Creating
Shared Value

Shared value is the intersection of a business opportunity and a social problem. Our shared value approach helps us deliver on our purpose – to make your world a safer place – in a way that drives commercial value for our employees, partners and shareholders. We use our deep understanding of risk to support and enable customers and communities to be Safer, Stronger and More Confident – the three pillars of our shared value framework. This helps reduce loss and hardship, decreases our claim costs and improves our profitability.

Our shared value framework and the initiatives we pursue are informed by the material issues that are relevant to our stakeholders and our business. This year, we continued to build closer relationships with our customers, stakeholders and communities, deepening our understanding of complex issues, including affordability and access to insurance in high natural peril areas, or adjusting to the impact of climate change, many of which cannot be solved quickly, or with a single solution.

The things we learned through our engagement enabled us to make progress on delivering the goals in our shared value framework, while also supporting IAG’s goals of delivering world-leading customer experiences, simplicity and scalability, and agility.

MATURING OUR SHARED VALUE APPROACH

We have continued to refine our approach by engaging almost 2,000 people across our operating markets to identify a business-relevant social issue to tackle using our scale, expertise and networks. Over the next year, our aim is to start creating longer term, systemic impact by exploring and implementing new approaches to building social and physical resilience within communities.

IAG’s own sustainability performance is a key focus within our shared value framework, and this year we have continued to enhance our governance and approach to responsible business and sustainability by developing targets and commitments which are identified over the following three pages.

We are committed to promoting shared value by sharing our learnings and expertise with other companies, supporting organisations like the Shared Value Project and inviting our partners to attend internal training and workshops.

Within our business, we continue to embed shared value by holding workshops, running shared value modules in leadership programs and integrating shared value into business planning processes. We are equipping our people with practical knowledge and tools that enable them to apply shared value approaches in their everyday work.

We are working to improve the way we measure social and business outcomes so we can objectively assess the impact of our work, maximise the social and business value of our investments and use this understanding to further guide our approach and activities. Developing a more mature approach to measurement and evaluation is a challenge shared by other organisations. We are responding to this challenge by developing and testing a measurement framework in conjunction with our partners, experts in outcomes measurement and IAG’s data and technology experts.

RECOGNITION FOR IAG’S SUSTAINABLE PRACTICES

DOW JONES
SUSTAINABILITY INDEX

Ranked in DJSI World, Asia Pacific and Australia in 2015

ROBECOSAM

Received the RobecoSAM Bronze class distinction in 2016

FTSE4GOOD INDEX

Included in the FTSE4Good Index Series

AUSTRALIA HR AWARDS

Finalist, Best Workplace Diversity & Inclusion Program in 2016

CDP

Australian Climate Leadership Award for Consistently High Quality Climate Change Disclosure 2006-2015

RESILIENT AUSTRALIA
AWARDS WINNER
(NEW SOUTH WALES)

Resilient Australia Business Award for StormSafe campaign

Refer to the shared value section of IAG’s website for more information on our shared value approach. This includes a detailed description of our shared value framework, pillars and focus areas as well as initiatives and projects that demonstrate shared value in action