Swedish ICMIF member Folksam is the first insurer in Sweden to use a new function which measures the climate footprint in the claims management system that Folksam uses on a daily basis. The new function was launched by Folksam’s partner CAB Group and it allows claims adjusters to see the climate footprint of repairs to various types of building damage and thus get a better basis for making more sustainable choices in terms of repairs.
Every year, Folksam pays approximately SEK 2 billion for building repairs and being able to measure the climate impact of repairing the damage also means an opportunity to reduce the climate footprint of such repairs. The climate calculation is based on basic data from IVL Swedish Environmental Research Institute and a general calculation of the climate impact of the claim in the form of kilograms of CO<> equivalents which will be reported in Folksam’s claims management system.
“This has been a long-awaited function that gives us the opportunity to increase our expertise in the field while at the same time being able to make a big difference for the climate. In the long term, there are also opportunities to be able to report the footprint to our customers and provide suggestions for alternative ways of repairing damage with less impact,” says Tom Forsman, Head of the Construction Damage Department at Folksam.
“With climate calculation, insurance companies can gain a greater understanding of the climate impact of building repair operations, and thus be able to make more informed decisions and take measures to reduce their climate footprint,” says Anders Melkersson at CAB Group AB.
