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Interactive navigation is a tool that goes beyond the standard navigation of the integrated content (available in the report drop-down bar). New approach allowed to navigate in the two additional business dimensions of the PZU Group, i.e .:
  • strategy (insurance, health, investments, finances);
  • sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.

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CSR Strategy [IIRC]

Annual Report 2019 > CSR Strategy [IIRC]
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Best Pratices in PZU

Corporate Social Responsibility (CSR) - “PZU Group is socially responsible – we endeavour to contribute as many positive values to relations with our stakeholders and the surrounding environment. Harmonious activity at all levels of our cooperation is not plausible without incorporating the rights and needs of the surrounding environment. We promulgate openness, we support empathetic values and we encourage people to participate in charitable campaigns. We support the civic attitudes of our employees.”

PZU Group’s Policies [UoR]

Ethics and corporate social responsibility are crucial to the PZU Group. The PZU Group’s value growth should be aligned to the needs of the environment and rely on sustainable resource utilization. The firm strives to manage the many types of capital responsibly: financial, human, environmental and social.

In 2018 the PZU Group’s corporate social responsibility strategy in 2018–2020 was ratified. This document along with “PZU Group’s Best Practices” lays down the ethical principles and business standards that form its organizational culture and the attitudes of employees and agents in the work environment. It serves as the foundation for the overall PZU Group’s common values.

Objectives of the CSR strategy:

  • bringing order to the most important areas and principles of responsibility;
  • defining ambitions, directions of activities and initiatives in reference to business and social challenges.

The PZU Group’s corporate social responsibility focuses on key resources inside the company and in its surroundings. Relations with clients and suppliers are the most important thing for the overall business strategy; that is why they form the point of reference for the initiatives being implemented.

The primary assumption of the CSR strategy involves paraphrasing the PZU Group’s mission: “We care about the future to help our clients”.

Responsible business management in the PZU Group - activities, initiatives

We respond to the needs of our clients

The PZU Group endeavors to be a stable and trustworthy partner for its clients. That is why it plans to have long-term relations with them and attempts to anticipate their needs.

These assumptions are pursued in PZU and PZU Życie under the formula known as the client experience management program. Client opinions and satisfaction level are monitored on an ongoing basis, in particular by running satisfaction studies on service and products and by examining complaints. Client experience maps are prepared to identify which elements of service are in need of repair.

We create an inspiring place of work

The PZU Group is striving to be the best employer on the markets where it renders services. Its objectives are as follows: being in the leadership position among the financial industry companies most frequently selected by people looking for employment, engaged and top of class staff on the market and maintaining a low level of turnover among the organization’s top talents.

To achieve these goals, the PZU Group:

  • offers transparent development paths;
  • facilitates employee development;
  • advances entrepreneurship, innovation and teamwork;
  • instils better quality in organizational culture;
  • tweaks processes related to counteracting employee attrition;
  • develops a program to retain key employees;
  • offers a friendly environment and atmosphere and development opportunities, while at the same time guaranteeing respect for life-work balance.

We manage our environmental impact in a deliberate manner

The PZU Group is devising its own environmental standard to define the key assumptions pertaining to its governance approach to environmental issues. They are embodied by these principles:

  • sustainable development;
  • high level of environmental protection;
  • prudence and prediction of negative impact of our actions, if any;
  • prevention, prevention of pollution and its elimination at its source;
  • inclusion of environmental protection elements into the business policy and strategy;
  • partnership, or the requirement for all PZU Group entities to take joint environmental protection actions.

We cultivate a risk management system and a culture of ethics and compliance

The risks inherent in PZU’s business are covered by the risk management system established on the basis of the following four levels of authority: the Supervisory Board, the Management Board, committees and the level of operational activities broken down into three lines of defense.

A detailed description of the approach to risk management has been provided in CORPORATE GOVERNANCE AND RISK MANAGEMENT, GIVING CONSIDERATION TO ESG FACTORS.

As regards compliance risk, a modern compliance function has been established in the PZU Group based on best market standards and internally developed compliance solutions and tools. 

A detailed description of the approach to risk management has been provided in ETHICAL FOUNDATIONS OF BUSINESS OPERATIONS.

We are a leader in social activities focusing on security

Insurance companies are responsible for the risks of other persons. That is why social engagement among insurers takes on special meaning. For many years the PZU Group has taken specific and measurable efforts to attenuate risk at source by using the prevention fund.

On top of sponsoring activity or the charitable activity of the PZU Foundation, the PZU Group gets involved in social investments to reduce risk and simultaneously produce business and social benefits. These initiatives’ major objective is to prevent accidents, reduce their repercussions and support those types of activities that advance health prevention.

The strategic pillars underpinning PZU’s social involvement are as follows: safety (road and public safety, at the local level), health, culture and expert approach with respect to which the key measures were described in detail in PZU GROUP’S SOCIAL COMMITMENT.

We are devising new standards in relations with suppliers

PZU has an awareness of its material impact on the procurement market and its responsibility for shaping the top business standards.The PZU Group companies advance the idea of corporate social responsibility in relations with their suppliers, cooperating only with business partners who observe human rights and act in compliance with legal regulations, in particular with regard to the prevention of corruption. They also expect their partners to provide safe and dignified work conditions, apply the highest ethical standards and care for the natural environment.

Governance – we are building our CSR position in the industry

The actions taken in this area concentrate on formulating the CSR policy within the PZU Group, defining objectives and strategic metrics and tending to the active implementation of planned efforts.

Governance initiatives call for coordinating ventures and duties discharged by all the PZU Group companies. Every year the “PZU Group’s non-financial report” is drafted. Its membership from 2012 to the end of 2019 in the Respect Index, a stock index consisting of companies espousing corporate social responsibility, which at the beginning of 2020 was replaced by a new index called WIG-ESG, also makes it possible to render an accurate and objective evaluation of the Group’s CSR activities.

The Group’s ambition is to ensure efficient and comprehensible internal communication regarding CSR-related values, objectives and practices. This should provide for appreciation of the planned activities and support from persons and units guaranteed in the execution of the CSR strategy.

Status of the execution of the strategic assumptions [IIRC]

We respond to the needs of our clients

“New PZU” 2020 ambition

– NPS (satisfaction) indicator for retail clients in insurance
   > higher than the competition

– indicator concerning the timeliness of examining complaints
   95% up to 28 days

Clients were once again inclined to recommend PZU to a greater extent in 2019 in comparison to the competition. Its NPS (Net Promoter Score) was 10 p.p. higher than the competition’s. This score is to a large extent the outcome client satisfaction studies enabling us to identify the organization’s strengths and areas in need of modification and improvement.

We create an inspiring place of work

“New PZU” 2020 ambition

– employee engagement rate

– percentage of women in management positions
   min. 50%

The employee engagement index rose 11 p.p. in 2019 y/y to 51%. The participation ratio was 84% (73% in 2018).

We manage our environmental impact with a sense of awareness

“New PZU” 2020 ambition

– implementation of the “Green PZU” standard by 2020
   complete implementation

The PZU Group’s “Green PZU” Standard, along with the action plan document for the administration and real property area is aimed at ensuring informed management of the natural environment and mitigation of negative impact on the environment.

We are a leader in social activities focusing on security

 “New PZU” 2020 ambition

– financial commitment to social activity
   > at the level of over PLN 50 million annualy

Financial commitment to social activity in 2019: 84 million (PZU, PZU Zycie, TUW PZU).

We are devising new standards in relations with suppliers

 “New PZU” 2020 ambition

– percentage of suppliers adhering to the “Code of CSR Best Practices for PZU’s Suppliers
   90% of PZU’s suppliers* covered by the tender process accept and comply
   with the “Code of CSR best practices for the PZU Group’s suppliers”

* Suppliers of goods or services invited to participate in tenders organized by the Procurement Department at PZU and PZU Życie

In 2019 the work was underway to implement a new procurement platform that, according to the assumptions underpinning the CSR strategy, incorporates the necessity of affirming the obligation to abide by the “Code of CSR Best Practices”.

The PZU Group is undergoing a process of updating its business strategy,
including in the context of environmental, social and corporate governance (ESG) factors