Climate Change Data

Environmental Metrics

ESG Focus Areas

• Employee well-being
• Community investment
• Diversity and inclusion
• Responsible business practices

Environmental Achievements

• Partnered with Arctaris Impact Investors and the Erie Community Foundation to facilitate opportunity zone projects, including a plastics recycling company.
• Donated 700+ Google Chromebooks to schools and nonprofits.

Social Achievements

• Launched a new mobile app for customers.
• Expanded digital capabilities with new claims tools (Preferred Method of Inspection and Photo Appraisal).
• Launched and enhanced several products (ErieSecure Business®, ERIExpress Life, ERIE Rate Lock®, YourTurn®).
• Provided $400 million in financial relief to customers through rate reductions and policyholder dividend payments.
• Provided a lead gift of $100,000 to support the Erie Community Foundation’s COVID-19 Rapid Response Fund.
• Made an additional $2.5 million available to agents and branch offices to support charitable work in their local communities.
• Hosted listening sessions and conversations related to racial inequality.
• Appointed an employee to the CEO Action for Racial Equity Fellowship Program.
• Donated 2,560 pounds of produce to the Erie City Mission through the Community Garden Project.
• 93% of employees consider ERIE a Great Place to Work.

Governance Achievements

• No specific quantified achievements mentioned in the report related to governance.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on operations, customer demand, and the economy.
• Increased agent incentive costs due to lower claim frequency.
• Increased technology costs to support remote work.
• Potential for sustained changes in driving patterns.
• Maintaining customer service in a remote work environment.
• Competition in the property and casualty insurance industry.

Mitigation Strategies

• Equipped over 95% of employees to work remotely.
• Implemented business continuity plans.
• Launched new digital tools and products to enhance customer experience and efficiency.
• Provided financial relief to customers.
• Supported local communities through charitable contributions.
• Addressed racial inequality through listening sessions and fellowship programs.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• 2nd in Customer Satisfaction (mid-sized insurers) J.D. Power 2020 U.S. Insurance Shopping Study
• 2020 Top Pick, Renter’s Insurance Best Comprehensive Coverage, Money
• Great Place to Work® Certified
• America's Best Employers for Women Forbes
• Best-in-State Insurance Companies Forbes
• America’s Best Customer Service Companies Homeowners Insurance, Newsweek 2020
• Achievement in Customer Excellence Confi rmit
• A+ (Superior) rating A.M. Best
• America’s Best Employers for Diversity Forbes
• Best Employers: Excellence in Health & Well-Being Platinum Award, Business Group on Health
• America’s Best-In-State Employers 2020 Pennsylvania, Forbes

Environmental Metrics

ESG Focus Areas

• Diversity, Equity, and Inclusion (DEI)
• Community Investment
• Environmental Stewardship

Environmental Achievements

• Planted 1492 trees through Community Canopy
• 7 tons of unwanted electronics kept from landfills through company-sponsored recycling

Social Achievements

• Continued to build the activation of our longtime commitment to diversity, equity and inclusion (DEI).
• Erie Insurance Giving Network’s Investing In Our Future grant program provided more than $500,000 in grant investments to support Erie nonprofits working to strengthen out-of-school programs and early childhood education.
• Leveraged business tax credit programs in Pennsylvania to provide more than $2 million to support community improvement in distressed neighborhoods, including affordable housing programs, community services, crime prevention, education and job training.
• ERIE is an investor in a social impact opportunity zone fund and has committed $20.5 million to help fund companies and development projects in underserved communities across our territory.
• 86% of Employees agreed that ERIE is a great place to work in an all-Employee engagement survey conducted in June.

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Tumultuous economy and increased activity from Mother Nature drove the Exchange’s combined ratio up and policyholder surplus down.
• Navigating the new era of hybrid work.
• Pace of technology and changing consumer behaviors heightened the sense of urgency to modernize platforms and introduce new digital capabilities.
• Higher than usual weather-related claims (close to 70,000 compared to roughly 50,000 in 2022).
• Customers shopping for more affordable rates due to industry-wide rate increases.

Mitigation Strategies

• Sharpening focus and honing ability to work faster and smarter.
• Taking measures aimed at balancing growth and profitability.
• Transforming to keep at the top of the competition while staying true to the business model.
• Rate increases (deliberate approach).
• Reinforcing focus on tightened underwriting standards.
• Partnering with agencies on individualized profitability action plans.
• Modernizing legacy platforms to reduce expenses in the long term.
• Being strategic about hiring and reskilling.
• Identifying processes conducive to automation.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Increasing spend with diverse suppliers, many of whom are small businesses

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather conditions

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Great Place To Work Certification™ 2023

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• #1 in Overall Customer Satisfaction for Homeowners Insurance in the J.D. Power 2023 U.S. Home Insurance Study
• #1 in Overall Customer Satisfaction for Renters Insurance in the J.D. Power 2023 U.S. Home Insurance Study
• A+ (Superior) Rating AM Best 2023
• Great Place To Work Certification™ 2023
• Best Employer for Excellence in Health + Well–being Business Group on Health 2023
• #414 on the Fortune 500®
• #5 in Best Homeowners Insurance Companies U.S. News 360 Reviews
• #5 in Best Renters Insurance Companies U.S. News 360 Reviews
• 2023 Diversity Impact Awards Global ERG Network, four awards
• Best of the Best 2023 Black EOE Journal
• Hispanic Network Magazine
• Professional Woman’s Magazine
• 2023 American Opportunity Index Top 100 Employer for Workplace Culture
• 2023 Culture of Health and Well-being Platinum Level American Heart Association