Crowe UK has scooped InsuranceERM's climate and sustainability consultancy of the year award in recognition of how it has helped several major insurers to develop sustainability and climate capabilities across their insurance and asset management businesses.
The business's latest award win comes on top of Crowe winning risk consultancy of the year for four years in a row in the InsuranceERM UK & Europe awards.
Crowe's risk consulting practice was formed to help clients achieve success by being more sustainable, resilient, and adaptable to uncertainty. The firm says it takes pride in being at the forefront of industry development and thinking and leverages internal data and analytics capabilities to support clients.
Client testimonials were a major factor in Crowe winning the climate and sustainabilioty consultancy title.
These testimonials underline the broad mix of project management, technical and subject matter expertise Crowe has provided insurers in dealing with climate risk.
InsuranceERM's judges were also highly impressed with the evidence of Crowe's effectiveness and commitment in helping insurers respond to a rapidly evolving climate risk landscape.
One judge said Crowe has "good credentials and thought leadership activities in areas where there is a gap in the market. They have clearly done very well in a short span of time".
Another judge said Crowe is very responsive and has a good understanding of the insurance industry, as well as sustainability.
Recognition of Crowe's relationships and responsiveness to clients were another contributing factor in the award win.
"We have continued to evolve our offerings to meet our clients' changing needs. We do this by listening and understanding; for example, we have set up a sustainability risk function network and host regular roundtable discussion events," a spokesperson for Crowe says.
The consultancy adds this approach has led to several novel projects. These have included "completing our first limited assurance review of insurance-associated emissions to the Partnership for Carbon Accounting Financials (PCAF) standards, supporting the implementation of human rights policy into underwriting and embedding sustainability into procurement", says the spokesperson.
Crowe explains this year has seen a shift from focusing on scenarios and modelling exposures towards embedding sustainability into core business processes.
"Every project is different, but the main shift is away from strategy setting towards execution of plans," the spokesperson for Crowe says.
Looking ahead, Crowe says it will continue to be led by client needs, and will continue to adapt to the changing landscape.
In terms of what this landscape will look like, its spokesperson says, "the major challenge we see ahead relates to the increasingly complex reporting landscape".
