Assessing the Role of Green Finance for Sustainability in Shaping the Growth and Competitiveness of India’s Insurance Industry

DOI

10.2991/978-94-6239-678-4_35How to use a DOI?

Keywords

Green Insurance; Sustainability; ESG; Finance; Insurance Sector

Abstract

The effects of climate change are getting worse and spreading faster in many places. The insurance industry is not very connected to any of the sustainability dimensions right now, but that might change quickly. Reports show that India, which is more vulnerable to tropical cyclones and extreme weather, had these kinds of conditions on 314 out of 365 days in 2022 and 2023. In today’s world, the insurance business is realizing more how important sustainability is. As environmental, social, and governance (ESG) issues become more important, regulatory organizations have a big say in how the business will develop. The Insurance Regulatory and Development Authority of India (IRDAI) is leading the way in promoting sustainable insurance practices in India. This article looks at the many ways that IRDAI helps the insurance industry become more sustainable, including being environmentally responsible, socially inclusive, and ethically governed. The role of insurers, notably in the property, autos, and casualty categories, in dealing with environmental and climatic risk problems and creating a truly sustainable, environmentally friendly business model is looked at in the background. Green insurance based on the Principles of Sustainable relooks at the produced full roadmap and insurance value chain for executive management to plan their company’s sustainability initiatives, with an emphasis on property and casualty insurance and additional information. This research article is a conceptual examination of insurance and insurance goods, during which the regulatory body adheres to the mapped Sustainable Development Goals (SDGs) relevant to existent products.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Nageswara Rao Chapala
AU  - Gurunadham Goli
AU  - Geetha Manoharan
PY  - 2026
DA  - 2026/05/28
TI  - Assessing the Role of Green Finance for Sustainability in Shaping the Growth and Competitiveness of India’s Insurance Industry
BT  - Proceedings of the 2nd International Conference on Recent Advancement and Modernization in Sustainable Intelligent Technologies & Applications (RAMSITA-2026)
PB  - Atlantis Press
SP  - 439
EP  - 450
SN  - 1951-6851
UR  - https://doi.org/10.2991/978-94-6239-678-4_35
DO  - 10.2991/978-94-6239-678-4_35
ID  - Chapala2026
ER  -