As we approach an inflection point in the net-zero transition, insurance carriers must transform to stay relevant. Technology is a crucial decarbonization lever, say McKinsey senior partners Kia Javanmardian, Sylvain Johansson, and coauthors. According to their estimates, annual global capital expenditures in the top climate technologies could account for more than $800 billion by 2030, corresponding to roughly $10 billion to $15 billion in insurance premiums on capital expenditures alone.
To read the article, see “Capturing the climate opportunity in insurance,” September 14, 2022.