Corporate Social Responsibility, also called Corporate Social Responsibility or CSR, is defined by the European Commission as “the responsibility of companies for the effects they have on society”. It encompasses the ethical, social, societal or even environmental actions implemented by companies to contribute positively to society. CSR has now become a real challenge for companies, including those in the insurance sector. In addition, according to SPVIE Assurances, it offers many advantages to organizations.
What is Corporate Social Responsibility?
By taking into account environmental or social concerns to implement its actions, a company can have a positive impact on society while developing its activity.
SPVIE recalls that CSR is based on three pillars, namely:
– the social pillar, which encompasses human issues such as education, respect for human rights, health, etc.; – the environmental pillar, thanks in particular to recycling or renewable energy actions in order to limit the emission of greenhouse gases; – the economic pillar, where the local economy is privileged.
Faced with contemporary challenges, particularly in terms of sustainable development, companies are now all concerned by CSR, including those in the insurance sector. It should also be noted that since the PACTE law it has become a legal obligation.
The CSR regulatory framework
“All French companies without exception must “take into consideration” environmental and social issues in the management of their activities”.
Article 225 of Grenelle II, applicable since 2012, initially motivated many companies to commit to a CSR policy. Indeed, listed companies were required to publish extra-financial reporting indicating their social, societal and environmental information. The CSR trend then accelerated with article 173 of the law on energy transition for green growth in 2015.
It has also been reinforced by a legislative and regulatory framework (Article 1833 and 1835 of the Civil Code). Its scope has also been framed by the ISO 26000 standard which defines its main themes:
– communities and local development; – human rights ; – the environment ; – the governance of the organization; – fair practices; – consumer issues; – working relationships and conditions.
The opinion of SPVIE Assurances on the challenges of a CSR policy
Much more than a simple marketing operation, CSR has many advantages for companies. It directly impacts their image and their employer brand, but also their productivity.
#1 Corporate Social Responsibility, a lever for growth
SPVIE Assurances recalls that, according to a study by France Strategy, CSR allows a 13% growth in performance!
A company with a strong CSR approach will indeed differentiate itself from its competitors and enhance its image. Its attractiveness is thus reinforced with its prospects and customers. It should be noted that nearly 65% of French consumers say they choose (or reject) a brand according to its position (Elan Edelman study).
Corporate Social Responsibility will also enable the company to reduce its operating costs, better assess its projects and improve the quality of its products and services. It also represents a major tool for promoting and stimulating innovation, and therefore, for having broader development prospects.
CSR actions are thus multiplying within insurance companies, particularly in terms of reducing or stopping investment in companies in the coal sector or thermal power plants.
#2 CSR, a powerful HR tool
At a time of talent wars, CSR today represents a lever for HR to consolidate the employer brand which makes it possible to attract the best talents but also to retain employees.
CSR makes it possible to strengthen the feeling of belonging and team cohesion, criteria that contribute to the commitment and motivation of employees. Their involvement is thus optimized, which, in the opinion of SPVIE, generates better productivity.
The MEDEF National Perception Barometer perfectly highlights the challenges of CSR from an HR point of view:
– 58% of employees say that CSR is an important criterion in choosing their job; – 83% of respondents enjoy working in a company with a CSR strategy (only 64% in a company that does not have a CSR policy); – 70% of employees believe they are more “faithful” and more “loyal” to their company if it is invested in a CSR approach; – 51% of employees refuse to work for a company that has no stated social or environmental commitment.
#3 To adapt to customer requirements
Consumer expectations are constantly changing. Insurance professionals must be resilient in order to adapt, particularly from an environmental point of view. The French are now attentive to the “cleanliness” of companies and it is now crucial to offer them insurance products with environmental value.
SPVIE, a player committed to CSR
SPVIE Assurances is an actor that advocates deep values. Commitment is thus inscribed in its DNA, whether towards its customers to offer them products adapted to their needs, but also towards its employees.
Well-being at work is thus at the heart of the group's HR policy and various systems have been put in place: sponsorship system for new recruits, quiet space to be able to isolate themselves, gym, food truck… objective is to offer employees optimal working conditions, designed for them.
In addition, SPVIE has forged many solid partnerships, particularly with sports and social associations such as:
– the Ile aux Enfants School, to promote the schooling of Malagasy children; – Assure me a project, created by Jérémy Sebag and Cédric Pironneau (the founders of SPVIE) to allow a vulnerable public to access the brokerage professions; – RE solution, where SPVIE agencies have become collection points for recovering clothes, which are then sorted and recycled.
Today more than ever, insurance companies must continue to integrate the social, societal and environmental dimensions into their actions. CSR, much more than a legal obligation, reflects their values and their commitment.