Realizing that each stakeholder group has a different relationship and impact on business operations, the Company is determined to develop and upgrade its ability to meet the needs or expectations of the stakeholders for the sustainability of business operations and continuous growth of the organization as follows:
Shareholders:
The Company is committed to achieve good performance to comply with the good corporate governance as well as focusing on shareholders’ rights and treating them fairly.
Customers:
The Company adheres to customer centricity by initiating product and service innovations are developed to meet the needs and build opportunity for each customer group to access to insurance service as to have security and coverage that match premium rate target to strengthen the sustainability based on MTL’s obligations towards the insureds. In addition, the Company prioritizes providing fair customer service by taking into account the customers’ interests from presales process, sales offering process, until after-sales process for the highest customer satisfaction. MTL is also aware of cybersecurity and personal data protection.
Employees:
The Company has established human resource management policy fair remuneration and welfare, and equal treatment guidelines for employees as well as focusing on Human Rights. The Company also encourages employees to continuously participate seminar trainings to develop their abilities. Besides, the Company puts importance on the employee health and hygiene during COVID-19 pandemic.
Society:
The Company is committed to improve and elevate society quality to create a sustainable society through social activities, as well as supporting activities for public interest and promoting employees’ volunteer activities to instill the values of public spirit by establishing projects to continuously create positive change for the society.
Environment:
The Company promotes friendly operations to reduce greenhouse gas emissions. In addition, the Company focuses on effective resource management in the organization. Guidelines for reducing the use of paper, electricity, and water supply are set. Furthermore, MTL has raised the consciousness of internal employees continuously.
Government:
The Company is committed to comply with business-related laws and regulations.
Competitors:
The Company shall comply with good competition framework without using any corrupt practices to harm its competitors.
Partners and/or Creditors:
The Company shall serve partners and/or creditors according to trade terms and contracts.
The Company announced Sustainable Development Policy for all departments to implement in business operations concretely as well as designing the sustainable development management structure which is the main factor in driving and conveying ESG goals to the implementation of the directors, executives, and employees throughout the organization. This is to ensure proper practices and to enable operational plans to be consistent for the highest benefit for all stakeholders. Furthermore, the Company is committed to achieve Sustainable Development Goals (SDGs) of the United Nations by establishing Sustainable Development Framework and Policy (ESG) as the strategic framework for sustainable development of the Company covering economic, social and environmental aspects. It includes 12 policies as follows:
Economic Aspect
Goal: Create Sustainable Returns.
Commitment: The Company is committed to create sustainable returns by operating under good corporate governance and risk management of international standards. Moreover, the Company is responsible to all stakeholders.
Economic Aspect comprises 6 main policies as follows:
1. Business Operations Defined by Good Corporate Governance Practices
The Company is committed to running the business with corporate governance in accordance with business ethics and good corporate governance practices. A structure that promotes the balance of authorities in management (Checks and Balances) is developed to ensure transparency and corruption-free operations. In addition, policies and procedures for good corporate governance are developed to ensure that the Company has operated the business complying with the international standards and laws as well as regulations and orders of the relevant regulators. The Company is well aware that business operations in accordance with the good corporate governance is an important mechanism for long-term sustainable growth, and to create trust for all stakeholders.
This policy addresses the UN Sustainable Development Goals (SDGs) Goal 16 Peace Justice and Strong Institutions.
2. Adherence to Customer Centricity by Initiating Product and Service Innovations to Meet Every Aspect of Customers’ Needs
The Company has innovated life insurance, investment-linked insurance, and health insurance products that respond to changing consumer expectations and behaviors in order to be able to meet the needs of all segments. Moreover, the product innovation will help the Company have better competitive advantages which bring about more business opportunities and long-term business growth. However, this must be done under the suitable risk management by considering the Company’s contractual obligations to the insureds.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 8 Decent Work and Economic Growth, Goal 9 Industry, Innovation and Infrastructure, and Goal 10 Reduced Inequalities.
3. Sustainable Investment Focusing on ESG Issues
The Company has investment policy and procedure that takes ESG into account and sets business types that MTL will not invest in which have main incomes or operations from generating negative impact on economy, society, and environment (exclusion list). Additionally, the Company allocates investments in Thai and foreign instruments which support ESG.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 9 Industry, Innovation and Infrastructure and Goal 16 Peace Justice and Strong Institutions.
4. Efficient Risk Management Focusing on ESG Issues
The Company sets enterprise risk management guideline by integrating ESG risk management and organizational risk management in order to comply with international standards and practices to ensure stable and sustainable growth of the operation.
This policy addresses the UN Sustainable Development Goals (SDGs) Goal 16 Peace Justice and Strong Institutions.
5. Market Conduct
The Company is aware of importance to providing fair customer service by taking customers’ interests into account, from product design process, presales process, sales offering process, until after-sales process.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 9 Industry, Innovation and Infrastructure and Goal 16 Peace Justice and Strong Institutions.
6. Cyber Security and Personal Data Protection
The Company controls, audits, and continuously increases cyber security and personal data protection awareness to executives and employees by setting Personal Data Protection Policy to maintain data security of customers and related parties to stabilize the Company's IT system.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 9 Industry, Innovation and Infrastructure and Goal 16 Peace Justice and Strong Institutions.
Social Aspect
Goal: Create Sustainable Society
Commitment: The Company creates opportunities as well as building good relations to improve the life quality of our employees and people in the society for happiness and smiles in a sustainable society.
Social Aspect comprises 4 main policies as follows:
1. Life Insurance Inclusion and Financial Planning and Life Insurance Literacy
The Company has developed products to enable each group of customers to have insurance and coverage that meet their needs under the suitable premium rate with objective to improve their lives. Furthermore, the Company determines to build Life Insurance Inclusion and Financial Planning to general public by arranging trainings about financial planning and life insurance as well as retirement planning (Financial Literacy) and ESG for employees and agents.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 1 No Poverty, Goal 3 Good Health and Well-being, Goal 4 Quality Education, Goal 5 Gender Equality, Goal 8 Decent Work and Economic Growth, and Goal 10 Reduced Inequality.
2. Human Resources Management “Best Place to Work”
The Company recognize to create the engagement between company and our employees and also aims for “Best Place to Work” by establishing Human Resource Management Policy as well as developing Equal Treatment Guidelines for employees, improving welfare for employees and their families. Moreover, the Company has encouraged the employees to continuously participate in seminar trainings to enhance their abilities (upskilling and reskilling) to adapt and grow together with the organization sustainably. Besides, the Company puts importance on the employees’ health and hygiene especially during COVID-19 pandemic.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 3 Good Health and Well-being, Goal 4 Quality Education, Goal 5 Gender Equality, Goal 8 Decent Work and Economic Growth, and Goal 10 Reduced Inequality.
3. Respect for Human Rights
The Company has a respect and promotes human rights by formulating Human Rights Policy and Employment Guidelines for the elderly, underprivileged people, disabled persons, vulnerable persons, and LGBTQ+, as well as promoting gender equality.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 10 Reduced Inequality and Goal 16 Peace Justice and Strong Institutions.
4. Operation of Corporate Social Responsibility and Creation of Green DNA for Employees
The Company is committed to develop and improve quality of life of the public for sustainable society through social activities in 5 aspects : education, religion, culture, social quality development,
sports and health promotion of Thai citizens and environmental conservation. Furthermore, the Company has supported activities for the public interest and promoted the volunteer activities of employees to instill the values of public spirit by establishing projects to continuously create positive change for the society. Moreover, the “Green DNA” is created for employees at all levels to work by focusing on sustainable development in every process and becoming organizational culture.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 1 No Poverty, Goal 3 Good Health and Well-being, Goal 4 Quality Education, Goal 5 Gender Equality, Goal 8 Decent Work and Economic Growth, Goal 9 Industry, Innovation and Infrastructure, Goal 10 Reduced Inequality, and Goal 14 Life Below Water.
Environmental Aspect
Goal: Environmentally Friendly in Our Own Operations
Commitment: The Company places importance on the protection of environment and reduction of impact from climate change by effectively using resources and creating positive impact to the environment.
Environmental Aspect comprises 2 main policies as follows:
1. Environmentally Friendly and Reducing the Environmental Impacts of Our Own Operations
The Company is aware of the importance of the environmental conservation and natural resources protection to alleviate impacts which may be arising from climate change. The Company has developed the operational plan to manage environment-related issues. The plan covers 3 scopes comprising our own operation (scope 1 and scope 2) and other indirect operation (scope 3) such as use of gasoline, reduction of electricity consumption, waste management, and water management. Furthermore, the Company has emphasized on cultivating awareness of environmental conservation and natural resources protection among executives and employees to ensure that the Company’s operations will create a positive impact on the environment in line with the national goals and the Paris Agreement.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 1 No Poverty, Goal 3 Good Health and Well-being, Goal 6 Clean Water and Sanitation, Goal 7 Affordable and Clean Energy, Goal 12 Responsible Consumption and Production, Goal 13 Climate Action, and Goal 17 Partnerships to achieve the Goal.
2. Leading Insurance Company with Environmentally Friendly Innovation “Green Insurer”
The Company has been determined to be the leader in life insurance innovation by encouraging the introduction of innovation and modern technology to improve operational processes and services in all dimensions. It is also to satisfy the customers and promote the matter of being more environmentally friendly.
This policy addresses the UN Sustainable Development Goals (SDGs), comprises Goal 8 Decent Work and Economic Growth, Goal 9 Industry, Innovation and Infrastructure, Goal 12 Responsible Consumption and Production, and Goal 17 Partnerships to achieve the Goal.