ALIGNMENT WITH UN SDGs
- SUSTAINABILITY
FRAMEWORK - GOVERNANCE
STRUCTURE - STAKEHOLDER
ENGAGEMENT - CORPORATE GOVERNANCE,
ETHICS AND RISK MANAGEMENT - DATA GOVERNANCE,
PRIVACY AND CYBERSECURITY
Tune Protect aims to look beyond mere financial success and are committed to the Triple Bottom Line as responsible corporate citizens, aligning our sustainability efforts across three core dimensions: People, Planet, and Profits.
Our Sustainability Framework rests on four foundational pillars: Our Governance, Our Business, Our Environment, and Our People & Community. With our sustainability tagline, ‘In Tune for a Better Tomorrow,’ we are steering our sustainability journey to a brighter future.
To facilitate ongoing improvements in our sustainability performance, our Sustainability Committee (“SuCom”) and the Board review material topics annually.
Our Commitment to Sustainability
Our Sustainability journey is supported by our evolving commitments, among others:
- Introduced Quarterly IT Security Awareness Training
- Incorporated a new “Whistleblow Bribery & Corruption” link on the landing page of the Tune Protect Group official website
- First Malaysian insurer to host core system on to Cloud
- Launched an award-winning Parametric Claim Solution for travel insurance policies for instant payouts to e-wallets*
- Zero Coal in our underwriting portfolio since August 2023
- Enhanced climate-related risk identification, assessment, management and monitoring practices
- Women occupy 50% of our Board seats as of 31 December 2023.
- Employees volunteered 4,173 hours for community investment in 2023
Tune Protect Group is a corporate member of 30% Club Malaysia, a business-led campaign that advocates gender parity.
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Tune Protect Group is a corporate friend of Climate Governance Malaysia, the Malaysian chapter of the World Economic Forum’s Climate Governance Initiative.
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Tune Protect Group became a TCFD supporter in August 2022. We adopted the recommendations of TCFD, which aims to improve and increase reporting of climate-related financial information.
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Tune Protect Group is in support of Malaysia Digital Climate Action Pledge (MDCAP), an initiative by the Malaysia Digital Economy Corporation (MDEC) to accelerate the number of sustainability commitments and climate actions made by businesses across the digital economy.
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Tune Protect Group is a signatory to UN’s Women’s Empowerment Principles (WEPs), by which we are committed to making a difference for gender equality and women’s empowerment in the workplace, marketplace and community.
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Tune Protect Group became a signatory to the United Nations Global Compact Network Malaysia & Brunei (UNGCMB), in which we engage more deeply with the principles of good business as defined by the UN.
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Our Sustainability Awards and Recognitions
ESG Rating
3.6 out of 5.0
(as at December 2023)
ESG Grading Band
Top 26-50% quartile
(as at December 2023)
Our commitment towards ESG is reflected in the continuous improvement of our FTSE4Good ESG Rating and Grading Band.
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MSWG – ASEAN Corporate Governance Awards
Industry Excellence Award for CG Disclosure
(Financial Services) 2021
The Edge – ESG Awards 2022
GOLD award for Most Improved Performance
over 3 Years
Best Annual Report
IR Magazine South East Asia
Awards 2022
* Responsibilities in managing climate-related risks are allocated across the three lines of defence.
- 1st line of defence – Business units identify and manage risks (including climate-related risks) associated with their day-to-day operations.
- 2nd line of defence – Risk management function undertakes climate-related risk assessments and monitoring. Compliance unit ensures adherence to applicable laws, regulations & internal policies.
- 3rd line of defence – Internal audit provides independent review and objective assurance
Task Force on Climate-Related Financial Disclosures (TCFD) 1a
Describe the board’s oversight of climate-related risks and opportunities.
TCFD1b
Describe management’s role in assessing and managing climate-related risks and opportunities.
Global Reporting Initiative (GRI) 2-12
Role of the highest governance body in overseeing the management of impacts
GRI 2-14
Role of the highest governance body in sustainability reporting
Describe the board’s oversight of climate-related risks and opportunities.
TCFD1b
Describe management’s role in assessing and managing climate-related risks and opportunities.
Global Reporting Initiative (GRI) 2-12
Role of the highest governance body in overseeing the management of impacts
GRI 2-14
Role of the highest governance body in sustainability reporting
Sustainability Reporting Guide (SRG)1.1a
Question (a): Who is responsible for the oversight of the company’s material sustainability matters?
Question (b): What is the nature of oversight performed?
SRG1.1b
Question (b): What is the nature of oversight performed?
SRG1.2a
Question (a): Who is responsible for the strategic management of the company’s material sustainability matters?
SRG1.2b
Question (b): What is the nature of strategic management performed?
SRG1.3a
Question (a): Who performs/implements sustainability-related tasks and initiatives on a day-to-day basis?
Question (a): Who is responsible for the oversight of the company’s material sustainability matters?
Question (b): What is the nature of oversight performed?
SRG1.1b
Question (b): What is the nature of oversight performed?
SRG1.2a
Question (a): Who is responsible for the strategic management of the company’s material sustainability matters?
SRG1.2b
Question (b): What is the nature of strategic management performed?
SRG1.3a
Question (a): Who performs/implements sustainability-related tasks and initiatives on a day-to-day basis?
At Tune Protect, we strive to create a shared value among our shareholders. We regularly engage with our stakeholders to understand and address their evolving priorities. We employ a variety of mechanisms for engagement to gain a holistic picture of the sustainability matters that are of utmost concern to our diverse stakeholders, who comprise of customers, regulators, government bodies, shareholders, investors, analysts, employees, agents and intermediaries, local communities, media and business partners.
Below is a list of our stakeholders and how we engage them.
| Stakeholder Group | Method of Engagement | Frequency of Engagement |
|---|---|---|
| Customers | Customer Service Centre | Location and operating hours available on the corporate website |
| Customer satisfaction survey (Customer NPS Survey) |
Bi-annual, As and when | |
| Digital platforms and social media platforms | 24/7 | |
| Social media platforms | 24/7 | |
| As and when | ||
| Online survey (sustainability survey) | Biennial | |
| Regulators and government bodies | Regulatory reporting | Monthy, Quarterly, Biannual, Annually |
| Correspondence and monitoring via letters, emails and calls | As required | |
| Face-to-face meetings and review | Scheduled/Ad-hoc | |
| Online survey (sustainability survey) | Biennial | |
| Shareholders, investors and analysts | AGM (Annual Reports, Shareholders’ Circulars and CG Report) | Annually |
| Analyst briefings (analyst presentation slides, interim financial statements and press releases) | Quarterly | |
| Regular dialogues (one-on-one and group meetings, webinars, conferences, roadshows and Corporate Days) | Ad-hoc basis | |
| Investor Relations webpage | 24/7 | |
| Online survey (sustainability survey, analysts, institutional and retail investors’ feedback) | Ad hoc basis, Biennial | |
| Employees | CoC Month activities | Annually |
| Internal engagement activities (including onboarding workshops, in-house webinars, town halls, team building, social media platform on Viva Engage) | Monthly, Quarterly, Ad hoc basis | |
| Performance reviews | On-going | |
| Policies and procedures | Via Corporate intranet | |
| Employee Engagement Survey (Employee NPS Survey) | Bi-annual | |
| Online survey (sustainability Survey) | Biennial | |
| Agents and intermediaries | Training and awareness | Annually |
| Online survey (sustainability survey) | Biennial | |
| Local communities | Community activities | Scheduled/Ad hoc basis |
| Community partnerships | Scheduled/Ad hoc basis | |
| Online survey (sustainability survey) | Biennial | |
| Media | Media engagements | As required |
| Media interviews and press releases | Twice per quarter | |
| Company/Corporate events | Quarterly | |
| Online survey (sustainability survey) | Biennial | |
| Business partners | Meetings (face-to-face/virtual, and group meetings) | Scheduled/Ad hoc basis |
| Scheduled/Ad hoc basis | Onboarding and upon renewal | |
| Partner Satisfaction Survey (Partner NPS Survey) | Bi-annual | |
| Online survey (sustainability survey) | Biennial |
We are steadfast in upholding the highest standards of business ethics, transparency, integrity and accountability. We understand that any deviation from these principles poses significant financial and reputational risks.
Tune Protect’s comprehensive framework serves as a guiding compass for all our operations, ensuring alignment with our core values and commitment to integrity.
Tune Protect maintains a zero-tolerance stance against any form of bribery, corruption, fraud, money laundering and abuse of power.
All Whistleblowing Reports received via the official Whistleblowing Channel are channelled directly to the RMC Chair, who then directs the Whistleblowing Investigation Team (“WBIT”) to investigate. Other relevant personnel are optionally invited to stand in as WBIT members when a genuine conflict of interest is identified.
Among the initiatives carried out relevant to this is our ABC Training & Awareness, the CoC Online Training Modules, and our alignment with globally recognized human rights frameworks.
Our adherence to core policies and guidelines focused on data governance, privacy and cybersecurity ensures responsible data management, privacy protection and cybersecurity measures:
- Group Privacy and Data Risk Management Policy (in compliance with BNM’s Policy Document in Management of Customer Information and Permitted Disclosures)
- BNM’s Policy Document on Risk Management in Technology (“RMiT”)
- Personal Data Protection Act 2010 (“PDPA”)
