Krungthai-AXA Life Insurance PCL

2023

Top Sustainability Advocates in Asia

Krungthai-AXA Life Insurance PCL

Top Sustainability Advocates in Asia

2023

about Krungthai-AXA Life Insurance PCL

“Sustainability Steward”

Krungthai-AXA Life Insurance PCL. Champions in Sustainability and Stakeholder Engagement for Positive Community Impact

Established in 1997 in the heart of Bangkok, Thailand, Krungthai-AXA Life Insurance Public Company Limited (“KTAXA”) has emerged as a significant player in the insurance industry. With a steadfast commitment to protecting what truly matters, it has become one of Thailand’s leading health and protection insurance providers. 

KTAXA is the result of a successful joint venture between Krungthai Bank PCL, Thailand’s largest state-owned bank, and the AXA Group, a global financial protection and asset management specialist. This partnership has allowed KTAXA to tap into a wealth of expertise and resources, propelling it to the forefront of Thailand’s insurance sector. As a member of the esteemed AXA Group, KTAXA shares a set of core values and commitments that steer its strategic direction. These principles have guided its strategy to become the leading insurance company, offering a diverse range of policies, including Savings & Retirement, Health, Protection and Investment-linked policies. This comprehensive suite of offerings underscores KTAXA’s dedication to meeting the diverse needs of its customers.

The company actively seeks customer input through various channels, adapting its operations and strategies accordingly. KTAXA’s innovative online platform, Emma by AXA, has made it a market leader in customer perception. The company fosters employee engagement and professional development through various means, such as face-to-face meetings, online platforms, and the Hearts in Action Volunteer program. Community engagement is a cornerstone, driven by the philosophy of ‘giving opportunity, not charity.’ Additionally, KTAXA maintains open communication with shareholders, regulators, agents, government departments, and the media, ensuring transparency and collaboration across the board. This comprehensive approach reflects KTAXA’s genuine commitment to the well-being of all its stakeholders.

KTAXA’s sustainability governance, under the AXA Group’s Corporate Responsibility (“CR”) Department, ensures comprehensive integration of sustainability across the organization. The Corporate and Sustainability Committee assists in the Board of Directors oversight, with regular reviews. The chief executive officer (“CEO”), with support from dedicated executives, is ultimately responsible for the CR & Sustainability Program. The company maintains a dedicated CR & Sustainability Department to manage the strategy and budget effectively. This holistic approach underscores KTAXA’s commitment to sustainability, aligning its operations with its core values and purpose: ‘to act for human progress by protecting what matters’.

KTAXA actively manages and mitigates environmental, social, and governance (“ESG”) risks. These risks encompass various aspects, including climate change impacts, environmental management, workplace practices, human rights, anti-bribery and corruption practices, and compliance with relevant laws and regulations. The company has established a risk management framework to identify, measure, manage, monitor, and report on these risks continuously.

In terms of products and services, KTAXA focuses on minimizing its indirect environmental impact and incorporates environmental considerations into product development and investment decisions. The company also practices responsible investing, with investments in green assets and a commitment to divest from carbon-intensive industries.

KTAXA is committed to fostering an inclusive and diverse workplace, offering flexible working hours, family support, and assistance for transgender employees. Initiatives including the Health & Well-being Program, Hearts in Action, and Employee Recognition promote the welfare and engagement of employees. The company actively monitors sustainability key performance indicators. To drive progress and engagement, KTAXA has introduced measures such as an ESG fund plan, CEO-defined ESG objectives, and recognition for high-achieving teams. Educational programs like the Climate Learning course and the Annual Performance Bonus reflect KTAXA’s dedication to sustainability.

As part of the company’s Climate Change season one campaign, the company actively engaged in community campaigns, such as ‘Green Road Good Life’ and ‘Green Food Good Health. KTAXA also focused on reducing its paper usage and used the funds saved to plant over 110,000 trees between 2020-2022. Climate Change season 2 saw KTAXA’s attention turn to Biodiversity to further protect our ecosystem. Through its ‘Save our Sea’ program, the company supported the safe release of baby turtles, helped clean the beaches, and planted over 1,000 mangrove trees to help support the absorption of over 27,000 kg of CO2 per year, in partnership with the local communities.  These initiatives and achievements reinforce KTAXA’s brand promise – ‘Know you Can’!

Share This Story

Leave a Reply

Your email address will not be published. Required fields are marked *

Be Recognised As One Of Asia’s Top Leadership and Sustainability Players