Key targets for 2007
| Community |
- The new agreement that commences on 1 January 2007 places more emphasis on the preparation of future champions as the sport of athletics targets the Olympic Games in London in 2012, whilst at the same time widening the appeal and reach of athletics to encourage increased participation amongst all children. Investment in grassroots athletics will almost treble.
- It is estimated that as a result of this increased investment by Norwich Union, over 10 million children and 1.5m families will be involved in the various Norwich Union grassroots schemes by 2012.
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| Customers |
- Our ambition is to ensure that fair treatment of our customers is deeply engrained in our behaviours, process and systems. Significant progress is being made, but we have more to do to achieve what we have set ourselves.
- Norwich Union Insurance (NUI) A recent visit by the FSA to NUI judged that they are currently at the initial stages of embedding TCF within the business and outlined the need for continual improvements in developing our customer-centric activities.
- While NUI does not have a formal ‘TCF programme’ we have existing, well developed initiatives such as Leadership and Care, 7 Principles of Care and our “Insurance at our Core, Care at our Heart” philosophy.
- Norwich Union Life (NUL) NUL is following a similar approach to NUI by using TCF to support the business strategy.
- Norwich Union continues to pursue the possibility of a reattribution of the inherited estate of two of its with-profit funds: CGNU Life and Commercial Union Life Assurance Company. The company has agreed terms of reference with the independent Policyholder Advocate, Clare Spottiswoode, an appointment approved by the Financial Services Authority. Work will continue in 2007.
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| Environment |
- To assist the holistic energy management strategy NU will invest in desktop, facilities and building power-management technology to further reduce our energy consumption, enhancing our climate change mitigation and adaptation message to staff, other businesses and stakeholders while reducing operating costs.
- NU is also looking to adopt a company-wide travel plan and adapt the existing Aviva environmental policy for the RAC context.
- RAC Auto Windscreens’ policy and marketing campaign to repair rather than replace windscreens – they now repair one in five.
- Paper towels in toilet areas across the company will also be replaced by electric or roll-towels to reduce the amount of waste sent to landfill. The electric dryers are powered by the emission-free energy.
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| Employees |
- As part of the wider review of the company structure, a single HR function has been created across Norwich Union.
- A new Head of Leadership Excellence has been appointed to sharpen the focus on leadership development in NU. Authentic leadership is a concept that NU is starting to embed, which promotes the understanding of effective individual leadership style, and builds acceptance for different ways of achieving outcomes.
- A new Head of Talent Management has been appointed to revise all elements of our talent management strategy to ensure that we build a highly capable workforce for now and for the future.
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Further objectives and targets for 2007 and ongoing can be found in our full CSR report in the attached PDF
