Swiss Re backs SDSN paper on insurance’s role in advancing sustainable development

Global reinsurer Swiss Re supports a research-backed paper from the UN Sustainable Development Solutions Network (SDSN) which highlights the critical role insurance can play in advancing sustainable development, calling for stronger public-private partnerships to close the global protection gap.

Authored by Lorcán Hall and Patrick Paul Walsh of SDSN, the report draws on 42 interviews with global leaders from both the public and private sectors.

It emphasises that the insurance industry is essential for managing risk and enhancing resilience across households, businesses, and governments worldwide. However, a significant protection gap remains: over 40% of global risks—across areas such as crop failure, natural catastrophes, health, and mortality—are either uninsured or under protected, according to Swiss Re.

The paper argues that this gap could be narrowed through greater collaboration between the insurance industry and sustainable development organisations.

It also explores why the strengths of the insurance industry are often undervalued in United Nations multilateral development agreements, and outlines potential collaborations between the public and private sectors to use insurance to protect the millions of individuals who lack sufficient coverage.

The paper sets out 11 design principles that chart a path for mobilising and scaling the use of insurance for sustainable development. These are linked to actionable recommendations for both public and private sector organisations to position sustainability as an opportunity for innovation and growth.

These recommendations include clearly communicating the societal value of insurance using language, data, and evidence that resonate with non-insurance audiences.

Making insurance inclusive and applying the Leave No One Behind principle by intentionally designing products, services, and processes that are locally appropriate and meet the needs of underserved communities.

Deciding who will represent the industry at development fora and resource this organisation appropriately so that the industry has a “seat at the table” when agendas and frameworks are being drafted.

Use the 17 Sustainable Development Goals (SDGs) and their 169 targets to inform and guide innovation and partnership efforts across the four dimensions of sustainable development.

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