Case study

Länsförsäkringar Alliance (Sweden)

Last update: 30 April 2021

Key facts

The Länsförsäkringar Alliance is a Swedish mutual company comprising 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB and its subsidiaries. Its 3.9 million customers are provided with a complete offering of banking, insurance, pension and real-estate brokerage services through the regional insurance companies. The company’s operating profit for 2019 was SEK 14.9 billion. For more information visit their website.


Preventing natural catastrophes

Costs for natural catastrophes at Länsförsäkringar are increasing and in total represent slightly more than 10% of property-damage claims over time. Global warming is a financial risk that is difficult to predict over time, with sea levels expected to rise by 0.5-1 metre this century and the strongest type of storms is expected to grow in number.

All 23 regional insurance companies of the Länsförsäkringar Alliance each have a natural-catastrophe coordinator who focuses on spreading know-how and preventing natural catastrophes. Activities to prevent natural catastrophes include analysing the external environment and following scientific and technological developments. There are many reasons for higher claims costs caused by natural catastrophes: the rising trend of more extreme weather situations and the effects of urban planning with new developments in vulnerable areas. Dialogue on climate change and development planning is conducted with decision-makers in society. Länsförsäkringar informs its customers how they can protect themselves, their families and their properties from natural catastrophes, such as hurricanes, thunderstorms, floods, heat waves, drought and heavy snowfall, and reduce the risk of starting a forest fire.

Construction techniques for high-risk zones

The Länsförsäkringar Alliance raises awareness of construction techniques for new-builds in risk zones close to water that are affected by climate change and rising sea levels.

Claims prevention activities

Households are taught about how to conduct a fire drill and how simple fires in the home can be prevented and extinguished. Additionally, the Länsförsäkringar Alliance implements a programme that pays for more extensive chimney-sweeping to prevent fires.

Circular claims adjustment

The Länsförsäkring Alliance works on circular claims adjustment to increase the reuse, repair and recycling of home electronics.

Mechanisms: Modelling & Data, Pricing
Hazards: Environmental, Road Traffic Accident

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