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About

Stakeholder Communication and Engagement

About
Stakeholder Communication and Engagement

Stakeholder Engagement Standards

Cathay Century Insurance referenced the five attributes of the AA1000 Stakeholder Engagement Standards (Dependency, Responsibility, Influence, Diverse Perspectives, and Tension) to identify 8 stakeholder categories. We have established diverse channels to collect, analyze, and communicate stakeholder issues of concern to serve as an importance reference for formulation of subsequent management guidelines and implementation plans.

Employees
Government and
Competent Authorities
Channel Partners
Clients
Reinsurance Companies
NPOs/NGOs, Experts,
and Scholars
Collaborating Partners
Suppliers and Contractors

Employees

Significance for Cathay Century Insurance
Faced with increasingly rapid changes within the industry, recruiting, cultivating, and retaining outstanding cross-disciplinary talents has become the key to future operations at Cathay Century Insurance.
Engagement Methods and Frequency
Labor-management meetings: Convened once every quarter
Employee engagement survey: Once every year
Sexual harassment hotline: When incidents occur
Internal employee discussion section: Occasionally
Cathay Financial Holdings chairman’s mailbox: Occasionally
Education and training: Online and in-person training is organized occasional each year
Cathay Century Insurance Responses
In recent years, Cathay Century Insurance has provided employees with diverse learning channels and cross-departmental development opportunities in response to constant changes in digital developments and sustainability issues. Average training hours for each employee in 2023 was 57.2 hours.
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299

Government and Competent Authorities

Significance for Cathay Century Insurance
Cathay Century Insurance strictly abides by laws and regulations established by the government and competent authorities. We keep informed of the latest updates to laws and also support government policies and sustainable development in Taiwan.
Engagement Methods and Frequency
General audits: We regularly report implementations of audit plans
General financial inspections: At least once every two years
Official documents/phone/email: Occasionally
Disclosures on the Market Observation Post System: In accordance with the requirements of competent authorities
Seminars/symposiums: Occasionally
Special financial inspections: Occasionally
Special audits: Occasionally
Cathay Century Insurance Responses
We participate in monthly Injury Insurance and Health Committee meetings of the Non-Life Insurance Association of the Republic of China to discuss procedures related to different insurance types, including product clauses, operational processes, regulatory changes, and response measures to external environment changes and needs, exchanging information with our peers to promote mutual prosperity and progress within the insurance industry.
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299

Channel Partners

Significance for Cathay Century Insurance
Cathay Century Insurance channel partners include external channel partners and internal channel partners from Group subsidiaries. The former include insurance agents and insurance brokers, and the latter include salespeople at Cathay United Bank and Cathay Life Insurance. All partners are important stakeholders to the Company's business promotions and continuous outstanding business performance.
Engagement Methods and Frequency
Insurance agent appraisal and scoring: Once a year
Routine meetings:
  1. 2 routine meetings each month
  2. Quarterly north and south r egional associate manager/manager meetings/bank insurance representative liaison meetings
Education and training:
  1. 1-4 certification classes across Taiwan each month
  2. 2-4 coaching classes across Taiwan each month
  3. Non-periodic CSN education and promotion
  4. Phone calls/emails/meetings with insurance brokers: Occasionally
  5. Group channels: Emails and physic al classes: Occasionally
  6. Channel partner contact network: Occasionally
Cathay Century Insurance Responses
Cathay Century Insurance continually optimizes online insurance systems and digital tools while also providing diverse meetings and communication channels to jointly improve customer service along with our channel partners.
In 2023, we hosted 30 routine meetings, 18 certification classes, and 42 channel training classes.
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299

Clients

Significance for Cathay Century Insurance
Cathay Century Insurance adheres to a business philosophy that emphasizes balancing quality with quantity while maintaining stability and pragmatism. We develop products and services from the customer’s viewpoint to meet their needs and provide comprehensive insurance protection.
Engagement Methods and Frequency
Customer satisfaction surveys: Once a year
Corporate website member center/emailed queries on official website: Occasionally
Official LINE account: Occasionally
Toll-free service hotline/overseas emergency rescue services/24-hour road rescue service hotline/Internet hotline: Occasionally
Smart assistant on official website: Occasionally
Correspondence offices and claims service centers across Taiwan: Occasional phone communications and customer visits
Financial Ombudsman Institution/Insurance Bureau/Municipal customer dispute resolution agencies and other grievance channels: Occasionally
Cathay Century Insurance Responses
Cathay Century Insurance has actively worked to digitalize services in recent years in hopes of providing low-carbon and high-efficiency service processes to customers through “digitalization, mobilization, and systemization”.
In 2023, overall satisfaction, corporate trustworthiness, and willingness to renew property insurance policies all scored above 5.29 points.
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299

Reinsurance Companies

Significance for Cathay Century Insurance
Cathay Century Insurance evaluates retained risks based on risk management mechanisms and plans, and transfers a portion of risks to reinsurance companies to diversify risks, expand underwriting capacities, and support stable operations.
Engagement Methods and Frequency
Phone calls/emails/meetings: Occasionally
Activities/exchange forums: Occasionally
Cathay Century Insurance Responses
To ensure management of and countermeasures to the latest risks, Cathay Century Insurance not only works closely with reinsurance companies, but also exchanges information on the latest insurance cases with reinsurance companies each year to enhance risk management capabilities.
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299

NPOs/NGOs, Experts, and Scholars

Significance for Cathay Century Insurance
Through exchanges and consultations with NPOs/NGOs, experts, and scholars, we effectively combine practice with theory as we conduct research on and promote various ESG issues related to the insurance industry from the cutting edge of insurance services.
Engagement Methods and Frequency
Phone calls/emails/meetings: Occasionally
Activities/exchange forums: Occasionally
Cathay Century Insurance Responses
Cathay Century Insurance continually implements environmental and social innovations, and we also leveraged the power of NPOs/NGOs, experts, and scholars to calculate the carbon intensity of auto insurance and energy insurance products.
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299

Collaborating Partners

Significance for Cathay Century Insurance
We closely work with external partners to develop innovative and diverse insurance products and services.
Engagement Methods and Frequency
Phone calls/emails/meetings: Occasionally
Activities/exchange forums: Occasionally
Cathay Century Insurance Responses
In 2023, we worked with our partners to co-organize 39 traffic safety courses on school campuses which reached more than 2,500 people.
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299

Suppliers and Contractors

Significance for Cathay Century Insurance
By incorporating ESG issues into supplier and contractor selection and collaboration processes, we ensure that supplier and contractor services comply with our sustainability philosophies as we work together to achieve sustainable development.
Engagement Methods and Frequency
Cathay Financial Holdings supplier conference: Once a year
Phone calls/emails/meetings: Occasionally
Cathay Century Insurance Responses
We work with our suppliers to fulfill our corporate social responsibilities and build sustainable corporate value chains; more than 100 of our suppliers have signed the “Cathay Group Sustainability Value Declaration.”
Note：
Cathay Century Insurance Corporate Planning Department | 11A0000@cathay-ins.com.tw | +886-2-27551299