The consequences of biodiversity and ecosystem loss for humanity as a whole are potentially devastating. Ecosystems and biodiversity, among others, can be considered a source of defence against the effects of climate change and are closely interconnected with it.
Omitting to consider the importance of these aspects, mitigation and adaptation to the consequences of the loss of nature, can represent a source of economic risk potentially undermining financial stability, as well as compromising people's physical and mental well-being.
Industries that rely heavily on nature generate 50 per cent of global gross domestic product. In recent years, institutional focus to the risks posed by the loss of biodiversity and ecosystems has increased, also with specific reference to the insurance sector, both by regulators and by the industry players themselves, who are aware of the potential consequences for business.

The session is open to all professional interested in understanding what the loss of nature implications are for the insurance sector.

Given the wide range of potential implication of environmental risks for insurers, the session is potentially interesting for a wide range of professionals working in the Risk Management, Finance, Compliance, and Sustainability department.

Technical Requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom will be used for this online training). Please also make sure that you are joining the web session with a stable internet connection.

So far, the industry focus when approaching to ESG risks, has been mainly on climate change. However, climate risks and risks associated with the loss of nature are closely intertwined. The objective of this session is to describe what is the loss of nature related risks for insurers, what are possible approaches to manage those risks, the disclosure involved (e.g., ESRS, TNFD) and to give a view on impacts, opportunities and recommendations for the insurance sector.

The language of the web session will be English.

Giammaria Famiglietti
Giammaria is a Principal at Oliver Wyman since 2020, leading the Actuarial practice in Italy. He is leading for Sustainability for OW Actuarial Europe.
Before joining OW, he worked for the Italian Insurance Association (ANIA), for Allianz headquarter in Munich and for some of the Big4 in the field of risk management, regulatory compliance and reporting, with a specific focus on the integration of the sustainability factors within the insurance sector.
Giammaria is a lecturer at the SOA (the US Society of Actuaries) on insurance-related sustainability matters, at University of Pisa, in European and global public events. He also holds top management training for leading insurance players in Italy and in Europe.

Mattia Terenzi
Mattia Terenzi is a Manager in Oliver Wyman’s Actuarial Services practice, located in Milan.
Mattia has 5-year experience within the insurance sector. He has joined OW after gaining 4 years expertise in the insurance sectors with other consulting firms (including Big4).
He specializes in supporting insurance entities in the areas of Risk Management, Sustainability, Regulatory Compliance, Data Quality and Reporting.

Anna Savino
Anna Savino is a Manager at Oliver Wyman Actuarial Services, located in Milan. She started her career working for Marsh Italia, an international insurance broker, where she consolidated her expertise in non-life underwriting. Anna joined Oliver Wyman after an experience in a consulting firm specializing in the implementation of IDD-compliant distribution solutions for insurance and bancassurance operators.
She specializes in supporting insurance entities in the areas of Underwriting, Sustainability, Distribution, Regulatory Compliance and Data Quality.