Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Governance
• Customer Satisfaction
• Employee Well-being
• Partner Relationships
• Environmental Responsibility
• Social Contribution

Environmental Achievements

• Reduced CO2 emissions from 5,290 tons in 2006 to 4,740 tons in 2008.
• Reduced electricity usage from 8,858,000 kWh in 2006 to 8,243,000 kWh in 2008.
• Reduced water usage from 28,066 tons in 2006 to 22,053 tons in 2008.
• Reduced gas usage from 605,000 m³ in 2006 to 481,000 m³ in 2008.
• Achieved ISO 14001 certification for environmental risk management in 2008 (first non-life insurance company globally).

Social Achievements

• Launched various employee well-being programs, including a cafeteria-style benefits program and flexible work arrangements.
• Improved employee satisfaction index (ESI) from 69.1 in 2007 to 73.1 in 2008.
• Consistently ranked highly in customer satisfaction surveys.
• Implemented a win-win partnership program with sales and claims service partners.
• Conducted extensive social contribution activities, including the Promy Heart Fund and volunteer programs.

Governance Achievements

• Maintained a high compliance index (83.2 in 2008).
• Received an “A (Excellent)” rating from A.M. Best and a “BBB+ (Stable)” rating from Standard & Poor’s.
• Implemented a robust risk management system, including response to the RBC system and RAAS.
• Improved corporate governance practices, including transparent disclosure and active investor relations.

Climate Goals & Targets

Environmental Challenges

• Global financial crisis impacting investment yields and policyholder numbers.
• Large insurance risk related to shipbuilding downturn.
• Competition from other financial service providers.
• Growing societal demands for corporate social responsibility.

Mitigation Strategies

• Developed a contingency plan to minimize the fallout of the financial crisis.
• Established a task force team for debt management to address shipbuilding risk.
• Implemented profit-centered management and management innovation strategies.
• Strengthened risk management and capital management practices.

Supply Chain Management

Responsible Procurement

• Preferential consideration given to green products and suppliers with environmental marks.

Climate-Related Risks & Opportunities

Physical Risks

• Storms, floods

Transition Risks

• Regulatory changes related to climate change

Opportunities

• Development of climate-related insurance products

Reporting Standards

Frameworks Used: GRI G3 Reporting Guidelines, GRI Financial Service Sector Supplement, BEST Guideline

Certifications: ISO 9001, ISO 14001, OHSAS 18001, ISO 27001, CCMS

Third-party Assurance: Institute for Industrial Policy Studies (IPS)

Sustainable Products & Innovation

• Windstorm and Flood Insurance
• Bicycle Accident Insurance
• Evergreen auto insurance

Awards & Recognition

• DJSI Korea top company in insurance sector (2009)
• KRX SRI Index component (2009)
• Various other awards related to customer satisfaction, ethics, innovation, and sustainability

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Obtained ISO 14001 certification for environmental management system and KSI 7001/7002 certification for green management system.
• Selected as a leading company in weather management.

Social Achievements

• Selected as the “best non-life insurer” in the Evaluation of Financial Consumer Protection.
• Launched “Convenient, Family Love Care Insurance” for the anamnesis group and the elderly.
• Installed 299 Yellow Carpets to improve children’s traffic safety.

Governance Achievements

• Acquired “ISO 19600” certification for compliance management system.
• Established a group risk management council for preemptive response to integrated supervision of financial groups.

Climate Goals & Targets

Environmental Challenges

• Higher loss ratio due to climate change impact and greater channel competition due to slow domestic economy.
• Rapid changes in policies/systems and economic cycles.
• Changes in accounting standards (IFRS17, IFRS9) and the supervisory system (K-ICS).
• Increasing insurance fraud risks.
• Rapid development in digital technology changing the insurance value chain.

Mitigation Strategies

• Implementing “Growth in Company Value through Efficient Management” program.
• Strengthening ALM-based asset management system and capability.
• Building a risk management system containing the K-ICS standard model and its internal model in the IFRS17 integrated system.
• Reorganizing the SIU Part into the SIU Operation Part and the SIU Support Part.
• Establishing a mid- to long-term InsurTech innovation roadmap.

Supply Chain Management

Responsible Procurement

• Request for cooperation to establish ethical culture sent to all clients and accounts, including goods suppliers, loan recruiters, car repair shops, etc.

Climate-Related Risks & Opportunities

Physical Risks

• Higher loss ratio due to climate change impact (heavy rains, etc.)

Transition Risks

• More stringent regulations on climate change

Opportunities

• Development of eco-friendly auto insurance rider (UBI rider, etc.)
• Development of Environmental Impairment Liability (EIL) Insurance

Reporting Standards

Frameworks Used: GRI Standards, International Integrated Reporting Framework, UN Global Compact

Certifications: ISO 14001, KSI 7001/7002, ISO 19600, OHSAS 18001

Third-party Assurance: KFQ (Korean Foundation for Quality)

UN Sustainable Development Goals

• Goal 4
• Goal 11
• Goal 13
• Goal 1
• Goal 3
• Goal 10

DB Insurance strengthens related activities by selecting key goals linked to its sustainability management among the 17 sustainable development goals.

Sustainable Products & Innovation

• SmarT-UBI Auto Insurance
• Electric Vehicle Exclusive Auto Insurance
• Environmental Impairment Liability (EIL) Insurance
• Disaster liability insurance product
• Special contract for earthquake risk insurance product
• Special contract for storm and flood damage insurance product
• Crop insurance product

Awards & Recognition

• World rating in the Dow Jones Sustainable Index for 6 consecutive years
• A/Stable credit rating from S&P Global
• National Quality Grand Prize
• National Quality Masters for 2 consecutive years
• Gold Prize and Bronze Prize in the National Quality Management Convention
• Best non-life insurer in the Evaluation of Financial Consumer Protection
• FSS Governor’s award for being “meritorious institution in the financial consumer protection category in 2018”

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Reduced GHG emissions (Scope 1, 2, and 3)
• Acquired ISO 14001 certification
• Established "2050 Carbon Neutral Promotion System"

Social Achievements

• Launched "Simple and Easy Health Insurance for Me" for the underprivileged
• Installed 843 yellow carpets in elementary schools
• Supported 15 startups through the "Insurtech Startup Incubation Program"

Governance Achievements

• Acquired ISO 19600 and ISO 37301 certifications
• Established a company-wide compliance management system
• Maintained a compliance index of 96.6 points

Climate Goals & Targets

Environmental Challenges

• Deteriorating profitability in the domestic insurance market due to increasing loss ratios and business costs
• Increasingly sophisticated insurance fraud
• Climate change risks

Mitigation Strategies

• Ongoing business innovation activities
• Developed the DB T-System for insurance fraud detection
• Established a company-wide disaster response system
• Implemented a climate change risk management strategy

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Fair trade voluntary compliance regulations
• Annual notices to suppliers on ethical conduct

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters

Transition Risks

• Changes in consumer behavior towards eco-friendly products
• Environmental regulations

Opportunities

• Expansion of environmental liability insurance and eco-friendly insurance products

Reporting Standards

Frameworks Used: GRI Standards 2021, Financial Service Sector Supplement, UN Global Compact

Certifications: ISO 14001, ISO 19600, ISO 37301, ISO 45001

Third-party Assurance: BSI (British Standards Institution)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Environmental Liability Insurance
• Eco-friendly insurance products
• Safe Driving UBI car insurance
• Electric Vehicle Exclusive Auto Insurance

Awards & Recognition

• E-Daily Korea Financial Consumer Award
• Korea Financial Grand Prize for Casualty Insurance
• Korea Financial Innovation Awards for Digital Transformation