Material Topic
Material topic analysis process
We carry out material topic analysis every year through the four steps: examine, identify, verify, and establish. We establish a corresponding management approach for material topics that are identified to ensure that related measures are implemented.
We referenced results of material topic analysis in the past, international indicators and standards, characteristics of the insurance industry, and international trends in sustainable development, and periodically updates the list of sustainability-related issues to cover corporate governance, environmental, and social aspects.
We continued to distribute questionnaires in the form of electronic questionnaires in 2022, and expanded subjects that questionnaires were distributed to Company collected 278 effective questionnaires from internal and external stakeholders, in order to understand stakeholders' level of concern for each sustainability-related issue. Furthermore, 18 effective questionnaires were collected from senior managers of Company, in order to understand the degree of impact each sustainability-related issue has on the Company's operations.
The 2022 material topic matrix was completed based on stakeholders' level of concern for each topic and evaluation results of the degree of impact on our operations. We then selected 12 material topics on this basis.
Material Topic Matrix
Regularly discuss sustainability issues with stakeholders and refer to the opinions of the company's manager executives to identify major themes.。Four material topics were added in 2022, namely “Green Operations,” “Responsible Investment,” “Digital Finance and Innovation,” and “Community Involvement,” which shows that stakeholders attach importance to our performance in the 4 material topics above.
Material Topic Impact Assessment
The Sustainable Development Department comprehensively evaluated the positive and negative "degree of impact" and "frequency/probability of occurrence" of the 12 material topics identified above with respect to their external ESG impact. Graphs are used to show the degree of impact of material topics in different aspects, so that the probability of future impacts of material topics can be observed. The material topics are then ranked by materiality according to the material topics matrix. We respond to potential impacts and make reinforcements by improving business processes and decision-making based on evaluation results.
