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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.
Employees
Society
Ethics
Environment
Products
Overview
Health
Banking
Investments
Insurance
Business
practices
Non-financial data
Strategic data

In the Chapter

PZU Group Overview
PZU Group’s financial effectiveness
Business model [UoR] [IIRC]
PZU Group’s value creation model
Structure of the PZU Group
Non-life insurance (PZU, LINK4 and TUW PZUW)
Life insurance (PZU Życie)
Banking (Bank Pekao, Alior Bank)
Mutual funds and Employee Capital Schemes (TFI PZU)
International operations
Medical services (Health)
Pension funds (PTE PZU)
Other operating areas

GRIs

102-7 Scale of the reporting organization
201-1 Direct economic value generated and distributed

In the Chapter

Employee issues
Human Capital Management
Working conditions
Employee development
Knowledge sharing

GRIs

102-8 Data pertaining to employees and other persons working for the organization
103-2 Approach to management and its elements
401-1 New employee hires and employee turnover
403-2 403-2 Rate for injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities
404-1 Average number of hours of training per year per employee
404-2 Managerial skill development and continuing education programs supporting continuity of employment of employees and facilitating the retirement process
404-3 Percentage of employees subject to regular assessments of work quality and professional development reviews, by gender and employment category
G4-FS16 Initiatives to enhance financial literacy by type of beneficiary

In the Chapter

PZU Group’s social commitment
Safety
Health
Cultural patronage
Improvement of living conditions in local communities

GRIs

102-12 Externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses
103-2 Approach to management and its elements

In the Chapter

Business in the face of climate change
Direct environmental impact

GRIs

103-2 Approach to management and its elements
301-1 Raw materials/materials used by weight and volume
302-1 Energy consumption by the organization, taking into account the types of raw materials
302-4 Reduction of consumption of energy
303-1 Total water consumption by source
305-1 Total direct GHG emissions (Scope 1)
305-2 Electricity indirect GHG emissions (Scope 2)
305-3 Other indirect GHG emissions (Scope 3)
305-4 GHG emissions intensity
307-1 Cash value of penalties and total number of non-financial sanctions for non-compliance with the law and/or regulations on environmental protection

In the Chapter

Ethical foundations of business operations
Corporate governance and risk management, giving consideration to ESG and climate factors
Preventing corruption and conflict of interests
Diversity and respecting human rights
Whistleblowing system
Transaction security
Cooperation with supplier

GRIs

102-5 Organization’s form of ownership and legal form
102-9 Description of the supply chain
102-11 Explanation of whether and how the precautionary principle is addressed by the organization
102-12 Externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses
102-15 Description of key impacts, opportunities and risks
102-16 Organization’s values, code of ethics, principles and norms of behavior
102-17 Internal and external mechanisms making it possible to obtain advice regarding the behaviors in ethical and legal issues and issues associated with the organization’s integrity
102-18 Organization’s supervisory structure along with the commissions that report to the highest supervisory body
103-2 Approach to management and its elements
103-3 Evaluation of the approach to management
205-1 Actions assessed in terms of threats associated with corruption
205-2 Communication and training on anti-corruption policies and procedures in the organization
205-3 Confirmed cases of corruption and actions taken
206-1 Legal steps taken against the organization for cases of violating the principles of free competition and monopolistic practices
405-1 Composition of supervisory bodies and employees broken down into employee groups by gender, age and other diversity factors
406-1 Total number of discrimination cases and corrective measures taken in this regard
419-1 Non-compliance with the law and socio- economic regulations

In the Chapter

PZU Group’s new operating model
Insurance
Health
Banking and strategic partnerships
Management of the PZU Group’s brands
Client at the center of attention
Innovations
Responsible sales
Cybersecurity

GRIs

103-2 Approach to management and its elements
G4-FS13 Access points to sparsely populated areas that are less economically developed
G4-FS14 Initiatives undertaken to improve access to financial services for disfavored persons
G4-FS15 Policies for the fair design and sale of financial products and services
417-1 Internal requirements concerning the labeling of products and services and information regarding them
417-2 Incidents of non-compliance with regulations and voluntary codes concerning the labeling of products and services and information regarding them
417-3 Incidents of non-compliance with regulations and voluntary codes concerning marketing communications
418-1 Substantiated complaints regarding breaches of client privacy and data loss

In the Chapter

Operating model
PZU Group’s financial effectiveness
Digitization – the future of insurance undertakings
Client at the center of attention
Innovations
Responsible sales
Cybersecurity
Climate
Business in the face of climate change
Direct environmental impact
Employee
Working conditions
Employee development
Knowledge sharing
Risk and ethics
Safety
Corporate governance and risk management, giving consideration to ESG and climate factors
Preventing corruption and conflict of interests
Diversity and respecting human rights
Whistleblowing system
Transaction security
Cooperation with suppliers
Dialogue with the environment
Risk appetite
PZU Group’s risk profile
Reinsurance operations
Business
Polish and Baltic States insurance sector compared to Europe
Non-life insurance (PZU, LINK4 and TUW PZUW)
Life insurance (PZU Życie)
International operations
Insurance
Contribution made by the market segments to the consolidated result

In the Chapter

Operating model
Client at the center of attention
Responsible sales
Climate
Direct environmental impact
Employee
Working conditions
Employee development
CSR
PZU Group’s social commitment
Risk and ethics
Ethical foundations of business operations
Corporate governance and risk management, giving consideration to ESG and climate factors
Diversity and respecting human rights
Whistleblowing system
Transaction security
Market
Polish banking sector compared to Europe
Banking (Bank Pekao, Alior Bank)
Banking and strategic partnerships
Risk appetite
PZU Group’s risk profile
Business
Contribution made by the market segments to the consolidated result
Banking sector on the Warsaw Stock Exchange

In the Chapter

Operating model
Client at the center of attention
Climate
Business in the face of climate change
Employee
Working conditions
Risk and ethics
Ethical foundations of business operations
Diversity and respecting human rights
Business
Situation on the financial markets
Banking (Bank Pekao, Alior Bank)
Mutual funds and Employee Capital Schemes (TFI PZU)
Contribution made by the market segments to the consolidated result

In the Chapter

Operating model
Client at the center of attention
Health
Employee
Working conditions
Employee development
Risk and ethics
Diversity and respecting human rights
Whistleblowing system
Business
Medical services (Health)

In the Chapter

Operating model
Client at the center of attention
Innovations
Responsible sales
Cybersecurity
Climate
Business in the face of climate change
Direct environmental impact
Employee
Working conditions
Employee development
Knowledge sharing
CSR
PZU Group’s social commitment
Safety
Health
Improvement of living conditions in local communities
Risk and ethics
Ethical foundations of business operations
Corporate governance and risk management, giving consideration to ESG and climate factors
Preventing corruption and conflict of interests
Diversity and respecting human rights
Transaction security
Cooperation with supplier
Dialogue with the environment
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Dialogue with the environment

Annual Report 2019 > Dialogue with the environment
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Open communication - “we convey precise and necessary information to all the parties with whom we collaborate. We do our utmost to ensure that the reports and documents we transmit to control or supervision authorities or we publish are complete and understandable.”

“The voice of stakeholders is important to us. We not only want to satisfy the expectations of our clients or employees but want to be frank with the business environment in the conduct of our operations. We believe that relations based on honesty and transparency are key to success. Therefore we are engaged in the dialogue with the environment, carry out regular questionnaires and dialogue sessions, and publish all key information that may contribute to better execution of our mission.”

Aleksandra Jakima-Moskwa, Investor Communication Coordinator

The material role played by stakeholders and their measurable impact on shaping the PZU Group’s operations mean that every company in it regularly updates its partner map, and drafts key forms of dialogue with the various groups. They are selected on the basis of the importance of relations and the extent of the links to the PZU Group.

The stakeholder map has been presented below with the stakeholders having been chosen on the basis of the extent of their involvement in the Group’s operations and their materiality from the viewpoint of the business model. This map does not cover the activities of the Pekao Group or Alior Bank where different approaches to external relations are in place.

Stakeholder group Approach taken to the involvement
of a given stakeholder group		 Level of involvement
of a given group		 Key issues and problems
touched upon by stakeholders
Employees
  • annual/quarterly discussions;
  • internal meetings;
  • internal portal/intranet;
  • newsletter;
  • boxes to explicate things that are not clear;
  • trade unions;
  • internal publications;
  • information campaigns expanding knowledge about the organization;
  • engagement and employee satisfaction surveys;
  • broadcast meetings with Management Board members;
  • video materials shown in the companies.
 high
  • listening to opinions of employees;
  • providing growth opportunities to employees;
  • creating a satisfactory workplace;
  • building understanding for strategy implementation and achieved results;
  • activating employee to participate in new initiatives.
Clients
  • website;
  • client needs survey;
  • satisfaction and opinion surveys;
  • financial and insurance education programs;
  • Client Spokesman.
 high
  • collecting client expectations and opinions;
  • incorporating client opinions when designing business solutions;
  • creating products and services that match client needs;
  • create transparent terms and conditions in offers and contracts.
Suppliers
  • meetings with new and current
    suppliers;
  • CSR poll.
 high
  • supporting the execution of the Group’s strategy and access to innovation;
  • shaping business standards in our surroundings and promoting best procurement practices.
Investors and shareholders
  • regular meetings during conferences, discussion panels (group meetings in the company and individual ones); 
  • quarterly financial reports, tables with data and results presentations; 
  • constant cooperation between the Investor Relations Department and stakeholders (institutional and retail investors, analysts and capital market organizations); 
  • meetings and conference calls with the Management Board; 
  • the company’s website; 
  • internet information channels.
 high
  • ensuring information transparency; 
  • creation of value; 
  • distribution of profits to shareholders.
Business partners:
agents and brokers
  • annual, monthly and ongoing meetings with agents; 
  • satisfaction and opinion surveys; 
  • internal communication portal for agents; 
  • sales training and support programs; 
  • Elite Agent Club and Elite Advisory Group.
 high
  • presentation of strategic plans; 
  • addressing ongoing cooperation issues to ensure mutual benefits.
Media
  • press releases; 
  • press conferences; 
  • expert interviews; 
  • industrial interviews; 
  • social services.
 medium
  • transparency in operation; 
  • building insurance awareness; 
  • enhancing the level of knowledge concerning financial products.
Local communities
  • ongoing direct communication; 
  • supporting local initiatives through the program www.pomoctomoc.pl.
 medium
  • execution of sponsorship and prevention projects; 
  • supporting the development of communities; 
  • being a responsible citizen; 
  • encouraging employees to take part in social campaigns.
Central administration
  • cooperation in debates and conferences; 
  • answering inquiries and incorporation of recommendations; 
  • legislative cooperation with the Polish Insurance Association.
 medium
  • ensuring compliance with requirements and regulations; 
  • support for the creation of new market principles, including best practices.
Non governmental organization
and public institutions
  • building partnerships and conducting social diagnosis; 
  • joint planning, implementation and evaluation of projects; 
  • involvement in initiatives and projects to promote CSR and corporate foundation standards; 
  • organization of joint conferences, seminars and seminars – activities benefiting the third sector and the academic community; 
  • sharing know-how (training).
 medium
  • implementation of educational and social programs promoting health, safety, social aid, culture and protection of cultural heritage
table.xlsx

BEST PRACTICE

Participation in associations and industry organizations.The PZU Group is engaged in the activity of numerous organizations and associations.
Membership in the organizations listed below is of a strategic nature to PZU. The company pays membership dues to support the activities laid down in the articles of association and takes part in additional projects run by the following:

  • Polish Association of Listed Companies
  • British Polish Chamber of Commerce
  • Polish Insurance Association
  • European Financial Marketing Association (EFMA)
  • International Association of Agricultural Insurers
  • Polish Motor Insurers’ Bureau
  • United Nations Environment Programme Finance Initiative