Stakeholder Engagement | Sustainable Shin Kong | Shin Kong Life Sustainability

Sustainable Shin Kong
Stakeholder Engagement

Sustainable Shin Kong

Shin Kong Life always strives to live up parent company Shin Kong Financial Holding's sustainable development value proposition of "Low Carbon, Innovation, and Mutual benefit." SKL has developed the corporate sustainability vision, strategies, and medium-to long-term targets based on our core competencies, and have also promotes and implemented various sustainability/ESG initiatives to move towards sustainable corporate development.

SKL Sustainable Milestone

Message From the Chairman and President

Corporate Sustainability Committee

Sustainability Strategy and Target

Material Issues Assessment

Stakeholder Engagement

Stakeholder Engagement

Shin Kong Life Insurance (SKL) examined its organizational operations, industry value chain relationships, and industry characteristics, and identified the eight major types of stakeholders after internal discussions. Through diversified communication channels, we collect sustainability issues of concern to stakeholders in a timely manner and respond accordingly. Through the operations of the Corporate Sustainability Committee, SKL also integrated ESG issues that concern stakeholders into annual work items. The implementation of these issues is regularly reviewed and reported to the Board of Directors.

Shareholders / Investors

Robust financial performance and effective investment risk management are topics that shareholders and investors care about.

8

institutional investors' conferences in both Chinese and English with SKFH.

Concerned Issues
  • Business performance
  • Corporate Governance and Ethical Management
  • Sustainable Finance
  • Social participation

Channel of Communication

Frequency of Communication
  • Once/year (General Shareholders' Meeting)
  • Once/quarter (Investor Conference)
  • Permanent (Market Observation Post System)
  • As needed (Extraordinary General Meetings)
  • Permanent (Company website)

Communication Results in 2023
  • Held the annual shareholders' meeting, and set up a shareholders' equity area on the company website to disclose matters such as corporate governance and shareholders' equity.
  • Held 8 institutional investors' conferences in both Chinese and English with SKFH.
  • Set up an information disclosure area on the company website to regularly disclose information on the Company's finances, credit rating, corporate governance, and fulfillment of corporate social responsibility.
  • Posted financial statements, annual reports, and other information on the MOPS.
Employees

Employees are an important asset for the sustainable development of the Company. How to correctly convey SKL's people-oriented approach through employees and actively respond to employees' opinions is the key to long-term business viability.

844

on-site health service sessions

1688

hours

Concerned Issues
  • Business performance
  • Talent recruitment and retention
  • Talent cultivation and development
  • Human rights and decent work
  • Occupational Health and Safety

Channel of Communication
  • E-newsletters (HR e-Newsletter & OHS Quarterly)
  • Labor-management meetings
  • Occupational Safety and Health Committee

Frequency of Communication
  • Permanent(Feedback area on the Intranet)
  • Permanent(Email and hotline for employee communication)
  • Once every two years(Employee engagement survey)
  • 2 times / month(On-site labor health services)
  • Permanent(E-newsletters)
  • Once/quarter(Labor-management meetings)
  • Once/quarter(Occupational Safety and Health Committee)

Communication Results in 2023
  • Added 28 comments to the feedback area on the intranet.
  • Issued 1 OHS Quarterly newsletters and 20 promotions related to pandemic prevention and OHS.
  • Convened 4 Occupational Safety Committee meetings.
  • Held 844 on-site health service sessions totaling 1688 hours.
  • Received 4 employee complaints and 4 labor disputes.
  • Held 4 labor-management meetings.
Customers

Insurance is all about serving people. To ensure business sustainability, SKL timely responds to and meets the diverse policyholders’ needs for products and communication and continuously enhances service.

89.2%

NPS

Concerned Issues
  • Risk and crisis management
  • Sustainable Finance
  • Social participation
  • Corporate Governance and Ethical Management
  • Innovation and digital finance

Channel of Communication
  • Customer service hotline (0800-031-115)
  • SKL app
  • Policyholder quarterly
  • SKL Facebook fan page
  • Insured care project

Frequency of Communication
  • Permanent(Customer service hotline)
  • Permanent(SKL app)
  • 4 times/year(Policyholder quarterly)
  • Permanent(SKL Facebook fan page)
  • As needed(Insured care project)
  • Permanent(Company website)
  • As needed(EDM)
  • Permanent(Service Locations)
  • Regular(Satisfaction survey)
  • Permanent(Complaint/Reporting email)

Communication Results in 2023
  • NPS: 89.2%
  • Answered nearly 470,000 customer service calls, with an 94.3% satisfaction rate.
Key Investees and Borrowers

We pay close attention to investees and ensure the availability of sufficient and effective information on investees to maximize the interests of customers and shareholders.

164

shareholders' meetings attended

100 %

participation rate

Concerned Issues
  • Financial Performance
  • Sustainable Finance

Channel of Communication
  • Institutional investors' conference/shareholders' meeting

Frequency of Communication
  • Once/year(Institutional investor's due diligence report)
  • As needed(Personal visit)
  • Once/year(Institutional investors' conference/shareholders' meeting)

Communication Results in 2023
  • Published the institutional investor's due diligence report.
  • Attended a total of 164 Shareholders' meetings (participation rate of 100%).
  • Voted on 954 proposals.
  • Distributed 169 copies of the engagement and communication questionnaire.
Community and NPO/NGO

Having long adhered to the business philosophy of giving back to society, SKL strives to invest resources in the communities to promote social welfare.

72.84

million NTD investment in social participation

76000

benefiting

Concerned Issues
  • Sustainable Finance
  • Corporate Governance and Ethical Management
  • Risk and crisis management
  • Impact on the environment of company operations

Channel of Communication
  • Lecture
  • Charitable Activities
  • Foundation
  • Art and cultural activity
  • Emergency Assistance
  • Website

Frequency of Communication
  • As needed(Lecture)
  • As needed(Charitable Activities)
  • Permanent(Foundation)
  • As needed(Art and cultural activity)
  • As needed(Emergency Assistance)
  • Permanent(Website)

Communication Results in 2023
  • Organize 1,556 activities to help stakeholders understand the SDGs and sustainable development policies.
  • Continued to sponsor and participate in local arts and cultural events such as the Yanshui Bee Cannon and the Dajia Mazu Parade.
  • Worked with foundations and NPOs/NGOs to advocate environmental issues and promote the silver-haired elderly Programs.
  • The total investment in social participation was $72.84 million, benefiting about 760,000.
Government and Competent Authority

As banking and insurance are highly regulated by competent authorities, SKL maintains sound and steady operations in strict compliance with the laws and regulations.

20 %

in the Corporate Governance Review

Concerned Issues
  • Sustainable Finance
  • Risk and crisis management
  • Innovation and digital finance
  • Financial inclusion
  • Legal Compliance
  • Information Security
  • Customer relations and services
  • Actions for climate change

Channel of Communication
  • Official letter
  • Court activity
  • Meeting organized by the competent authority
  • Seminars

Frequency of Communication
  • As needed(Official letter)
  • As needed(Court activity)
  • As needed(Meeting organized by the competent authority)
  • As needed(Seminars)

Communication Results in 2023
  • Top 20% in the Corporate Governance Review.
  • Attended policy discussions and seminars organized by competent authorities to provide industry opinions.
Suppliers

We partner with suppliers to meet the stakeholders’ needs in course of achieving sustainable development.

100 %

of the bargaining and contracted vendors sign the supplier commitments.

Concerned Issues
  • Supplier sustainability management
  • Legal Compliance
  • Information Security
  • Occupational health and safety

Channel of Communication
  • Suppliers' commitment statement
  • Contract negotiation
  • Complaint hotline
  • Price negotiation meeting
  • Supplier conference

Frequency of Communication
  • As needed(Suppliers' commitment statement)
  • As needed(Contract negotiation)
  • As needed(Complaint hotline)
  • As needed(Price negotiation meeting)
  • As needed(Supplier Conference)

Communication Results in 2023
  • Signed 100% of supplier commitments for both the bargaining and contracted vendors.
  • Completion of supplier ownership risk assessment, which includes labor relations, privacy protection, workplace safety and health, and other sustainability issues. The assessment includes issues such as labor relations, privacy protection, workplace safety and health, and other sustainability issues.
Media / Evaluation institution

The media/evaluation institutions play a vital role in carrying messages for SKL. To ensure unimpeded communication with stakeholders, it is important tomaintain good interaction with the media/evaluation institutions.

875

press releases(positive media exposure)

Concerned Issues
  • Legal Compliance
  • Actions for climate change
  • Sustainable Finance
  • Information Security
  • Corporate Governance and Ethical Management
  • Impact on the environment of company operations
  • Financial inclusion
  • Talent cultivation and development

Channel of Communication
  • Evaluation survey
  • Press release
  • Interview
  • Seminar/Workshop
  • Press conference

Frequency of Communication
  • As needed(Evaluation survey)
  • As needed(Press release)
  • As needed(Press conference)
  • As needed(Seminar/Workshop)
  • As needed(Interview)

Communication Results in 2023
  • Participated in the National Brand Monte Jade Award, Vision ESG Corporate Sustainability Award, and Insurance Prestige Love Award.
  • 875 press releases (positive media exposure).
  • Arranged and assisted in 51 media interviews.