Building sustainability and resiliency into your business is important in a hard marketplace. A green insurance agency can help save you money and the environment — and attract customers and investors who prefer to work with sustainable firms.
The insurance and risk management sector is heavily affected by weather and climate change issues. It only makes good business sense to build sustainability into your firm.
Read on to learn how to develop your business into a green insurance agency with a focus on sustainable practices.
Build Your Green Insurance Agency
Insurance agents and brokers can take steps to develop their agency into a more environmentally friendly business.
Invest in eco-friendly real estate.
When designing your building or looking for corporate real estate, you can select an environmentally friendly design. Look for LEED buildings or ones with other green options. If your building meets certain green standards, you might be eligible for a discount on your property coverage. The Small Business Administration has a sustainability toolkit and other resources to help you build your green business.
Install electric vehicle chargers in your parking lot.
Consider adding chargers for electric cars in your parking lot. Your employees, vendors, and visitors will thank you. Having the option to charge their hybrid vehicles conveniently could help convince some employees to make the move from a gas-powered to a battery-powered vehicle.
Provide bike storage for employees and visitors.
Encourage green sources of transportation by providing secure bike storage at your green insurance agency. Accessible, safe bike parking can go a long way in encouraging people to ride more than drive. When you make it easier for people to make an eco-friendly choice, they often will.
Replace single-use items with reusable ones.
Add reusable cups in the kitchen for coffee and water. Provide reusable options or encourage employees to bring their own from home. Replacing single-use items saves money and is good for the planet.
Partner with sustainable vendors and carriers.
When you decide who to do business with, try picking partners that have good sustainable practices. Align your green insurance agency with others who have the same mission to expand your reach. Insurance companies who have agreed to abide by certain sustainable practices can join the Principles for Sustainable Insurance (PSI), an UN-sponsored initiative to provide a global framework for sustainability. Many carriers have already joined — you can see if your partners are signatories.
Promote the green business practices of your partners.
Some major insurance companies offer green discounts to their homeowner’s policyholders who rebuild after a claim with eco-friendly materials. Other insurers give premium discounts for LEED-certified homes or homeowners with solar panels. Auto insurers provide discounts for hybrid or electric vehicles. Usage-based insurance based on how much you drive is becoming popular as people drive less and pay less based on their use.
Help your policyholders build sustainability into their homes and businesses.
Climate change is a concern for the insurance industry. Stronger storms affect customers all over the country and changing climate conditions heighten wildfire and flood risks. But you can use your role as an insurance agent to help educate people about their risks. Talk about how people can build more resilient homes. Share resources about resiliency and sustainability.
Join the American Agents Alliance for More Small Business Resources
For more helpful content like this, become a member of the American Agents Alliance. Invest in your business with a membership in 2022. We have the best networking and blog content as well as discounts on useful small business tools and resources.
Building a sustainable future is something we can do together! Build your green insurance agency to help the environment, promote sustainability, and attract like-minded policyholders.
