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All Journal IJEEM - Indonesian Journal of Environmental Education and Management
May Rista Situmorang
Sekolah Tinggi Manajemen Asuransi Triskati
Decision Sciences, Operations Research & Management Education Environmental Science

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Integrasi Manajemen Risiko Lingkungan Dalam Underwriting Asuransi: Kerangka Strategis Untuk Meningkatkan Ketahanan Industri Perasuransian Antony Japari; Andesna Nanda; May Rista Situmorang
IJEEM - Indonesian Journal of Environmental Education and Management Vol. 10 No. 1 (2025): IJEEM: Indonesian Journal of Environmental Education and Management Volume 10
Publisher : Universitas Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21009/ijeem.v10i1.72100

Abstract

Abstract Environmental conditions and the increasing frequency and complexity of natural events have positioned environmental risk as a strategic issue for the insurance industry. Such risks may affect not only claims payments, but also portfolio quality, premium determination, underwriting decisions, reinsurance adequacy, corporate reputation, and business sustainability. This article aims to develop a conceptual framework for integrating environmental risk management into insurance underwriting processes. The study uses a literature review approach by examining risk management standards, sustainable finance regulations and policies, and literature on sustainable insurance and climate risk. The analysis indicates that environmental risk integration can be implemented through five main stages: risk identification, materiality assessment, integration of environmental factors into underwriting, risk control and transfer, and monitoring and reporting. The proposed framework positions underwriting not merely as a risk selection function, but also as an instrument for risk management and portfolio sustainability. The article provides an implementation matrix that can assist insurance companies in developing environmental risk-based underwriting policies in a gradual manner. The conceptual findings strengthen the relationship between insurance management, risk management, and environmental management in supporting the resilience of the insurance industry. Keywords: insurance management, risk management, environmental risk, underwriting, sustainable insurance, industry resilience.
Manajemen Asuransi dan Ketahanan Risiko Iklim: Model Integrasi Risiko Lingkungan, Governance, dan Keberlanjutan Pada Perusahaan Asuransi Antony Japari; Andesna Nanda; May Rista Situmorang
IJEEM - Indonesian Journal of Environmental Education and Management Vol. 11 No. 1 (2026): IJEEM: Indonesian Journal of Environmental Education and Management Volume 11
Publisher : Universitas Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21009/ijeem.v11i1.72101

Abstract

Abstract Climate and environmental risks have cross-functional characteristics, long-term impacts, and potential effects on the assets, liabilities, operations, investments, and reputation of insurance companies. These conditions require a shift from reactive risk management toward an integrated approach embedded in corporate strategy and governance. This article aims to develop a conceptual model for integrating climate and environmental risks into insurance management. The study employs a literature review of risk management standards, sustainable insurance principles, Indonesian sustainable finance regulations, the insurance industry roadmap, and climate-related disclosure standards. The analysis produces a six-component model consisting of governance, risk identification, scenario analysis, risk response, resilience financing, and disclosure. The model indicates that insurance companies can strengthen resilience through a combination of risk prevention, risk reduction, risk transfer, and risk financing. The article also develops implementation indicators that can be used for internal evaluation. The contribution of this article lies in integrating insurance management, risk management, and environmental perspectives into a single framework that can be implemented gradually without being limited to a particular insurance product or business line. Keywords: insurance management, climate risk, environmental risk, governance, resilience, risk management, sustainability.
Co-Authors Andesna Nanda Japari Antony