Zurich Insurance Group: Best Sustainable Insurer Switzerland 2016
At a glance, the insurance business seems to consist of the transfer and management of risk. Whilst straightforward when merely considering the underlying essentials, today’s insurance business – marked by fierce competition and fast-moving market dynamics – involves considerations and processes that stretch far beyond the basic premise and touch upon a host of stakeholders.
The insurance industry has been at the forefront of the move towards the acknowledgement of corporate social responsibility (CSR) as a driver of growth and a prerequisite for sustainability; none more so than the Zurich Insurance Group, widely recognised as a pioneer and celebrated for its approach to CSR. Already in 2011, the Swiss insurer decided to place corporate social responsibility at the very centre of its business model and strategy.
Building on the company’s considerable strength and expertise in risk and asset management, the Zurich Insurance Group set about creating a strategic pyramid of mutually reinforcing layers that include safeguarding the interests of all stakeholders, assessing the impact of business opportunities, and leveraging the company’s corporate reach, footprint, and standing to make a difference and drive development, instead of merely reacting to events – foreseen or otherwise.
Zurich Insurance Group shows an exceptional awareness and appreciation of the company’s role in society. By shielding policy holders from risk, the insurer facilitates both the preservation and creation of resilience, stability, and wealth while simultaneously funding a pool of long-term investment capital that helps build stronger and more prosperous societies. Thus, Zurich Insurance Group, founded in 1872 and serving clients in over 170 countries and territories, manages to fully exploit its potential for creating social value. The CFI.co judging panel commends Zurich Insurance Group on its forward-looking corporate attitude and is pleased to offer the company the 2016 Best Sustainable Insurer Switzerland Award.