On October 16, the cycle of talks offered to master's students by the most relevant companies in the sector began.
On this occasion, it was Jaime Villanueva and Juan José López Sanz, both directors of the insurance company MAPFRE, who came to the Puerta de Toledo campus to talk about "Sustainability in the insurance sector, challenges and opportunities for actuaries."
The training session began by introducing general concepts about sustainability and associated concepts such as ESG criteria and sustainable development goals. Actuarial climate indices were then explained as a tool that allows climate change to be related to other variables and a typology of risks (physical, transition of responsibility) that actuaries must take into account was identified.
On another point, the response of the insurance sector, specifically that of MAPFRE, to climate change was addressed: investment of provisions, assets, risk management, etc., explaining how climate change implies risks but also business and professional opportunities, for example with the legal obligation to offer a professional opinion on different aspects by actuaries.
The topic of how climate change affects morbidity and mortality and the possible future impacts in this sense was then discussed, also explaining the role of the actuary in measuring climate risks (identify-understand-quantify-mitigate). An example was presented about an actuarial study on mortality in Spain due to heat waves.
Finally, it was explained how sustainability also has supervision to corroborate what, where, and how it is being managed correctly or incorrectly and what are the steps companies must take to anticipate changes and minimize them.
Throughout the entire session, the students intervened by asking questions and clarifying doubts with the speakers.