The company has announced its Sustainable Development framework and policy to ensure that all departments implement it effectively in their business operations. To support this, the company has established a governance structure for sustainable development, serving as a key mechanism to drive and communicate its Sustainability (ESG) goals to executives and employees across the organization. This approach ensures proper execution and alignment of operational plans in a unified direction, maximizing value for all stakeholders in a meaningful way.
Moreover, the company is dedicated to contributing to achieving the United Nations Sustainable Development Goals (SDGs). It has developed a comprehensive sustainable development framework and policy that addresses environmental, social, governance, and economic aspects, comprising a total of 12 policies. The details of these policies are as follows:Environmental Aspect Social Aspect Governance and Economic Aspect
Goal: Driving a Sustainable Business
Commitment: To create sustainable returns by operating on strong corporate governance and risk management foundations of international standards, while focusing on value creation for society through sustainable products and investments.
Governance and Economic Aspect comprises 7 main policies as follows:
1) Responsible Insurance Product OfferingConsidering environmental, social and governance criteria in designing insurance products and services to encourage responsible behavior, developing products that incorporate ESG factors such as healthy lifestyle and safe behavior and sustainability-related initiatives and technologies, providing customers with appropriate premium rates and timely, adequate, and relevant insurance coverage as well as ensuring accessibility and inclusiveness of insurance products and services to achieve broad reach across all segments of society, while addressing needs of specific groups.
This policy addresses the UN Sustainable Development Goals (SDGs):
2) Sustainable Investment on ESG Issues
Investment policies that consider environmental, social and governance/economic (ESG) factors, including climate-related solutions. This includes responsible investment guidelines and allocating investments to support ESG-linked initiatives.
This policy addresses the UN Sustainable Development Goals (SDGs):
3) Good Corporate Governance
Business operations are in accordance with the principles of Good Corporate Governance, which involves adherence to the Code of Conduct, transparency, accountability, and awareness of responsibilities to all stakeholders. The Company’s policies and business practices conform to applicable laws and regulations, including the implementation of a mechanism to prevent financial crimes and anti-corruption.
This policy addresses the UN Sustainable Development Goals (SDGs) :
4) Risk Management, Business Continuity Management and Financial Resilience
The process to identify, assess, respond and monitor the risks faced by the business which includes emerging risk and Business Continuity Management (BCM) to ensure that the amount of risk taken during business operation is in line with the defined risk appetite set out by the company, moreover, it covers Capital Adequacy Ratio (CAR) which shows the ability of an organization to withstand and recover from unexpected financial hardship and disruptions (Financial Resilience).
This policy addresses the UN Sustainable Development Goals (SDGs):
5) Market Conduct
Providing fair service to customers, focusing on their benefits, from product development and launch process, selection of sales representative, preparation before sales offering process, sales presentation process, after-sales service, as well as utilization of sales technology, life Insurance policy benefits payment and delay of life insurance policy indemnification, complaint handling, and data privacy to ensure that customers, beneficiaries or the person entitled to claim under the insurance policy are treated fairly, with quality, accountability and in accordance with relevant laws, rules, and regulations.
This policy addresses the UN Sustainable Development Goals (SDGs):
6) Cybersecurity and Data Protection
Measures taken to protect computers, computer systems or personal data from unauthorized access as well as promoting awareness and understanding on cyber security and protecting the privacy of customer data, measures for data collection, use, storage, and disclosure, including the use of personal data in accordance with Personal Data Protection Act (PDPA).
This policy addresses the UN Sustainable Development Goals (SDGs):
7) Digital and Green Innovation
Applying innovation and technology to improve working processes and improve service efficiency which can reduce the impact of business operations on the environment.
This policy addresses the UN Sustainable Development Goals (SDGs):