Zurich Financial Services Australia CEO David Smith has challenged his colleagues in the industry to commit to “changing the mindset” from paying claims to restoring people’s lives.

He says the community is “increasingly looking to insurers to play a greater role in restoring their customers to their pre-disaster position”.

Speaking at a seminar in Sydney on Friday for the Environment Institute of Australia and New Zealand’s NSW branch, he said the industry’s challenge is “to move beyond traditional disaster relief to community and individual risk mitigation and helping the community recover from the effects of climate change”.

“There needs to be a greater willingness to collaborate with government and emergency services and help build the capacity of these organisations to meet the challenges ahead.”

Mr Smith says global general insurers working in the local market “need to be more creative about how we can develop and leverage international expertise and resources that can be called on when disasters happen”.

“The general insurance industry needs to do more than just hand over a cheque when disaster strikes,” he said.

As risk specialists, the industry is well-placed to help the community adapt to climate change, “but as an industry we are slow in translating that into practical initiatives”.

“Frankly, it’s in the best interest of insurers to help their customers adapt,” Mr Smith said. “We are likely to see a reduction in our claims experience and it could even see us reduce premiums.”