Our business purpose is at the heart of how we view sustainability. That purpose is to help people to manage risk and recover from the hardship of unexpected loss.
Living to our purpose requires taking a long term view - assessing future environment, social and governance risks and emerging trends, and making sure these inform today’s decision making.
Our day to day decision making considers both the fulfilment of our purpose, and the long term prosperity of our customers, the community, our people, suppliers, the natural environment and our investors. Each of these aspects is inherently interconnected with each other.
Business sustainability is the intended outcome of a successful business strategy. To achieve this we take a balanced approach across five key dimensions.
Economic performance – By anticipating and managing both external and internal influencers of our financial performance we deliver sustainable financial returns. Our economic performance underpins our ability to deliver value, not only to our shareholders, but to all those who rely on us – including our workforce, customers, communities and the natural environment.
Customers – Our relationship with our customers extends beyond paying claims and how we help get customers back on the road or back to work or replace goods or assets. Central to the future value that we deliver to customers is how we anticipate and respond to our customers’ changing needs, how we help customers to reduce risk to avoid unnecessary hardships, and to keep premiums affordable. Investing in these areas will ensure that we deliver innovative products and services to meet customers’ future needs in an effective and timely manner.
Our people – Everyday we are looking after our people by building a supportive culture and delivering a comprehensive suite of employee benefits. Investing in our culture includes working hard to attract and retain the right people with the right skills and capabilities to meet current and future business requirements – and extends to ensuring our people are engaged, motivated, and proud of where and how they work, plus aim to go above and beyond to help our customers each day.
Community – We invest in New Zealand. Our partnerships that promote safety and resilience at home, in business, and on the road make good sense as the community benefits from effective risk management, fewer unnecessary hardships and more affordable insurance, helping our communities become more resilient. It also creates a better economic outcome for us which, in turn, enables our further investment in the community and to address insurance affordability.
Natural environment – We are managing the environment’s impact on our business as well as our impact on the environment. The last couple of years have shown the impact that natural perils can have on our lives, lifestyles, and livelihoods. As our properties, communities and livelihoods become more vulnerable to the risk of increasingly severe events, it makes commercial sense for us to share our knowledge to encourage greater resilience. We are partnering to do so – seeding mitigation and adaptation activities.
Our people understand that we all have a role to play in managing, measuring and reducing our carbon footprint. Over the past seven years we have been improving how we operate and manage our use of consumables and utilities across our operations. And we’re working with our suppliers to achieve more sustainable outcomes for our business, customers, partners and communities.