Our colleagues allow us to bring this ambition to life by serving our customers, especially in times of need and helping us bring our culture to life through ‘The Gallagher Way’. In recent years, we have seen the need for us to raise the profile of what we are doing to address the environmental, social and governance (ESG) issues we face, and how we continue embedding these into our everyday actions.
For those not familiar with ESG it is all about a company’s approach to environmental considerations, relationships with their communities (clients, colleagues and suppliers), as well as how organisations apply good business practice and are governed so that investors can make sound and credible assessments of the company.
Forward thinking organisations such as Gallagher have grasped ESG and developed strategies to ensure the inward facing approach of the past where only shareholder value mattered is replaced by a more outward facing approach where the communities we serve are the dominant priority.
There are few sectors of commerce which support society in the same way that insurance does. We design and deliver solutions which underpin the fabric of society, providing a safety net for the vulnerable and allowing commerce to continue trading even after adverse events.
Innovation is something which is not often associated with our profession but the reality is very different. Recent global events have required the development of risk financing solutions which allow communities to recover from significant changes in climatic risk and geopolitical instability. Examples include Pool Re and Flood Re in the UK and Sasria in South Africa. There are many other examples and it is a credit to Insurers and brokers that not only can we design solutions but we can deliver the infrastructure to ensure those effected are support as soon as possible.
The importance of “delivering more with less” is something publically funded organisation have been required to tackle in recent years. As result the public purse is turning to the private sector and asking them to get involved through delivery of social value. We would argue that we deliver social value every day through the solutions we provided and the activities we undertake in our communities as part of our ESG strategy.
Join us on 28 June for a short and informative session where we will outline where Gallagher are in the ESG journey and how social value fits into that. We will be joined by the Social Value portal who will offering some thoughts on how organisations can deliver social value through the procurement of their insurances and brokers.