At IAG NZ, being sustainable means taking a long term view - assessing future risks and emerging trends, and making sure these inform today’s decision making.
We believe that long term sustainability requires us to have financial viability, a strong and loyal customer franchise, appropriately skilled, engaged and governed employees, and an active commitment to support the communities and environments in which we operate. These dimensions cannot be viewed in isolation because they are inherently interconnected.
Business sustainability is the intended outcome of a successful business strategy. It is not a separate initiative or something that is discretionary in difficult times. To achieve this we take a balanced approach across five key dimensions.
Economic sustainability - driving financial performance and capital strength to create long term value for shareholders. This includes assessing and managing risk effectively to ensure balance as well as transparency;
Customer sustainability - understanding true customer needs; delivering innovative products and services that meet these needs in an effective and timely manner; ensuring customers become real advocates of our business;
Workforce sustainability - attracting and retaining the right people with the right skills and capabilities to meet current and future business requirements. This includes ensuring that employees are highly engaged and motivated and putting in place effective governance structures;
Community sustainability - leveraging our own experience to play a meaningful role in identifying and mitigating risk in the community. For example, as a major car insurer, we can draw significant insights from our claims data that can be used to improve road safety; and
Environmental sustainability - managing the environment’s impact on our business as well as our impact on the environment. Over the last year, we have proactively moved beyond climate change advocacy to definitive action focused on mitigation and adaptation to ensure the resilience of our business, our customers and the communities in which we operate.
More information on each of these five dimensions can be found in IAG NZ's Business Sustainability Approach