Climate Change Data

Environmental Metrics

ESG Focus Areas

• Customer Satisfaction
• Employee Development
• Diversity & Empowerment
• Community Support
• Climate Change
• Digital Transformation & Innovation
• Governance, Ethics & Compliance
• Responsible Investment
• Product Responsibility
• Data Privacy
• Resource Utilization
• Waste Management
• Energy Efficiency

Environmental Achievements

• Reduced environmental footprint through paperless claims review for motor business
• Conscious efforts to reduce water consumption

Social Achievements

• Launched LivFit wellness program
• Launched Women’s Network initiative
• Conducted 45 virtual training sessions for employees
• Ramadan Motor Campaign with Emirates Red Crescent, contributing AED 25,000 to support families in need

Governance Achievements

• Established Board Risk Committee
• Maintained strong financial ratings (A2 by Moody’s, A by AM Best, A- Positive by S&P)
• Achieved 99.9% IT service availability
• Secured ISO 27001 certification

Climate Goals & Targets

Environmental Challenges

• Uncertainty surrounding COVID-19 variants
• Downward pressure on prices in motor and medical insurance lines
• Claim frequency and medical service utilization returning to pre-COVID levels without adequate premium adjustments

Mitigation Strategies

• Readjusting premiums upwards while maintaining customer service
• Lean management initiatives to improve efficiency
• Digital transformation to enhance customer experience and competitive advantage
• Robust risk appetite framework and capital thresholds based on pandemic risk and other stress scenarios
• Regular reviews of reinsurers and updated reinsurer security list
• Robust collection and credit control process

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, DFM guidelines

Certifications: ISO 27001

Awards & Recognition

• Best Implementation of Digital & Social
• Digital Insurer of the Year
• General & Life Insurer of the Year
• Life Insurer of the Year
• Motor Insurer of the Year
• Best Insurance Solutions Provider of the Year
• Best Health Insurance Company
• Health Insurer of the Year
• Building Public Trust - Consumer Marketing and Awareness
• General Insurer of the Year
• Digital Initiative of the Year
• Health Insurer of the Year
• Insurance Customer Satisfaction & Happiness– UAE
• MOHRE: Best Company in UAE National Recruitment 2019
• MOHRE: Best company in posting UAE Nationals Vacancies 2019
• IA: Outstanding company in the application of the Emiratization regulations 2019
• IA: Outstanding company in the application of Emiratization regulations 2020
• LOMA Excellence in Education award 2019
• Golden shield Excellence in Education award 2018
• MIIA Educational and Training initiative of the year 2017
• InsureTek award 2022 Educational and Training Initiative of the Year

Environmental Metrics

ESG Focus Areas

• Digital Transformation & Innovation
• Customer Satisfaction
• Product responsibility
• Governance, Ethics & Compliance
• Data Privacy
• Responsible Investment
• Employee Development
• Resource Utilization
• Diversity & Empowerment
• Community Support
• Climate Change
• Waste Management
• Energy Efficiency

Environmental Achievements

• Reduced paper usage through paperless claims review for motor insurance

Social Achievements

• Launched employee well-being programs (LivFit, Employee Coaching, Women’s Network)
• Ramadan Motor Campaign with Emirates Red Crescent supporting families in need
• Partnership with College of Banking and Financial Studies for student internships and training
• Participation in Al Mouj Muscat Marathon for charity

Governance Achievements

• Established Board Risk Committee
• Improved internal control system (ADHICS-certified)
• Implemented various compliance policies (AML, CTF, Sanctions, Whistleblower, etc.)

Climate Goals & Targets

Environmental Challenges

• Increased energy consumption due to larger facility and data center
• Increased water consumption due to larger facility

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ADHICS

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• 20 awards in 2022 (including Insurer of the Year, Digital Initiative of the Year, Best Health Insurance Company, etc.)

Environmental Metrics

ESG Focus Areas

• Digital Transformation & Innovation
• Customer Satisfaction
• Product responsibility
• Governance, Ethics & Compliance
• Data Privacy
• Responsible Investment
• Employee’s Development
• Utilization of resources
• Diversity & Empowerment
• Community Support
• Climate Change
• Waste management
• Energy Efficiency

Environmental Achievements

• Reduced paper usage through paperless claims review for motor insurance.

Social Achievements

• Launched LivFit wellness program for employees and customers.
• Established Women’s Network initiatives.
• Employee Coaching program for life and career advancement.
• Care packages given to Gazan families in need.
• Internship Training Program in Oman.
• Water bottle cap recycling initiative in Oman.

Governance Achievements

• Established Board Risk Committee (BRC) in 2021.
• Internal Audit Department achieved AAMEN Certification and ISO 27001 certification.

Climate Goals & Targets

Environmental Challenges

• Inflation as a persisting risk, especially in Motor and Medical lines.
• Introduction and implementation of corporate tax regime in the UAE.

Mitigation Strategies

• Cost discipline and claims containment measures.
• Investments in technology and digitalization.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: AAMEN, ISO 27001

Awards & Recognition

• 28 awards in total, including ‘Digital Transformation of the Year’, ‘Insurance Customer Satisfaction & Happiness UAE’, ‘3G Service Excellence’, and ‘3G Best Social Impact’ awards.