The concept of insurance has pervaded through all parts of our life. Be it the homes we live in, the vehicles we drive, the businesses we do, the health we care about, or the very life we live… insurance today covers them all. In 2012, there were over 6,000 insurance companies in the US, employing over 2.3 million people, and the net premium totaled over 1.1 trillion USD.
infographic source: nationwideinsuranceagents.net
But despite this, when we go out to buy an insurance coverage, hardly do we think about going green in this area. That’s because it’s difficult to imagine a product like insurance to be eco-friendly. But thanks to the increasing competition in the industry and the growing concern about the environment, some insurance companies have gone green or are at least motivating their customers to live an eco-friendly life.
So, how can an insurance company go green? Well as they say, where there is will, there is a way. So, there is no stopping an insurance company either; all it needs is the will power. Here is how some of the companies have managed to do it:
The Green Insurance Company has given environmental training to all its employees. It uses 100% recycled paper and recycles 99% of its recyclable waste. It offsets 100% of the emission during activities like business travel, etc. that is unavoidable.
Insure Green, which claims to be the first carbon neutral company of the world in the insurance sector, offers free tips on green living to its clients – like greener driving, saving energy at home, eco-friendly business tips, etc. It also sponsors community activities like school trips, and supports organizations like Wildlife Trusts. Additionally, it offers to donate a certain percentage of the premium collected on its policies to an environmental charity of payer’s choice.
Some companies offer the advantage of lower premiums on green initiatives like green certified homes, hybrid vehicles, etc. Others even offer eco-policies like covering existing eco friendly homes, or offering to replace damaged property with more environmentally friendly design and materials.
So, next time you go out to take out an insurance policy, think green; and make an environmentally responsible choice!