永續行動
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Environmental
Sustainability
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Social Inclusion
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Corporate Governance
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Environmental Sustainability
Environmental sustainability is one of the most important challenges the world facing and requires the concerted efforts of governments, businesses, social organizations and individuals to take action to protect the environment and achieve the goal of sustainable development.
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Social Inclusion
A state of harmonious coexistence, mutual respect and equal treatment. The emphasis is on social diversity and inclusiveness, so that everyone can find his or her place in society, realize his or her potential, and receive fair treatment and opportunities.
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Corporate Governance
The norms and mechanisms of the internal management structure and mode of operation of the organization. Operate in a transparent, fair and responsible manner to protect the interests of investors and promote the long-term stable development of the enterprise.
Sustainable Operations
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Valuing Forests – Paper Less Process |
In 2023, the reduction in paper consumption will amount to 3,295,880 sheets, which will reduce carbon emissions by about 59 metric tons and cut down the felling of 396 trees.
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| Paperless Meeting | Electronic signature | Mobile Insurance | Electronic Policy |
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Resilient Operations – Energy Resource Management |
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Electricity Consumption(Past Three Years)
Notes:
For more information, please refer to 2024 Sustainability Report. |
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Net Zero Transformation – Greenhouse Gas Inventory and Reduction Measures |
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| Conduct greenhouse gas inventory annually. | Set reduction targets about own operations. | Gradually replace business vehicles
with new energy vehicles. |
Use renewable energy. |
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Products and Services that Contribute to the Realisation of the Sustainable Development Goals (SDGs)
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Sustainable Personal Insurance – Putting Sustainability into Practice Every Day of Life |
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Sustainable Business Insurance – Promoting Sustainable Industrial Upgrading |
Climate Change Management
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Governance – Refining the Climate Management Mechanism |
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| Set “Climate-Related Risk Management Measures”.
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TCFD management system introduction project meeting.
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Regularly report the implementation plan and results to the sustainability committee and the Board of Directors.
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Strategy – Planning for Climate Change |
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| Mapping the climate risk and opportunity matrix with the significance of climate issues.
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Climate anomaly risks are incorporated into the risk register and managed using KRI and KCI.
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Quantitatively and separately assess the finance and insurance operations otential loss from climate-related risks. |
| MSIG Mingtai’s Response to Significant Climate Risks and Opportunities |
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| Note: Short-term refers to within 2 years; mid-term is 3–5 years; long-term is over 5 years. |
| Scenario Analysis of MSIG Mingtai to Material Climate |
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| Note: Asset loss rate is calculated as the ratio of loss amount to the book value as of the baseline date. |
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| Unit: NTD 100 million |
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Risk Management, Indicator and Targets – Capturing and Managing Climate Risks |
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| Implementation of climate risk identification process.
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Climate risk resilience assessment.
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Climate change risk responses are incorporated into underwriting guidelines. | Complete “Mingtai Sustainable Finance Development Indicators”.
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Fair Hospitality
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Promoting Organizations of Fair Hospitality |
| Organization for Promoting Fair Customer Treatment |
| The Principle of Treat Clients Fairly Implementation Team promotes the ten core principles through systematic planning and execution. The implementation team conducts in-depth root cause analysis of operational risks and customer complaints, formulates concrete countermeasures, and establishes a comprehensive tracking and management system, practical case reviews, training programs, and preventive education are conducted to reinforce internal awareness. Finally, regular reporting to the Board of Directors to format a continuous cycle that fosters a customer first corporate culture. |
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More Fair Hospitality Promotion and Implementation
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Implementation Results of Fair Hospitality |
| At MSIG Mingtai, “Customer First” is the core value driving customer service. Feedback from clients serves as the primary force behind continuous improvement. Over the past six years, MSIG Mingtai has been recognized as an outstanding performer in the Treat Clients Fairly Assessment on four occasions. |
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More Fair Hospitality Implementation Results
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Fraud Prevention Measures |
MSIG Mingtai has implemented a comprehensive set of indicators and systems to assess potential risk indicators in claims, aiming to prevent losses from fraudulent claims and effectively protect the rights of honest customers. Key measures include：
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Friendly Financing Services |
MSIG Mingtai has implemented friendly financing services to ensure that the elderly and physically and mentally disabilities have the basic rights, equality, and reasonable and convenient friendly financing services, as well as to provide the elderly and physically and mentally disabilities with access to barrier-free financial services.
More Friendly Financing and Quality Services
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Provide Diversified Communication and Complaint Channels for Customers. |
MSIG Mingtai recognizes the importance of feedback from each stakeholder. We provide multiple channels of communication, a convenient complaint process, and a dedicated 0800-099-080 hotline to handle complaints or disputes.
Talent Cultivation and Development
In 2024, MSIG mingtai invest approximately $5.7 million in training, which can be used for online courses, new employee training, executive training courses, overseas training provided by external professional organizations or parent company, as well as language courses and master’s degree programs.
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Elite Talent Development Program |
In its commitment to cultivating talent, MSIG Mingtai continues to enhance and innovate its training programs by integrating global trends—such as artificial intelligence (AI) and environmental, social, and governance (ESG) topics—while actively listening to internal employee needs. A diverse range of learning courses is regularly developed and promoted. MSIG Mingtai adopts a three-tiered training model to comprehensively strengthen both professional expertise and management capabilities:
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Employee Welfare Policies and Practices |
| 1.”Golden Leave” rule |
| 2.”Honorary Leave” Three additional holidays in the current year for those who are certified as specialist of underwriting or claims of property and casualty insurance . |
| 3.”Volunteer Leave” Encourage colleagues to actively participate in charity activities. |
| 4.”Rooftop Farm” The rooftop of the office is equipped with a farm for staff to plant and harvest. |
| 5.”Physician on-site consultation“,”Annual Health Examination”,”Employee Group Insurance”,”Application for Disaster Subsidy from the Welfare Committee”. |
| 6.”Flexible working hours” option |
| 7.”Happiness Bar” provides a variety of snacks and drinks for colleagues to enjoy. |
| 8.”Professional Examination Subsidy Award“,”Parenting Subsidy”,”On-the-job Training Subsidy” and “Other Subsidy”. |
| 9.”Application for Voluntary Change of Employee’s Duties“,”Employee Turn to Marketing Specialist After Retirement” and other benefits and measures that outperform regulations or the industry. |
Social Care
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School Safety Initiatives |
MSIG Mingtai has been underwriting the “Public Accident Insurance for Senior High School, Junior high School and Elementary School” for a long time, and is committed to promoting damage prevention, hoping to minimize the chance of accidents and reduce the possibility of accidental injuries to school children by raising the risk awareness of school children and faculty.
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▲ MSIG Mingtai staff conducting on-site survey and inspection |
▲ Students at Chang-An Elementary School in Taipei City learning safety concepts through “Fire Safety Stacking Game” game-based education |
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Traffic Safety Initiatives |
In order to cultivate drivers’ awareness and behavior of “safe driving”, MSIG Mingtai has introduced “Safe Driving Hazard Prediction Scenario Training” and “Driving Aptitude Diagnostic Simulator”. In addition, the company has combined the resources of the MS&AD Group and collaborate with the Taiwan Insurance Institute to promote the sponsorship of traffic safety research scholarships, and supports shared transportation services in rural areas in order to implement “justice of the road”.
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| ▲ Campus Safe Driving Simulation Photos | ▲ 2024 Research Sharing Session and Award Ceremony held at MSIG Mingtai Headquarters |
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Sports Support and Charity Participation |
MSIG Mingtai has long been a dedicated supporter of various sports activities in Taiwan, including the Chinese Professional Baseball League (CPBL), road races, the Olympic Games, and the Asian Games. Committed to promoting the development of sports nationwide, MSIG Mingtai became the first non-life insurance company in the industry to underwrite “Athlete Group Injury Insurance,” enabling athletes to train and compete with peace of mind.
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| ▲ 2024 MSIG Mingtai CPBL Annual Awards Ceremony |
Governance Framework
Adhering to the business philosophy of “pursuing sustainable development and enhancing corporate value.” MSIG Mingtai establishes high-standard corporate governance and related regulations. Through the sound and effective operation of the Board of Directors and various functional committees, supplemented by the internal audit unit’s inspection and supervision of the internal control system, MSIG Mingtai promotes corporate governance matters. The company proactively communicates with stakeholders, properly addresses significant issues of concern to stakeholders, and proposes solutions.
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Corporate governance framework |
According to the organizational regulations of MSIG Mingtai Company, the Board of Directors has established six functional committees: the Audit Committee, the Executive Management Committee, the Risk Management Committee, the Investment Committee, the Information Committee, and the Sustainability Committee. The members and responsibilities of each committee are handled in accordance with the organizational regulations of each committee, and they each report regularly to the Board of Directors. For more detailed information on corporate governance, please refer to MSIG Mingtai Information Publicly .
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Shareholding structure |
MSIG Mingtai is 100% owned by its sole corporate shareholder, Mitsui Sumitomo Insurance Company, Limited. All necessary information is reported to the corporate shareholder in accordance with the rules and regulations. The authorities and duties of Board of Shareholders of MSIG Mingtai shall be exerted by Board of Directors in accordance with the law.
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Composition of the Board of Directors |
To maintain an appropriate and effective internal control system, ensure efficient supervision of organizational activities, and promote sound corporate management and governance, the company has established a Board of Directors. The Board comprises nine directors, appointed by the group, who possess expertise in insurance, law, finance, accounting, and management (including three independent directors), and is formed in accordance with insurance regulations. The gender composition of the Board includes 2 women and 7 men. In 2023, the company held nine Board meetings.
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Independent Directors’ Email Addresses |
In order to enhance the communication channels between independent directors and their stakeholders, and to facilitate the collection of opinions to strengthen the effectiveness of corporate governance, the independent directors’ e-mail address has been established.
.Kao independent director’s e-mail address：fuyuan.kao@gmail.com
.Chen independent director’s e-mail address：gracechen0162@gmail.com
.Shih independent director’s e-mail address：joanna.shih@prestigelaw.com.tw
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Whistleblowing System |
MSIG Mingtai has a comprehensive whistleblowing system in place. In addition to establishing various reporting channels, internal and external reporting windows, and assigning dedicated personnel (the head of legal compliance at the headquarters) and a dedicated unit (the Investigation Team of the Legal and Compliance Department) to handle cases, the company has also set up a “MSIG Mingtai Violation of Professional Ethics (Dishonest and Illegal Conduct) Reporting System” on its official website, allowing internal and external personnel to report incidents either anonymously or with their names disclosed.
MSIG Mingtai has established a “Whistleblowing System,” which clearly stipulates “Whistleblower Protection and Reward Measures.” The system ensures confidentiality during the investigation of whistleblowing cases and protects the whistleblower’s employment rights. It guarantees that the whistleblower’s work environment will not undergo any adverse changes, nor will the whistleblower face any unfair treatment as a result of their report.
The link to the Whistleblowing System please refer to here.
Reporting Channel
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Risk Management
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Risk Management Policy |
The “Risk Management Policy” serves as the highest risk guidance principle for MSIG Mingtai, supplemented by the “Risk Management Guidelines” for integrated risk management, and further supported by the “Individual Risk Management Procedures” used by each business unit as the basis for executing individual risk management. The Board of Directors is the highest management organization for risk management issues, approving relevant risk management regulations and management objectives, considering capital requirements to allocate resources most effectively, and issuing instructions on other important matters related to risk management.
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Risk Management Committee Organizational Structure |
The Board of Directors establishes a Risk Management Committee, which meets quarterly and is responsible for formulating risk management policies, frameworks, and organizational functions, establishing qualitative and quantitative management standards. The Secretariat regularly reports to the Board of Directors and responds to the Board of Directors on the implementation of risk management in a timely manner. The Chief Risk Officer is responsible for overseeing the company’s overall risk management affairs, ensuring that the company’s operations meet strategic goals, assisting in promoting climate change risk management and Task Force on Climate-related Financial Disclosures (TCFD), and regularly reporting to the management team.
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Risk Management Process |
Information Security
In the digital era of the insurance industry, MSIG Mingtai not only actively enhances its technological service competitiveness but also places great importance on the protection of personal data for every financial consumer and the overall information security of the enterprise, fulfilling the duty of care of a good manager.
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Information Security Organizational Management Structure |
According to the company’s “Information Security Organization Management Measures”, the highest-ranking executive of the Information Committee serves as the chairperson. Under their leadership, a manager at the division head level (or higher) from the Information Technology Department is appointed as the leader of the Information Security Promotion Task Force. This task force is composed of managers from the Information Technology Department, Risk Management Department, and Legal Compliance Department, and reports to the Information Committee on the promotion and operational status of the information security system. In 2023, the Information Committee convened six meetings.
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Key Information Security Protection Measures |
In accordance with the “Financial Cyber Security Strategy 2.0” issued by the Financial Supervisory Commission and the “Cybersecurity Self-Regulatory Guidelines” of the Property and Casualty Insurance Association, we continue to strengthen the company’s internal information security protection capabilities to achieve secure, convenient, and uninterrupted financial services. In addition to continuously completing various information security management systems that meet international standards, we also continue to improve various information security protection operations based on the self-assessment requirements of the Japanese parent company.
