Green Marketing in the Insurance Industry: An ESG Analysis of Selected Indian Insurance Companies

Financial-service companies, including insurance companies, are increasingly taking environmental sustainability into account. Insurers are increasingly encountering climate-related risks and are expected to address the concerns of stakeholders, which has led to ESG (Environmental, Social and Governance) being incorporated into insurers' strategy and corporate communications. This research explores the green marketing practices of the selected insurance companies in India from the year 2021 up to February 2025. A multiple case method, qualitative approach was employed based on public information in the company disclosures, press releases and industry sources. The study is based on the case studies of four insurance companies: Axis Max Life Insurance, PNB MetLife, Generali Central Insurance, and Future Generali India Insurance. The analysis reveals three key patterns: community-based afforestation, a culture of employee engagement with sustainable practices, as well as embedding environmental initiatives in corporate brand communication. Over 7000 saplings were planted in 35 cities with more than 1700 volunteers under Axis Max Life's Insure Earth program and PNB MetLife's Glow Green program, aimed at planting and nurturing more than 40000 trees. Future General, Generali's Green Switch program gamified the way their employees behaved to make them more environmentally friendly. The results indicate that green marketing in the insurance sector is not just about communicating CSR, but also about engaging more with stakeholders and promoting the sustainability of the organization. But company-reported environmental outcomes must be interpreted with caution, as they are not necessarily a reflection of independent verification of ESG performance. Thus, the key to successful green marketing is transparency, measurable indicators and credible environmental claims.