Materiality

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Materiality

Focusing on What Truly Matters

Supporting the dreams of every Indian begins with understanding what holds real significance for our stakeholders and our business. Our materiality assessment process helps prioritise the most relevant economic, environmental, social and governance (EESG) topics, ensuring our actions remain aligned with stakeholder expectations and long-term value creation. These material topics guide how we operate, where we invest and how we deliver impact.

Capitals

Financial Capital

Intellectual Capital

Social and Relationship Capital

Service Capital

Human Capital

Natural Capital

Strategic Objectives

SO1-Robust distribution model with unparalleled reach
SO2-Sustainable growth with value creation
SO3-Customer engagement with enhanced experience
SO4-Building a skilled and dynamic team
SO5-Expanding digital footprints for seamless journey

Stakeholders

Customers

Employees

Business Partner

Shareholders

Regulators

Suppliers

Communities

Our top material topics

M1

Customer service and satisfaction

Risk/Opportunity

Opportunity

Why is it material?

Customer centricity is at the heart of our business. By consistently improving service delivery and incorporating customer feedback, we aim to enhance experience and foster long-term relationships.

How we capitalise on these matters

Our operations are centred around customer satisfaction. We are committed to offering outstanding customer service and constantly enhancing our approach based on their insightful feedback. By attentively responding to their needs, we strive to deliver the best experience and foster enduring relationships with our valued customers.

UNSDGs

Capitals impacted

Strategic objectives

SO1, SO2, SO3, SO4, SO5

Stakeholders impacted

M2

Governance, transparency and ethical business practices

Risk/Opportunity

Risk

Why is it material?

Upholding strong governance and ethical standards is essential for maintaining stakeholder trust, regulatory compliance and long-term reputation. Any lapse can lead to legal, financial or reputational consequences.

How we mitigate these matters

Aligning with globally accepted governance and sustainability frameworks
Complying with regulatory guidelines issued by SEBI, IRDAI, PFRDA and the Companies Act
Implementing a robust Code of Conduct for both employees and suppliers
Maintaining transparent and consistent communication channels with stakeholders

UNSDGs

Capitals impacted

Strategic objectives

SO1, SO2, SO3, SO4,

Stakeholders impacted

M3

Purposeful products and services driving financial inclusion

Risk/Opportunity

Opportunity

Why is it material?

Our offerings are designed to provide affordable protection, support financial planning and improve insurance access, especially among underserved communities. This not only contributes to societal well-being but also broadens our market reach.

How we capitalise on these matters

Offer affordable insurance and micro-plans for underserved segments
Leverage the banca partner’s extensive branch and digital network, along with the agency network, to enhance accessibility
Align with financial inclusion to build trust and brand loyalty.
Drive inclusive, sustainable growth and market resilience

UNSDGs

Capitals impacted

Strategic objectives

SO1, SO2, SO3,

Stakeholders impacted

M4

Data privacy and information security

Risk/Opportunity

Risk

Why is it material?

With the surge in digital transactions, safeguarding customer data has become critical. A breach could compromise trust and compliance, impacting business sustainability.

How we mitigate these matters

Enforcing a comprehensive Information and Cybersecurity Policy and Data Governance Policy
ISMS - ISO 27001:2022 Information Security Management System
Operating a 24/7 Security Operations Centre (SOC) for continuous monitoring and threat response
Implementing proactive risk management frameworks to identify and mitigate potential threats
Establishing incident response protocols to ensure swift and effective action during breaches

UNSDGs

Capitals impacted

Strategic objectives

SO2, SO3, SO5

Stakeholders impacted

M5

Risk management and business continuity

Risk/Opportunity

Risk

Why is it material?

Robust risk management helps mitigate disruptions, protect critical assets and ensure operational continuity during crises.

How we mitigate these matters

ISO 31000:2018-compliant ERM framework, reviewed annually by the Risk Management Committee
ISO 22301:2019-certified Business Continuity Management System (BCMS)
Clear incident response protocols to ensure business resilience

UNSDGs

Capitals impacted

Strategic objectives

SO2, SO3

Stakeholders impacted

M6

Employee and supplier centricity

Risk/Opportunity

Opportunity

Why is it material?

Creating a diverse, inclusive and growth-oriented workplace is key to long-term success. We support our employees and partners through upskilling, feedback and motivation, while embedding sustainability within our supply chain.

How we capitalise on these matters

Invest in employee training and career growth
Promote inclusive and supportive work culture
Reward and recognise employee performance
Build transparent, ethical supplier relationships
Ensure fair and responsible procurement
Collaborate with suppliers to drive innovation

UNSDGs

Capitals impacted

Strategic objectives

SO2, SO4

Stakeholders impacted

M7

Human rights

Risk/Opportunity

Risk

Why is it material?

Respecting human rights across our value chain reinforces our commitment to inclusivity, fairness and dignity in the workplace. Poor human rights practices can lead to disvestment or reputational downgrades.

How we mitigate these matters

Human Rights Policy in place to uphold ethical standards
Publicly accessible Whistleblower Policy to report concerns
Supplier Code of Conduct ensures human rights compliance across the value chain

UNSDGs

Capitals impacted

Strategic objectives

SO4

Stakeholders impacted

M8

Responsible investment

Risk/Opportunity

Opportunity

Why is it material?

Integrating ESG principles in investment decisions is key to ensuring sustainable returns while creating long-term stakeholder value.

How we capitalise on these matters

Integrate ESG criteria into investment decisions.
Focus on sustainable and socially responsible asset allocation.
Invest in green and renewable energy projects supporting climate goals.
Balance risk and returns while promoting long-term value creation.
Engage with portfolio companies to encourage responsible business practices.
Comply with regulatory standards and promotes transparency in investments.

UNSDGs

Capitals impacted

Strategic objectives

SO2

Stakeholders impacted

M9

Environmental impact and climate change

Risk/Opportunity

Risk

Why is it material?

Rising climate risks and resource consumption pose challenges to operations and insurance underwriting. Proactively addressing emissions, water usage and waste management is essential to ensuring long-term resilience and sustainability.

How we mitigate these matters

Tracking and monitoring of GHG emissions, water usage and waste generation
Roadmap in place to reduce footprint via renewable energy, water recycling and e-waste management
Focus on biodiversity conservation and climate adaptation

UNSDGs

Capitals impacted

Strategic objectives

SO2, SO5

Stakeholders impacted

M10

CSR and community development

Risk/Opportunity

Opportunity

Why is it material?

Social initiatives form the backbone of our long-term growth. Driving change at the community level enhances our social licence to operate while creating a lasting impact.