SulAmérica

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    Stakeholders and Materiality

    Stakeholders and Materiality

    [SULA 171/GRI 102-46, SULA 172 and SULA 173/GRI 103-1]

    The first mapping of the Company’s strategic stakeholders was in 2009 and it has been revised when necessary. In 2012, during the revision procedure of the sustainability strategy, the Company conducted an internal discussion process with its senior leadership, followed by the definition of priority aspects for SulAmérica with representatives of the main external stakeholders – brokers, customers, regulation bodies, investors, shareholders, and service providers. In this manner, the company has been able to obtain more qualitative and important information for its sustainability strategy, and publicly instituted its five strategic sustainability themes, all of them considered relevant within their limits of action and with impacts inside and outside the organization, as presented in the materiality matrix that follows. Since then, there have not been any significant changes in this Matrix, and it is validated every year by the executive officers.

    Materiality Matrix

     [SULA 12/GRI 102-47, SULA 13/GRI 102-42 e 102-43, SULA 14/GRI 102-44]

    Stakeholder Engagement

    [SULA 13/GRI 102-40, 102-42 e 102-43, SULA 14/GRI 102-44]

    In 2014, the Company conducted a diagnostic study of its stakeholder engagement practices. Using the AA 1000 Stakeholder Engagement Standard (SES) of Accountability, SulAmérica identified its main target audiences, the company’s forms of interaction with these audiences, their risks and opportunities. In this process, the Company approved its Stakeholders Engagement Policy,  where it presents the approach the organization adopts to engage its audiences and the limits of these interactions. In addition, it prioritized the stakeholders with whom it develops actions focusing on engagement: brokers, associates, service providers, and customers. In 2019, there were no changes in this stakeholder map and we made official some actions that we describe next.

    [SULA 13/GRI 102-40]

    SulAmérica’s Stakeholders Map

    Stakeholder Engagement Initiatives

    Today the company uses existing processes and relationship channels to understand the expectations and demands of its stakeholders and, whenever feasible and possible, it incorporates action plans in its planning and management cycle.

    Broker Reward Program (PRA Corretor)

    SulAmérica’s Broker Reward Program, also known as PRA Corretor in Portuguese, is based on the five pillars of the program: Service, Support to the Strategy, Infrastructure, Support, and Incentive. SulAmérica also offers incentive programs per product, through which brokers may, depending on their performance and portfolio management, run for additional commissions. The objective is to support the approach of brokers, making them capable of working with several products ans solutions, for different times of the lives of our customers.

    New Generation Broker

    Thinking about the future, SulAmérica created the program New Generation Broker, a succession program geared towards training the children of brokers, which carried out every semester, with the objective of awakening their interest in a broad vision of the insurance market, encouraging knowledge sharing between participants and the professionals of the insurance company. In addition to providing an opportunity to have a close look at how an insurance company works, the program contributes to strengthen the already existing business partnership with brokers, which then starts to exist with their children, nurturing a long-term relationship, a typical feature of SulAmérica’s relationship with its insurance brokers. In lectures about Products, Sales Techniques, Leadership and Succession, Sustainability, and also group dynamics and guided activities, the new generation of brokers presents suggestions and criticisms that may help improve the Company’s products, services and processes.

    Associate Engagement Survey

    SulAmérica’s strategic positioning has organizational culture as one of its pillars. This pillar contemplates a set of human capital development projects and actions that support the Company to ensure business sustainability. The consistency of these actions is reflected in the annual engagement survey, which in 2019 reached a favorability rate of 80% with 92% of employee participation.

    SulAmérica Active Health Program

    SulAmérica Active Health Program is a set of ongoing initiatives focusing on integrated health management, with actions including from healthy members to the most complex cases.

    With actions to promote health, well-being, and prevention of diseases and their consequences, it helps companies to look after their most precious asset: people.

    Initiatives are implemented according to the needs of members and maturity of the company in the management of health and well-being. All of this is aligned with the expertise of Health Active, a reference in the development and implementation of sustainable health strategies.

    Suppliers

    The Company encourages its suppliers to adopt an environmentally and socially responsible management model. For this reason, during the procurement and contracting processes, all potential suppliers are submitted to an assessment which includes sustainability criteria. In the case of suppliers scoring below expectations, the Company guides them on the need for evolution and encourages the adoption of initiatives in line with best practices on these themes.

    Last update: July 28, 2020

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