Seguros SURA launches energy-efficient solution
This program forms part of the Company's diversification strategy in its search for new business by promoting alternative and renewable energy while reducing emissions of greenhouse gases. Medellin, June 1, 2016. For the purpose of encouraging demand for energy efficiency projects and building greater trust amongst financial institutions, SURA has launched a new insurance solution aimed at reducing the risk perceived with different initiatives within the energy sector in terms of their performance and capacity, thus providing a degree of security to potential investors when it comes to choosing this type of investment. This new product, in keeping with SURA´s risk and trend management strategy, has become an innovative alternative for different organizations. Energy efficiency projects are related to technological change and produce a more optimum level of energy management in order to reduce the amount of energy used for a particular activity (such as heating, air conditioning, lighting, etc), or the level of activity without sacrificing comfort or service. Juan David Escobar , CEO of Seguros SURA Colombia, said: "this solution shall drive renewable and clean energy projects providing support against any type of natural, inherent and occupational risk affecting people, goods and property including failing to comply with the promised energy savings. In SURA we are convinced that by providing our clients with these solutions, we are helping them to managing their risks and become more competitive". The following organizations are participating in this new model aimed at driving energy efficiency: IDB providees support to Bancóldex in identifying opportunities for financing projects aimed at reducing greenhouse gas emissions as well as developing financial instruments that encourage investment in such projects. Bancoldex is responsible for coordinating the program and issuing a line of credit through top-tier financial institutions. Banks, which are the financial intermediaries in charge of evaluating the different investment projects and the clients in question. The bank takes on the risk of recovering the loan from the client and settling the line of credit with Bancóldex. Validator / VerifierAgencies are independent bodies whose function is to certify the design of the project before proceeding with the construction stage so as to reduce any performance-related risk. They are also in charge of verifying the amount of savings to be obtained by the project during its operating stage. Insurance firms grant the policies and coverage required to reduce different project risks, including performance and damage-related risk. Technology providers are all those equipment manufacturers in charge of supplying the equipment and factory warranties. Empresa de Servicios Energéticos (ESE), is a company which offers its energy saving services to the client, and is responsible for the design and performance of the project in question. Clients are the people who benefit from the project and invest in the energy efficiency project. Furthermore, the benefits inherent to energy efficiency include: optimizing the use of energy, promoting efficiency among organizations, reducing environmental impacts, properly using natural resources, promoting alternative and renewable energies, encouraging the development of sustainable energy initiatives, meeting legal requirements, reducing the impact on climate change, saving on energy bills, reducing the risks arising from fluctuations in the prices of energy resources and, of course, hleping the world to become more sustainable. This new program forms part of SURA's strategy to identify new market trends and, based on this, create solutions to drive business diversification taking full advantage of the momentum created around alternative and renewable energy, reducing emissions of greenhouse gases. About Suramericana S.A. With over 70 years of experience, Suramericana S.A. is a leading insurance and trend/risk management company. While being a subsidiary of Grupo SURA (with an ownership interest of 81.1%) it also receives the support and backing of its other shareholder, the German reinsurance firm Munich Re, (holding the remaining 18.9% stake). The Company provides comprehensive care for its clients with its SURA brand of insurance and trend/risk management solutions. Having recently acquired RSA´s former operations in Latin America, as initially announced in 2015, the Company is now present in a total of 8 Latin American countries (Colombia, Chile, Mexico, Argentina, Brazil, Panama, the Dominican Republic and El Salvador), attending a total of 17 million clients. The Company expects to shortly make its debut in Uruguay, once regulatory authorization has been obtained in this part of the world.