Report Disclosure
Stakeholders and Materiality
Through six major steps of materiality analysis, Taiwan Life identifies and examines issues related to sustainable management, and then proposes corresponding management approaches. As for communication with stakeholders, we maintain multiple channels to collect the opinions of stakeholders, and regularly investigate issues of concern raised by internal and external stakeholders.
Stakeholder Communication Channels and Responses
Based on the five key principles (Dependency, Responsibility, Attention, Influence, and Diverse Perspectives) of the AA1000 Stakeholder Engagement Standard, we distributed 25 questionnaires in 2024, and identified six categories of stakeholders. We have established dedicated communication channels for each stakeholder group and act proactively to ensure their expectations are met. Taiwan Life upholds transparency and openness by disclosing information through diverse communication channels, ensuring effective and positive engagement with stakeholders. In addition, we track issues raised in stakeholder communications and incorporate them into the Company's operational and sustainable development strategies, helping to further enhance our sustainability practices. These issues are also disclosed in the Sustainability Report when appropriate.
| Stakeholders | Significance | Communication issues | Communication channels and frequency | 2024 communication results |
|---|---|---|---|---|
| Shareholders | Stable financial performance and effective risk control are issues of concern to shareholders and investors, and are also the responsibility of Taiwan Life. | ● Operating performance | Quarterly ● Official website ● MOPS |
● Regularly updated the Company's financial overview in the information disclosure section on the official website. ● Published financial reports audited, certified, or reviewed by accountants on the Market Observation Post System. |
| ● Board of Directors meeting agenda ● Corporate governance |
Monthly ● Minutes of Board meetings |
● The Company is solely owned by one institutional shareholder, namely CTBC Holding. Each month, the Board meeting minutes are submitted to the institutional shareholder for review. ● Communicated and discussed important issues regarding corporate governance and Board affairs with CTBC Holding in a timely manner. ● Participated in the Board Meeting Affairs and Corporate Governance Conference held by CTBC Holding to exchange views on group governance objectives and important issues. |
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| Customers | The insurance industry is essentially about people. Taiwan Life works to provide timely responses to policyholders and satisfy their diverse needs. We will continue to improve ourselves to provide services to satisfy our policyholders | ● Insurance consulting services | Monthly ● Customer segment product demand communication (EDM) Real-time ● Appointments made via the official website |
● Over 690,000 views |
| ● Member/user management (Taiwan Life registered website members/LINE/TeamWalk/Call Call Card) |
Real-time ● Introduction to digital services section on official website ● Online services via the policyholder website ● Insurance application services on the online insurance application website ● Online services in the TeamWalk App Irregular basis ● Push notifications via the official LINE account ● Marketing activity information (EDM) ● Introduction to online services (EDM) |
● Nearly 50,000 Online Insurance Applications in Total ● Taiwan Life's official LINE account had a total of 2.29 million friends ● 130,000 new online members, bringing total to 840,000 ● Nearly 10,000 new TeamWalk members, bringing total to nearly 40,000 ● Over 50,000 new Call Call Card members, bringing total to over 110,000 |
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| ● Retirement | Per Year ● Media campaigns, forums |
● Organized 2 forums/media campaigns | ||
| ● Voice of the customer (VOC) | Daily ● Customer Service Hotline (service hours: Monday to Sunday, 08:00 - 24:00) ● Smart customer service chatbot A-long ● Taiwan Life official website’s "Speak Out" feedback site ● Customer complaint hotline Irregular basis ● VOC feedback ● Contact by phone |
● VOC feedback: 1,144 cases ● Positive customer feedback: 450 cases ● The customer service chatbot served people on 166,102 occasions, while the human customer text service served people on 10,198 occasions. |
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| Employees | Taiwan Life values its employees as vital assets for sustainable development. Delivering a people-oriented spirit through our workforce and actively responding to employee feedback are key to long-term success. | ● Salary and remuneration ● Employee benefits |
Quarterly ● Labor–management meetings ● Welfare Committee Real-time ● Complaint hotline ● Complaint mailbox |
● 24 labor–management meetings ● 4 Welfare Committee meetings |
| Government | Taiwan Life proactively supports government policies and cooperates with relevant laws and regulations, leading Taiwan's insurance industry to enhance its value and spread positive energy through two-way communication and cooperation. | ● Corporate governance | Irregular basis ● Report to the competent authorities and complete the registration of Board member changes ● Corporate Governance Seminar for the Insurance Industry hosted by the Insurance Bureau |
● After the Company's Board of Directors' term expired, a report was submitted to the competent authority, and registration changes were processed in accordance with regulations. This ensured that the competent authority received the latest information promptly and could conduct subsequent review procedures. ● Participated in the 2024 Corporate Governance Seminar for the Insurance Industry held by the Insurance Bureau, where the competent authority outlined future policy plans and corresponding response measures for insurance companies. The seminar facilitated the exchange of views among attendees from various insurance companies on these topics. |
| ● Board affairs | Monthly ● Minutes of Board meetings |
● Provided monthly Board meeting minutes to the competent authority for reference. | ||
| ● Regulatory compliance ● Consultations on the formulation of laws and regulations ● Compliance promotion activities |
Irregular basis | ● Participated in the Insurance Bureau's 2024 Insurance Industry Legal Compliance Enhancement Seminar ● Participated in relevant meetings periodically and organized compliance-related courses and promotions ● The Compliance Department compiles and distributes relevant regulatory updates and external documents published by the Life Insurance Association of the Republic of China, Insurance Bureau, and other competent authorities to all business units on a weekly and monthly basis. ● In accordance with regulatory requirements issued by competent authorities, the Compliance Department monitors the monthly updates of each unit's internal regulations. |
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| Investment and financing targets | Taiwan Life continues to engage with investment and financing targets to obtain comprehensive and effective information, and works to achieve the goal of maximizing benefits for customers and stakeholders. | ● Corporate governance ● Social issues ● Environmental protection |
Irregular basis ● Company visits ● Phone calls ● Online meetings ● Shareholders' and board meetings of investment targets ● Contract management committee meetings |
● Conducted 10 visits to investment targets to discuss project meetings hosted by the city government ● Attended 19 project development meetings with investment targets and their vendors ● Engaged in phone discussions with investment targets as necessary based on project progress to address implementation details ● Attended 28 board meetings and 13 shareholders' meetings in accordance with the articles of incorporation and relevant regulations of investment targets ● Held 20 contract management committee meetings to offer consultations and advice to the chairpersons of investment targets |
| ● Corporate governance ● Company operations ● Capital investment direction ● Shareholders' equity and profit distribution planning ● Corporate social responsibility: Environmental protection |
Irregular basis ● Participate in institutional investor conferences and shareholders' meetings ● Company visits ● Phone calls/online meetings |
Engagement with invested companies: ● Attended 305 shareholders' meetings ● Made 300 in-person visits ● Attended 257 online meetings ● Communicated by letter 7 times Engagement with financing recipients: ● Corporate financing activities were conducted approximately 112 times, averaging once per client each quarter ● Project financing activities were conducted approximately 20 times, averaging once per client per quarter |
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| Suppliers | Taiwan Life works with suppliers to protect the environment, starting from procurement and advocacy to reduce the negative impact of operations on the environment. | ● Supply chain ESG advocacy ● CTBC Holding environmental sustainability policies and related regulations |
Annual ● Supplier Conference |
● Held the 2024 CTBC Holding Supplier Conference |
● Stakeholder Communication Contact Information
| Stakeholder | Department | Telephone |
|---|---|---|
| Employees | Human Resource Dept | 02-6607-6669 |
| Customers | Customer Service | 0800-099-850 or (02)8170-5156 |
| Suppliers／contractors | General Affairs Dept | (02)8170-9888 Ext. 6520 |
| Investees | Financial Planning & Analysis Investment Dept | (02)8170-9888 Ext. 6659 |
| Government agencies | Compliance Dept . | (02)8170-9888 Ext. 6314 |
Materiality Analysis
Taiwan Life follows the GRI Standards and the guidance of GRI 3: Material Topics to identify material topics and conduct the materiality analysis as the basis for compiling this report. The materiality analysis and relevant content have been submitted to and approved by the Chairman. Based on the materiality analysis results, the Company further develops sustainability strategies and goals, reviews corporate sustainability practices, drives continual improvement across departments, and uses these as the primary basis for responding to stakeholders.
● Materiality Analysis Process
● Material Topic Impact Significance Assessments
● Material Topic Analysis Results
