSBR Referral Tool
If transaction assessed as high risk by the SBR Assessment Tool
SBR team
Analysis by the SBR Team
Recommendation
Recommendation issued. Escalation procedure triggered in case of disagreement.
Binding decisions
The Sustainable Business Risk (SBR) process is mandatory, as described by the Group Compass Underwriting Standards L2.7.2 and L2.8.
Decisions issued by the SBR Assessment Tool and the Group Sustainable Business Risk team are binding.
Compliance with the Sustainable Business Risk Framework is regularly audited by Insurance Risk Review (IRR). Instances of non-compliance detected outside of the audit cycle are raised through the Operational Risk Management (ORM) process.
This due diligence process is limited to sustainability and reputation risks, and as such technical underwriting, legal, compliance aspects or ITC are not considered.
Escalation process
For ‘high sensitivity’ cases, a referral is submitted, and the Group Sustainable Business Risk team will perform a thorough assessment and come back to the business practitioner with a binding decision within 48 hours.
In cases of a decision to ‘abstain’, the business practitioner can disagree with the decision. The business practitioners can then raise their concerns with their line manager. If they both decide to escalate, they must inform the Sustainable Business Risk team.
The escalation is discussed between the line manager and the Head of Sustainable Business Risk. If an agreement is not reached, the escalation process goes to the following level of management. Ultimately, the Group CRO takes the final decision on lasting disagreements.
Sustainable Business Risk Framework
You can find more information about the Sustainable Business Risk Framework in Group Compass L2.8
Group Sustainability Strategy
Are you aware of Swiss Re's 2030 sustainability ambitions? Learn here more about the ambitions and Swiss Re's overall Sustainability Strategy.
Scroll down to move forward.