<IR> Business Case : value creation in the insurance and reinsurance industry
Business Case <IR> Insurance Industry Network 2015
Integrated Reporting <IR> is a process founded on integrated thinking that results in a periodic integrated report by an organization about value creation over time and related communications regarding aspects of value creation.
The insurance sector has been identified by the International Integrated Reporting Council (IIRC) as a key industry for adoption of <IR> given the developments in the sector.
The <IR> Insurance Network which was missioned with building the business case for the Insurance sector is coordinated by leading insurers and reinsurers from a range of countries. Mazars assisted the <IR> Insurance Network in building the business case. Several working groups and industry interviews were run to identify the trends and factors which the industry is facing that make <IR> a relevant solution.
THE ADDED VALUE OF INTEGRATED THINKING AND INTEGRATED REPORTING <IR>
This publication aims to provide concise but practical insights on how Integrated Thinking and Integrated Reporting <IR> can help insurance and reinsurance companies in creating value for their stakeholders.
The document is not meant to be exhaustive: each reporter is free to adapt the guiding principles detailed in the International <IR> Framework according to its own specificities.
Moreover, for a more detail-oriented approach, the documents released by the IIRC and the Integrated Reports issued by the adopters of the International <IR> Framework can be used as references.
An overview on <IR> is provided, starting with the analysis of the mega-trends affecting the insurance industry and investors’ expectations of corporate reporting, defining how insurers and reinsurers can use <IR> to communicate on these trends and finally sharing the thoughts and opinions of professionals about this revolutionary type of reporting.
This document is the result of regular conference calls with <IR> Insurance Network participants held between November 2014 and January 2015. Interviews have also been conducted with two mainstream and four ESG investors and analysts in order to gather their opinion on current publications and frame their expectations on Integrated Reporting and Integrated Reports in the insurance industry.
This paper reflects the collective views of <IR> Insurance Network participants, not necessarily those of their organizations, the IIRC or Mazars.
Mazars in integrated reporting
Mazars is an active supporter of the IIRC and a key player in integrated reporting. Strongly involved in the development and deployment of <IR>, we have already held several meetings and workshops with businesses, investors and other stakeholders, participated in conferences, and shared our annual report. Mazars published its first integrated annual report for the fiscal year 2013/2014. Read the full report here.