Materiality Study

Materiality Study

The materiality study was initiated in 2014. It has been updated and controlled in 2016. Through external sources: Global Reporting Initiative (GRI) and Integrated Reporting Council - IIRC guidelines.

To implement that, the following phases have been followed:

PHASE 1: In-house analysis of the issues identified 

Specific issues have been determined for each stakeholder group, and transversal issues, among which the most prominent ones are transparency, human rights, innovation, information security or the environment.

These issues have been subjected to analysis and evaluation by the main areas with which we collaborated – Relationship with Investors, Innovation, Human Resources, Providers, Environment, Clients, Corporate Governance, Regulatory Compliance, Social Responsibility and Accounting Coordination, both at a corporate level and in the five countries that participated (Brazil, Colombia, Spain, Mexico and Puerto Rico).

The evaluation process includes the “maturity” variable, which makes it possible to analyze the relationship of the relevant topics to the guidelines and strategic plans of each area.

PHASE 2: Stakeholder consultation

The study incorporates two variables in the consultation: the importance of the issue for the stakeholder and the stakeholder’s perception of how MAPFRE is tackling the issue. Employees, clients, providers and distributor, analysts and investors participated. 

The external consultation process was carried out by CBI Consulting, by means of an online questionnaire; their participation guarantees anonymity and the confidentiality of the answers, for another year.

Following, the material issues according to the stakeholders who participated:

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MAPFRE and its employees EMPLOYEES’ PERCEPTION: Scale from 1 to 5 (where 1 is the lowest score and 5 is the highest)
1. To reject discrimination, consolidating a culture of respect based on equality and the diversity of people. 4,23
2. To manage the waste and rubbish generated efficiently. 4,26
3. To manage energy consumption to reduce emissions into the environment. 4,09
4. To maintain a safe and healthy working environment that allows all employees to carry out their work in the best conditions. 4,04
5. To promote opportunities for employees’ development, identifying and managing their talent. 3,44
6. To guarantee the privacy of the personal data held by the company. 4,49
7. To have protocols and mechanisms to guarantee respect for human rights and rectify possible damage done. 4,28
8. To allocate financial, human and technological resources for the promotion of a culture of innovation in the company. 3,91

MAPFRE and its Distributors DISTRIBUTORS’ PERCEPTION: Scale from 1 to 5 (where 1 is the lowest score and 5 is the highest)
1. To efficiently manage the waste and rubbish generated. 3,95
2. To manage energy consumption to reduce emissions into the environment. 3,83
3. To offer innovative products and services, in comparison with other insurance companies. 3,71
4. To carry out initiatives and actions aimed at promoting and raising awareness of environmental responsibility. 3,83
5. To guarantee the privacy of the personal data held by the company. 4,26
6. To make an effort to be digitally secure. 4,02
7. To promote corporate social responsibility and perform actions that have a positive impact in the economic, social and environmental fields. 3,96
8. To comply with its ethical principles and values and to have the necessary mechanisms for their application. 3,94

MAPFRE and its Providers PROVIDERS’ PERCEPTION: Scale from 1 to 5 (where 1 is the lowest score and 5 is the highest)
1. To efficiently manage the waste and rubbish generated. 4,23
2. To guarantee the privacy of the personal data held by the company. 4,54
3. To carry out initiatives and actions aimed at promoting and raising awareness of environmental responsibility. 4,15
4. To incorporate flexible and innovative processes in its relationship with providers. 3,94
5. To promote corporate social responsibility and perform actions that have a positive impact in the economic, social and environmental fields. 4,11
6. To comply with its ethical principles and values and to have the necessary mechanisms for their application. 4,29
7. To make an effort to be digitally secure. 4,41

MAPFRE and its Clients CLIENTS’ PERCEPTION: Scale from 1 to 5 (where 1 is the lowest score and 5 is the highest)
1. To efficiently manage the waste and rubbish generated. 4,03
2. To manage energy consumption to reduce emissions into the environment. 3,97
3. To guarantee the privacy of the personal data held by the company. 4,28
4. To offer innovative products and services, in comparison with other insurance companies. 3,86
5. To carry out initiatives and actions aimed at promoting and raising awareness of environmental responsibility. 3,93
6. To have protocols and mechanisms to guarantee respect for human rights and rectify possible damage done. 3,91
7. To make an effort to be digitally secure. 4,10
8. To aim for maximum client satisfaction through the quality of the services offered. 3,86
9. To promote corporate social responsibility and perform actions that have a positive impact in the economic, social and environmental fields. 3,90
10. To comply with tax obligations in accordance with the tax legislation of the countries in which it operates. 4,25
11. To comply with its ethical principles and values and to have the necessary mechanisms for their application. 3,99
12. To develop products and services that generate an environmental benefit. 3,97
13. To use simple language and take care to ensure that the information on contracting products and services is understandable. 3,90

Analysts/investors SHAREHOLDERS/ANALYSTS’ PERCEPTION: Scale from 1 to 5 (where 1 is the lowest score and 5 is the highest
1. To evaluate and manage the environmental risks arising from its business activity. 3,60
2. To have protocols and mechanisms to guarantee respect for human rights and rectify possible damage done. 4,00
3. To have appropriately sized governing bodies, with defined functions and responsibilities. 3,80
4. To transfer full and understandable information on financial and non-financial results and indicators in a format that is easy to analyze. 3,90
5. To promote corporate social responsibility and perform actions that have a positive impact in the economic, social and environmental fields. 3,86
6. To comply with tax obligations in accordance with the tax legislation of the countries in which it operates. 4,40
7. To make an effort to be digitally secure. 4,00
8. To have systems for evaluation of the reputational risks arising from its activity. 4,25

Both the materiality process and the indicators for our relationship with stakeholders have been officially certified by the GRI, as demonstrated by the award of the "Materiality Disclosures Service” label.

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Material transversal issues for MAPFRE and the stakeholders

Material transversal issues for MAPFRE and the stakeholders
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