Verisk Launches UK's First Carbon Trust Assured Property Claims Calculator

Verisk has launched the first Carbon Trust Assured Model for property claims in the UK, a tool that empowers insurers to accurately measure, benchmark, and strategize to reduce the carbon footprint of their claims. Developed in collaboration with the Carbon Trust, the calculator leverages over 2,000 construction sector emission factors and Environmental Product Declaration (EPDs) to deliver insights through dashboard reporting and retrospective benchmarking. This solution addresses regulatory pressures for Scope 3 emissions in ESG disclosures and the ABI's call for Net Zero targets by 2025.

Verisk (Nasdaq: VRSK), a leading data and analytics provider to the global insurance industry, has announced the launch of the insurance industry’s first Carbon Trust Assured Model for property claims in the UK. The new Verisk Property Claims Carbon Calculator empowers insurers to accurately measure, benchmark, and strategize to reduce the carbon footprint of their claims [1].

Developed in collaboration with the Carbon Trust, the calculator leverages over 2,000 construction sector emission factors and Environmental Product Declarations (EPDs) to deliver insights through dashboard reporting and retrospective benchmarking. This solution addresses regulatory pressures for Scope 3 emissions in ESG disclosures and the Association of British Insurers (ABI) call for Net Zero targets by 2025 [2].

The calculator supports compliance with ISO 14064-3:2019, PAS 2050, and GHG Protocol standards, providing insurers with the confidence to act on emissions data and meet compliance targets. It enables insurers, third-party administrators (TPA), managing general agents (MGA), and suppliers or contractors to track emissions at the insurance claim level, benchmark performance across suppliers and time periods, and identify opportunities for carbon reduction when carrying out property repairs [1].

“We’re proud to partner with Verisk on this pioneering solution,” said Bob Burgoyne, director, The Carbon Trust. “This assured model reflects our shared commitment to accelerating the transition to a low-carbon economy and will help to equip insurers in the UK with the tools they need to meet their sustainability goals” [1].

Verisk is advancing sustainable business practices through data-driven innovation and global risk intelligence. By integrating geospatial analytics and climate science, Verisk is helping clients navigate biodiversity, water stress, and climate transition risks [1].

References:
[1] https://www.stocktitan.net/news/VRSK/uk-insurers-gain-insight-into-carbon-footprint-of-claims-with-new-rhhgz5ajtny1.html
[2] https://finance.yahoo.com/news/uk-insurers-gain-insight-carbon-061000084.html