Professional services and technology business Davies has partnered with data firm Verisk to introduce a new carbon tracking solution for insurers, designed to measure and manage the carbon impact of claims activity. The solution’s model is independently assured by the Carbon Trust Assurance.

The solution, developed by Davies and which utilises the Verisk property claims carbon calculator, is now live across Davies’ UK and Ireland property claims operations embedded into claims workflows, giving insurers access to detailed emissions data based on repair activity, supply chains and materials used.

At a time when insurers are facing mounting pressure on claims expenses and loss ratios, while also responding to increasing regulatory and ESG expectations including Scope 3 emissions reporting requirements, Davies says the solution enables it to provide insurer clients with claim-level carbon emissions data. This includes data drawn directly from the supply chain, such as the impact of materials, transport and contractor activity.

Adam Shaw, claims director – property field, UK & Ireland at Davies, said: “The industry is under increasing pressure to evidence the environmental impact of claims decisions transparently, not just at portfolio level but claim-by-claim. For the first time, we can give our clients insights into where emissions are generated and where they can be reduced while still maintaining cost control and good customer outcomes and service quality for policyholders.”

Ben Blain, head of property at Verisk Claims UK, added: “The insurance industry has historically struggled to quantify the carbon impact of property claims, particularly Scope 3 emissions. By combining Verisk’s trusted claims and pricing data with the independently assured calculator, this solution replaces assumptions with credible, claim-level insight.”