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  3. Group Core CSR Themes and Materiality~What Types of Issues Are We Addressing?~

Group Core CSR Themes and Materiality~What Types of Issues Are We Addressing?~

With the adoption of the Sustainable Development Goals (SDGs) in September 2015, there are rising expectations that companies will work toward realizing an even more sustainable and highly resilient world. In collaboration with stakeholders, Tokio Marine Group is leveraging its expertise and know-how in insurance and risk management to contribute to the resolving of various societal issues that include the frequent occurrence of large-scale natural disasters, shifting demographics, the changing environment resulting from technological innovation and poverty.

Core CSR Themes and CSR Approach of Tokio Marine Group

Core CSR Themes of Tokio Marine Group

Tokio Marine Group has set “Providing Safety and Security,” “Protecting the Earth” and “Supporting People” as the Group’s core CSR themes within our “To Be a Good Company 2017 (FY2015 – FY2017)” mid-term business plan.

CSR Approach of Tokyo Marine Group

Tokio Marine Group established the “Tokio Marine Group’s CSR Approach.” By taking this approach, our self-motivated employees will act with integrity and compassion, and as this spreads throughout organizations and the Group, we believe that it will create a virtuous cycle of developing innovative products and services along with contributing to local communities and society. Moreover, this cycle will lead to the sustainable growth of the Group. These efforts will serve as a bridge to our children and to future generations as we seek to transform risks into opportunities and create value for a safe, secure and sustainable future.

From fiscal 2015 onward, while recognizing that the three core CSR themes will be integrated into business activities, we will implement CSR activities with the participation of all employees based on the above CSR approach across a wide range extending from the provision of products and services to corporate citizenship activities. Accordingly, we will communicate our principal CSR initiatives to society through this Sustainability Report and the media while also promoting easily understandable measures to permeate these initiatives within the Group.

Core Theme 1: Providing Safety and Security

The world is now facing various social issues, inflicted by frequent large-scale natural disasters, demographic shifts, income disparities and poverty. In Japan as well, issues are becoming prevalent also in relation with technological innovation as well as community resilience (disaster prevention and mitigation) and the country’s declining birth rate and aging population. These issues may induce drastic changes in risks surrounding the insurance business. To protect customers and society from these risks, Tokio Marine Group has selected “Providing Safety and Security” as one of its three CSR core themes and is making efforts toward a safe, secure and sustainable future throughout its entire business operations.

Making Society Resilient to Natural Disasters

Tokio Marine Group utilizes outcomes of research on natural disaster risk in the provision of products and services and seeks to help society become resilient to and prepare for natural disasters by offering total responses before and after disasters.

Building a Secure Society by Leveraging Traffic Technology Innovation

Tokio Marine Group promotes traffic safety and responds to traffic technology innovation by providing insurance products and services that quickly capture the latest innovation in traffic technology and by offering traffic safety and accident response smartphone apps.

Building a Secure Society by Responding to Varying Lifestyles and Changes in Society

Tokio Marine Group offers products and services that increase safety in all aspects of people’s living, and at the same time, is working to provide comprehensive coverage matched to the most current needs by starting to provide services to respond to corporate governance and cyber risks facing companies.

Eliminating Poverty in Society

Tokio Marine Group aims to provide low-income earners with greater access to insurance by developing and selling weather insurance and microinsurance and to contribute to the resolution of poverty issues in the world through financing to and investment in financial institutions providing microfinancing services.

Improving Quality from the Customer’s Perspective

Aiming to become “a company that delivers sustainable growth by providing safety and security to customers and by always remaining their first choice,” we value feedback from customers while working with agents to improve operational quality on a constant basis.

Through these initiatives, Tokio Marine Group is enhancing its provision of safety and security to customers around the world and to local communities and societies.

Value Creation Providing safety and security to customers, local communities and society worldwide through the insurance business

Core Theme 2: Protecting the Earth

The global issues of “climate change and natural disasters” and “depletion of biodiversity” pose serious risks for the children not only of today but also of the future and at the same time have a significant impact on the business of Tokio Marine Group.

Having set “Protecting the Earth” as a core CSR theme, Tokio Marine Group works to provide products and services that are designed to mitigate or adapt to climate change and protect biodiversity, reduce environmental footprint in business activities, become carbon neutral, conduct environmental protection activities in Japan and overseas, and promote environmental awareness raising and education. Our aim is to contribute to preservation of the global environment and the creation of environmental value.

Promoting Environmental Management

Tokio Marine Group will contribute to the creation of a sustainable future by constantly implementing activities that minimize the environmental footprint in business activities, such as reducing the consumption of paper resources and saving energy.

Preserving Biodiversity through Products and Services

The “Green Gift” project, which involves mangrove planting and environmental protection activities, contributes to the alleviation of and adaptation to climate change and preservation of biodiversity as well as a reduction in disaster damage and the stabilization of the planted areas and the lives of people living in the surrounding regions. It therefore contributes to the attainment of various SDGs.

Preventing Global Warming by Promoting the Development of Clean Energy

Tokio Marine Group is examining the possibility of installing and operating renewable energy facilities while also providing products and services such as non-life insurance for businesses related to carbon credits, liability insurance concerning environmental pollution and environmental consulting.

Building Communities for People to Live with Peace of Mind through Environmental Protection Activities

Based on the theme “Protecting the Earth,” Tokio Marine Group is working to build environmental communities by implementing local and social contribution activities around the world that help protect the environment and biodiversity.

Through these initiatives, Tokio Marine Group is contributing to the creation of a sustainable global environment.

Value Creation Contributing to a Sustainable Global Environment

Core Theme 3: Supporting People

In Japan, the importance of responding to the nursing and health needs of the elderly is increasing due to the low birth rate and aging society. There is also growing demand to create societies in which people in underprivileged circumstances and those with disabilities can live with peace of mind in the community as economies and societies become more sophisticated and globalization progresses. In addition, there are calls for the acceptance, promotion and utilization of diversity in such areas as gender, age and nationality. On a global scale, the reality is that there is growing income disparity, increasing unemployment among youth, poverty and unequal opportunities for education based on gender.

Tokio Marine Group has set “Supporting People” as a core CSR theme in order to take up the challenge of resolving these issues. To this end, we will promote local community and social contribution activities supporting people through the growth of young people and support the elderly, persons with disabilities and athletes as well as contribute to the realization of a symbiotic society in which everyone can live with peace of mind by promoting diversity and inclusion.

Promoting Health and Productivity Management

Maintaining and enhancing the physical and mental health of our employees, the driving force enabling us to continue as a company that is trusted and chosen by customers, is a critical theme of the greatest priority. Each Tokio Marine Group company has been making efforts to create an environment in which employees can work with enthusiasm by providing both physical and mental health care for employees.

Developing and Utilizing Diverse Human Resources

In order to maximize the potential of our human resources in supporting global business expansion, Tokio Marine Group is working to develop human resources who bring forth a positive cycle of growth and performance/work and life with a focus on expertise, diversity and a global perspective.

Building a Society Based on Health and Longevity to Ensure Peace of Mind

Tokio Marine Group will contribute to a society based on good health and longevity through activities to raise awareness about cancer and increase knowledge of nursing care and offering advice through medical professionals, etc.

Nurturing Generations Responsible for the Future

Tokio Marine Group is promoting social contribution through the establishment of a foundation to nurture generations responsible for the future with the aim of developing youth and promoting sport. In addition, we implement local social contribution activities in conjunction with employees worldwide who volunteer to deliver lesson programs and environmental education as well as with local and social action volunteers and NGOs.

Aiming to Create a Symbiotic Society

Tokio Marine Group employees around the world are proactively working on activities that support the elderly, the deaf and blind, athletes and expectant mothers in conjunction with NGOs, with the aim of creating a symbiotic society.

By promoting these initiatives, Tokio Marine Group will contribute to developing partners who support and bring a virtuous cycle to local communities and society.

Value Creation Developing Employees and Partners Who Support and Bring a Virtuous Cycle to Local Communities and Society

Governance~Strengthening CSR Management~

Tokio Marine Group is implementing initiatives throughout its entire business activities that are focused on its three core CSR themes of “Providing Safety and Security,” “Protecting the Earth” and “Supporting People.” To earn the trust of all people and society and achieve sustainable growth, Tokio Marine Group must raise the quality of initiatives for “business strategies,” “governance” and “social responsibility” and build a structure for resilient, highly sound and transparent management as a global insurance group.

Accordingly, Tokio Marine Group is “strengthening CSR management” as the basis for CSR implementation. While responding appropriately to changes in the global economy and financial environment and the strengthening of international supervisory regulations, Tokio Marine Group will raise the level of stakeholder trust and work to create a safe, secure and sustainable future by making qualitative improvements to risk-based management (ERM: enterprise risk management), corporate governance and its internal control system from the perspective of strengthening global-based business management as well as by generating and distributing economic value. Through these initiatives, Tokio Marine Group will meet the expectations of stakeholders, beginning with continuously enhancing shareholder value.

Value Creation Continuously Enhancing Shareholder Value

Tokio Marine Group’s CSR Materiality (Material Issues)

Tokio Marine Group identified CSR issues for each of the above three core CSR themes and governance and specified their CSR materiality (material issues). We will promote initiatives by reflecting the identified CSR materiality in the Group’s CSR strategy and CSR targets.

Process for Identifying Tokio Marine Group’s CSR Materiality

Tokio Marine Group uses the following process to implement the “Disclosure 102-46: Defining report content and topic Boundaries” in “Global Reporting Initiative (GRI) Standards.”

  1. Identifying Related Issues
    The Group identified CSR issues that are subject to examination giving consideration to ways of contributing to CSR issues unique to the insurance and financial businesses and meeting the expectations of stakeholders in the future. In this examination, we analysed the Group’s value chain and identified CSR issues in each core theme giving consideration to stakeholder interests and expectations brought up during stakeholder engagement.
  2. Prioritization of Issues
    Tokio Marine Group identified Group CSR initiatives by analyzing “Feedback from stakeholder engagement (CSR dialogue) with customers, shareholders, investors, employees, agents, business partners, local communities and societies,” “CSR issues and responses to a changing business environment surrounding the Group,” and “Relation to Tokio Marine Group’s corporate principle and management vision” from the dual perspectives of “significant impact on stakeholder evaluations and decision-making (impact on stakeholders)” and “significant impact of organizations on the economy, the environment and society (impact on business)” and then identified the priority of material CSR issues and CSR issues subject to disclosure.
    • *Tokio Marine Group classified G4 “Material Aspects” into “CSR Materiality (Material Issues)” and “CSR Issues Subject to Disclosure.”
  3. Confirming the Validity of Material Issues
    The comprehensiveness of CSR issues subject to examination, the relevance to core CSR themes, CSR Materiality (Material Issues) and the validity of CSR issues subject to disclosure are confirmed at CSR dialogues (meetings for dialogue and opinion exchanges between experts and Group management) and ultimately the approval of management is obtained.
  4. Review
    The CSR Board, which consists of presidents of major Group companies, periodically reviews the state of initiatives for CSR Materiality (Material Issues) . Third-party assurance will be obtained from an independent external verification authority for core CSR themes and information will be disclosed in the Sustainability Report.

Value Chain and CSR Issues

CSR Materiality (Material Issues), CSR issues subject to disclosure *CSR issues are underlined.

Toward a safe, secure and sustainable future

CSR Core Theme Principal Stakeholders in the Value Chain
Shareholders and Investors Employees (Group activities) Insurance Agents and Business Partners Customers Local Communities and Societies, Research Institutes

Core Theme 1 Providing Safety and Security

Providing safety and security to customers, local communities and society worldwide through the insurance business

●Providing sustainable products and services beneficial for safety and security ●Providing products and services beneficial for safety and security ●Providing products and services beneficial for safety and security Products and services beneficial for disasters, safety and security, and an aging society Climate change and natural disasters research
Local community and social contribution activities that realize security and safety
●Raising brand strength by promoting ESG in the provision of products and services ●Responding to customer needs and changes in risk resulting from various technological innovation Promoting ESG in the provision of products and services in collaboration with business partners ●Insurance that responds to low birth rates and aging societies, and changing population demographics Promoting ESG in the provision of products and services to respond to poverty
○Promote understanding of products and services through consumer education ○Promote understanding of products and services through consumer education Promote health in local communities through sports promotion

Core Theme 2
Protecting the Earth

Contributing to a sustainable global environment

●Insurance products for responding to climate change and natural disasters Protection of the global environment through the provision of environment-friendly products Protection of the global environment through the provision of environment-friendly products Protection of the global environment through the provision of environment-friendly products Local community and social contribution activities realizing protection of the global environment
Protection of the global environment through the provision of environment-friendly products ●Improve business efficiency through information systems that utilize technological innovation Promoting ESG in the provision of products and services by promoting business partner environmental protection ●Insurance products that respond to climate change and natural disasters ●Social contribution activities that deter climate change and natural disasters
Reduction of environmental footprint and achieve carbon neutral status Reduction of environmental footprint and achieve carbon neutral status Consumer education through the promotion of Web clauses

Core Theme 3
Supporting People

Developing employees and partners who support and bring a virtuous cycle to local communities and society

●Promotion of the Group’s diversity and inclusion ●Promotion of the Group’s diversity and inclusion Promoting ESG in the provision of products and services by maintaining good working conditions at business partners ●Provide customer support that responds to technological innovation such as web-based sales Local community and social contribution activities that support youth, the elderly, persons with disabilities and athletes
Local community and social contribution activities that address low birth rates and aging societies, and population demographics Human resources development that aims for realizing a company that develops the top “people” in Japan
Human resources development that responds to technological innovation Human resources development that responds to technological innovation Consumer education through an insurance guidebook ●Develop youth to respond to low birth rates and aging societies, and population demographics
Labour practices that promote the health of employees ○Fair labour practices that emphasize dialogue aimed at promoting the health of employees Promote health in local communities by encouraging health examinations
Governance-Strengthening CSR Management
Continuously enhancing shareholder value
●Enterprise Risk Management (ERM)
●Corporate governance/Internal control
●Strengthening of international supervisory regulations
●Changes in the global economy and financial environment
●Generate and distribute economic value
○Anti-corruption
○Evaluation of human rights and anti-discrimination
○Grievance resolution

Tokio Marine Group CSR Materiality (Material Issues) Matrix

CSR Issues and Responses to a Changing Business Environment Surrounding the Group

We expect the insurance business environment to change significantly over the medium to long term due to a number of factors including the unprecedented pace of technological development, more frequent natural catastrophes, demographic shifts in the Japanese market and an increase in global oversight and regulation.

By proactively grasping these changes in the environment, we plan to refine our business strategy and advance our business platform that supports the creation of corporate value. Furthermore, by offering solutions to issues faced by stakeholders arising from changes in the business environment, we will provide safety and security to our stakeholders while striving to raise the competitiveness of the Group.

From such a perspective, we analyzed and prepared responses to CSR issues and changes in the business environment surrounding the Group to deepen discussion of ways to resolve issues faced by stakeholders arising from changes in the business environment from the perspective of CSR matters. With these prepared responses serving as a starting point, we will further sophisticate our CSR activities.

Changes in the business environment surrounding the Group Impact and Countermeasure CSR issues and GRI Standards Categories
Stakeholders Impact and countermeasure details CSR issues GRI Standards
Climate change and increase in natural disasters (Climate change and natural disasters) Governance Impact on the insurance business of issues such as the frequent occurrences of major natural disasters and the creation of communities with strong resilience to disasters Enterprise Risk Management (ERM) GRI 102: General Disclosures, 4. Governance
Generate and distribute economic value GRI 201: Economic Performance
Agents Business Partners Pressure by institutional investors on company climate change strategy planning and the implementation of effective initiatives Climate change and natural disasters GRI 305: Emissions
Reduction of environmental footprint and achieve carbon neutral status GRI 301: Materials, 305: Emissions, 302: Energy, 306: Effluents and Waste, 303: Water, 307: Environmental Compliance
Customers There is a rising need for casualty insurance due to the frequent occurrences of major natural disasters Products and services beneficial for safety and security GRI 102: General Disclosures, 5. Stakeholder Engagement
Local Communities and Societies Climate change, natural disasters and depletion of biodiversity Protection of the global environment GRI 304: Biodiversity
Changing market structure accompanying shifting population demographics in Japan (Low birth rate and aging society, and population demographics) Governance The form of insurance will change due to a rise in one-person households and the aging of society Corporate Governance/Internal Control, Enterprise Risk Management (ERM) GRI 102: General Disclosures, 4. Governance
Employees Acceptance, promotion and utilization of diversity in such areas as gender, age and nationality Diversity and inclusion GRI 405: Diversity and Equal Opportunity
Labour shortage due to the aging of society, secure and develop young workers Labour practices GRI 401: Employment
Implement initiatives for “Health and Productivity Management” GRI 403: Occupational Health and Safety
Customers Changes in consumer values and needs Products and services beneficial for safety and security GRI 102: General Disclosures, 5. Stakeholder Engagement
Local Communities and Societies Increase in nursing care and health needs, increasing unemployment rates for young people, poverty and inequalities in educational opportunities Promote health in local communities GRI 413: Local Communities
Local communities and social contribution activities
Changes in customer needs and risk due to diverse technological innovation (Technological innovation) Governance Impact on business processes, including sales and aftersales service and customer information gathering Corporate governance/Internal control, Enterprise Risk Management (ERM) GRI 102: General Disclosures, 4. Governance
Employees Importance of IT and necessity of information security Human resources development GRI 404: Training and Education
Insurance Agents Business Partners Being able to differentiate product and service quality and maintain the corporate brand Generate and distribute economic value GRI 201: Economic Performance
Promoting ESG in the provision of products and services GRI 102: General Disclosures, 5. Stakeholder Engagement
Customers Importance of information security due to insurance sales through websites Products and services beneficial for safety and security GRI 418: Customer Privacy
Changes in the global economy and financial environment Governance Investment risk due to low interest rates, decrease in investment returns Corporate governance/Internal control, Enterprise Risk Management (ERM) GRI 102: General Disclosures, 4. Governance
Insurance Agents Business Partners Generate and distribute economic value GRI 201: Economic Performance
Customers Competition in providing services is intensifying due to the increasingly unclear behavior of customers and due to deregulation Promoting ESG in the provision of products and services GRI 102: General Disclosures, 5. Stakeholder Engagement