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Greening the Future: Sustainability Practices in the Insurance Industry and the Rise of Green Insurance
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Author(s): Priyanka Malhotra (NIET Business School, Greater Noida, India), Sanjay Taneja (Graphic Era University, India), Amar Johri (Saudi Electronic University, Saudi Arabia)and Timilehin Olasoji Olubiyi (West Midlands Open University, Nigeria)
Copyright: 2026
Pages: 16
Source title:
Harnessing Data Science for Sustainable Insurance
Source Author(s)/Editor(s): Gagan Kukreja (College of Business Administration, University of Bahrain, Bahrain), Ayben Koy (Fenerbahçe University, Turkey), Pooja Kansra (Mittal School of Business, Lovely Professional University, India), Diksha Verma (Chandigarh Business School of Administration, Landran Mohali, India)and S.L. Gupta (Birla Institute of Technology, India)
DOI: 10.4018/979-8-3373-1882-0.ch010
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Abstract
This study investigates the correlation between corporate sustainability practices and the adoption of green insurance products, utilizing a quantitative research design. Data were collected from 213 organizations via a structured survey, measuring perceptions of sustainability's impact on market reputation and insurance product adoption using a seven-point Likert scale. Statistical analyses, including regression and ANOVA, reveal a robust positive relationship between sustainability focus and the adoption of green insurance, with an R2 value of 0.777, indicating that sustainability practices explain a significant proportion of variance in insurance adoption. The findings suggest that while many firms exhibit ambivalence towards green insurance, sustainability initiatives are a critical determinant of organizational behavior. This research contributes to the literature by providing empirical evidence on the strategic integration of environmental considerations in risk management, offering valuable implications for both policy and future studies in sustainable business practices.
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