Intact Financial goes beyond profits, releases social impact report

Intact Financial goes beyond profits, releases social impact report | Insurance Business Canada

Non-Profits & Charities

Intact Financial goes beyond profits, releases social impact report

Stakeholders emphasize importance of building resilience in communities

Non-Profits & Charities

By
Miko Pagaduan

Intact Financial Corporation, the largest provider of property and casualty (P&C) insurance in Canada, has released its 2022 Social Impact & ESG Report – Building Resilient Communities.

The report provides insights into the company’s objectives, financial and non-financial goals, and performance against societal metrics.

Intact’s purpose, to help people, businesses, and society prosper in good times and be resilient in bad times, underpins the company’s commitment to building resilient communities.

According to Diane Flanagan, deputy senior vice president of corporate affairs and communications at Intact, and chair of the Intact Foundation, helping is at the heart of the company’s purpose, and it puts its expertise and resources to work every day to get customers back on track, prepare communities to face the impacts of climate change, and create opportunities for families living in poverty.

The report highlights Intact’s efforts to build resilient communities, which it defines as being climate-proof and economically thriving.

Intact has been on the frontlines of climate change with customers for over a decade, handling over one million claims in 2022 alone, and paying out $11 billion to get customers back on track.

Intact has also invested $25 million into 100 climate resilience projects over a 13-year period, including partnerships with the Intact Centre on Climate Adaptation at the University of Waterloo, the Nature Conservancy of Canada, and Gloucestershire Wildlife Trust in the U.K.

Intact’s efforts to promote economic resilience

Intact’s efforts to build economic resilience have focused on creating opportunities for families living in poverty.

For its annual Generosity in Action campaign, Intact partnered with United Way Canada and matched employee contributions allocated to programs focused on supporting vulnerable communities.

Intact has also partnered with the Breakfast Club of Canada with a $3 million commitment to help expand and sustain children’s breakfast programs across the country.

Intact’s 29,000 employees have also stepped up to demonstrate the company’s value of generosity. Last year, employees donated more than $3 million globally and volunteered 14,778 hours of their time to more than 400 organizations.

To enhance employee generosity, Intact donated $12.5 million to more than 2,000 organizations globally.

Intact has also introduced the Resilience Barometer, which aims to have “three out of four stakeholders recognize Intact as leaders in building resilient communities.” The company worked with the global market research firm, Ipsos, to create the Resilience Barometer to measure its performance.

Six stakeholder groups were surveyed – customers, employees, brokers, investors, governments, NGOs, and industry associations. The initial results were encouraging, with more than half of the company’s stakeholders recognizing Intact as a leader in building resilient communities, and 90% of stakeholders believing that Intact has a responsibility to help communities become more resilient.

Overall, Intact’s 2022 Social Impact & ESG Report – Building Resilient Communities demonstrates the company’s commitment to building resilient communities, both in terms of climate resilience and economic resilience.