At MAPFRE, we are aware of the importance of meeting all our stakeholders’ expectations. To this end, we identified eight stakeholders with whom we have made a number of specific commitments and with whom we interact through numerous relationship channels.
- Clients and insured parties
- Regulatory and supervisory bodies
- Shareholders, investors and partners
- Distributors, intermediaries and collaborators
As part of our sustainability policy, we have made the following commitments which we believe to be essential to performing our work in a responsible manner, consistent with our purposes.
- Consolidate a culture of respect for people and behavior that is favorable and open to diversity when working with any of the company’s stakeholders.
- Guarantee all workers the right to truly equal opportunities and treatment, allowing them to develop personally and professionally with no exceptions.
- Prevent any type of workplace discrimination in terms of access to employment, promotions, professional classification, training, remuneration, work-life balance and other working conditions.
- Contribute to maintaining workplaces that are free of harassment and behavior that is violent or offensive to people’s rights and dignity, and guarantee that, if this occurs, there are appropriate procedures in place to deal with and solve the problem.
- Achieve an optimal level of workplace safety and a work environment that allows MAPFRE professionals to carry out their work in the best physical conditions, which are also optimal for mental health and well-being.
- Promote the establishment of pay conditions that guarantee an appropriate salary, acknowledging the efforts and contributions employees make to company results.
- Offer employees the opportunity to channel and develop their charitable sides through Corporate Volunteering, in line with MAPFRE’s General Volunteering Program.
To clients and insured parties
- Provide honest advice and comprehensive information regarding the characteristics and qualities of MAPFRE products and services before policy contracting.
- Provide an accessible and quality service within the agreed period, monitoring clients’ experience through surveys that measure their satisfaction and by other means and systems that allow for active and permanent listening to the client in all processes and operations in which the client deals with the company.
- Maintain due confidentiality in the processing of client data.
- Manage and resolve complaints in the shortest time possible.
- Maintain adequate and efficient communication channels using the most suitable means.
- Constantly innovate to provide services and products with added value, facilitating and promoting access to insurance to as many groups as possible.
- Respect and comply with the rules governing communications and marketing activities, and adopt voluntary codes that bring transparency and truth to these initiatives.
- Adopt responsible practices that generate mutual value, in addition to focusing on efficiency and the quality of products and/or services supplied by MAPFRE providers.
- Ensure that the value chain complies with MAPFRE’s values and principles, with the Code of Ethics and Behavior and with the principles established in this policy.
- For this reason, we have a provider approval procedure, through which key aspects for the company are evaluated from an environmental, social and governance (ESG) standpoint.
- The ESG approval process is developed through an initial evaluation of providers’ sustainability practices, which is done using a specific questionnaire that includes the following factors:
- Occupational safety and workers’ health.
- Human Rights: child and forced labor, basic human rights.
- Environmental practices and sanctions.
- Inclusion, diversity and non-discrimination.
- Once approved, the provider receives the following documentation: the MAPFRE Code of Ethics and Code of Conduct, and an invitation to carry out the online Human Rights course prepared by the Spanish Network of the United Nations Global Compact.
- Guaranteeing compliance within the Group with both the Corporate Procurement Regulations and the General Guidelines of the Service Providers Management Model and Policies.
To distributors, intermediaries and collaborators
- Maintain permanent dialog using the specific platforms and sales structures created for this purpose.
- Ensure selection and remuneration processes that value professional responsibilities and competences, along with other aspects that ensure the quality of the service provided.
- Implement a training model adapted to the needs of each distributor, paying special attention to training which focuses on compliance with MAPFRE values and strategy and the CSR Policy.
To shareholders, investors and partners
- Promote the informed participation of shareholders at annual general meetings, treating them all in a similar manner.
- Address the impact that our activity has on society, assessing and managing the non-financial, ethical, governance, reputational, social and environmental risks, as well as those related to human rights.
- Commit to social initiatives or activities that benefit society. We believe that the following areas of social activity are a priority: disability, accident prevention, road safety, the promotion of insurance culture, health promotion, the environment and corporate volunteering.
Work closely with Fundación MAPFRE, which performs its activities in accordance with the terms established by its Board of Trustees and its corporate bylaws.
- Consider how, through the sponsorship we promote in accordance with the Corporate Sponsorship Manual, we contribute to organizing activities that are beneficial to society as a whole.
With regulatory bodies and supervisors
3MAPFRE carries out its business activities with full respect for current regulations. The company’s relationships with regulatory bodies, authorities and public administrations are governed by the principles of legality, trust, professionalism and good faith, in all the countries in which it operates, always remaining neutral with respect to the different political options.
- To do this, it promotes the constant strict observance of the Institutional, Business and Organizational Principles, the Code of Ethics and Conduct and the Anti-Corruption Policy and other internal regulations.
- MAPFRE collaborates and participates in think tanks, organizations and business and industry associations, which help it to shape a more comprehensive and global vision of the environment in which the insurance industry operates, the impact it has, and the inherent risks and opportunities involved, while allowing it to learn about the increasingly complex and interconnected economic and social reality we as a society find ourselves in.
- This collaboration with the institutional environment allows MAPFRE to share its vision and establish a legitimate, constructive and transparent dialog on matters related to regulation, insurance activity, sustainability and the challenges associated with the global context and digital transformation, thereby building strong relationships with its stakeholders in general, and with regulatory authorities and bodies in particular. These relations are also governed by the principle of transparency and by the codes and practices of good institutional governance.
- As a member and trustee of the main national and international institutions in the insurance and financial field, in 2020, the Group contributed 3.09 million euros to sharing its vision in these organizations, among which the following are notable (based on contribution amount) :
- European CFO Forum (contribution: 122,000 euros)
- The Geneva Association (92,601 euros)
- Institute of International Finance –IIF (35,944 euros).
- Likewise, through its participation in different national and international industry bodies, MAPFRE estimates that it allocates the amounts indicated here to maintaining dialog on the following subjects of influence in the international arena: financial and prudential regulation (639,522 euros), digital regulation and cyber threats (426,348 euros) and the impact of the pandemic and measures related to said impact (319,761 euros).
Further information on the institutions MAPFRE is a member of can be found in the company’s Integrated Report.