I could not be happier with the significant progress made on our non-financial and sustainability commitments, including the advancements in sustainable products and investments, as well as in human resources. This clearly indicates that sustainability is truly at the heart of Ageas's operations. I am also pleased with the substantial advancements the Group has made on Impact24's strategic pillars by diversifying distribution, strengthening customer relationships, and increasing efficiency through the integration of technology, Data, and artificial intelligence, along with partnerships with digital platforms. These achievements provide a strong foundation for the success of Elevate27 going forward.
– Karolien Gielen, Managing Director Business Development
Under Impact24, Ageas set for the first time non-financial and sustainability targets in relation to Customers, People, Society and Climate. At the end of the strategic cycle, Ageas met all targets but one. As a result, Ageas's scores from the six ESG rating agencies assessing the Group significantly improved, reaching Top Quartile with one. With 29% of Gross Written Premiums coming from sustainable products we largely exceed the percentage of products that qualify for the 25% of Gross Written Premium (GWP) objective of products actively contributing to the transition toward a more sustainable world. As for our investments making a positive impact on sustainability, they have grown to EUR 14.6 billion, largely surpassing the ambition set for 2024.
Over the Impact24 strategic cycle, Ageas increased its Competitive Net Promotor Score (cNPS) tracking from six countries to nine (out of the thirteen countries it operates in), with six entities reaching a top quartile score at the end of 2024.
Ageas’s employee engagement level for its consolidated entities, expressed via the Employee NPS (eNPS), increased by six percentage points to 73%. This positions the Group well above the top quartile benchmark norms. Over the strategic cycle Ageas made good progress across all people KPI’s in line with our ambition to create a “Great place to Grow” for our employees.
During Impact24 Ageas launched numerous initiatives aimed at reinforcing its core business, diversifying distribution encompassing both traditional and next-gen partners, elevating the customer experience, and seamlessly integrating new technologies and the use of Artificial Intelligence and GenAI into its operations. Additionally, Ageas successfully positioned itself as a partner on digital platforms and in embedded insurance models, allowing access to new pools of customers and simplifying access to insurance.
IMPACT24 NON-FINANCIAL & SUSTAINABILITY TARGETS | |||
|---|---|---|---|
Target | Performance 2024 | Performance 2023 | |
Competitive Net Promoter Score (cNPS)* | Top quartile in all markets | 25% | 25% |
Percentage of GWP from products that stimulate the transition to a more sustainable world | 25% | 29% | 28% |
Employee Net Promoter Score (eNPS) | Top quartile benchmark: 67 | 73.0 | 67.4 |
GLASS CEILING INDEX (Via Women in Finance): | |||
Ratio % Women in senior management/ total % women in company | 70% ratio | 65% | 65% |
Balanced (M/F) Succession pipeline Top 800 management | 50-50 | 50-50 | 62-38 |
GENDER DIVERSITY INDEX (via Women on Board): | |||
Equal participation of women at decision level | Top quartile | 0.90 | 0.87 |
Investments making a positive contribution to transition towards a more sustainable world | EUR 10 billion | EUR 14.6 billion | EUR 13.2 billion |
Level of ESG-integration of investment decisions | 100% | 100% | 100% |
Carbon emissions of the operations (scope 1 & 2) | Neutral | Neutral | Neutral |
* % of consolidated entities with a top quartile Competitive NPS
You are reading an article that is part of our Annual Report 2024.
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