Sustainability Report 2020 From CSR to Sustainability Introduction | CSR Report 2020 2
Introduction 4. Our Environment CEO Statement 3 4.1 Climate Change 31 From CSR to Our Approach 4 4.2 Environmental Management 32 Sustainability Governance 5 Sustainability Sustainable Development Goals 6 5. Our Shareholders Admiral’s Covid -19 Response 7 5.1 Shareholder Engagement 36 5.2 Reporting on ESG 37 Admiral is committed to maintaining responsible business practices 1. Our Customers towards all of our stakeholders. In this report, we aim to highlight 1.1 Engaging with Our Customers 9 6. Our Partners our approach to sustainability and detail the key initiatives we have 1.2 Fair Treatment of Our Customers 10 6.1 Responsible Procurement 39 in place. 1.3 How We’ve served Our Customers 12 7. Responsible Business To better highlight our commitments in 2020, we have stepped 2. Our People 7.1 Responsible Investments 41 away from traditional Corporate Social Responsibility Reporting, 2.1 Diversity & Inclusion 16 7.2 Data Protection and Privacy 42 and have moved towards a more comprehensive reporting approach 2.2 Health & Wellbeing 19 7.3 Information Security 43 on sustainability, beginning with this year’s Sustainability Report. 2.3 Staff Learning & Development 21 2.4 Recruitment 23 We are committed to working towards increased transparency and implementing sustainable solutions to address the growing 3. Our Community challenges our communities face and will continue to pursue best 3.1 Long-Term Community Initiatives 25 practice sustainability disclosures and reporting as the landscape 3.2 Promoting Employability in evolves and sustainability frameworks are developed further. Our Communities 28 3.3 International Community Initiatives 29 CEO Statement Introduction | CSR Report 2020 3
An introduction from Milena Mondini, Group CEO & Sustainability Board Representative
As the Sustainability Board In 2020 Admiral remained As we look towards 2021 and Representative, I am delighted a truly great place to work, beyond, in true Admiral fashion, to introduce Admiral’s 2020 with 90% of our employees we will continue to act in the Sustainability Report. In a highlighting this in the latest best interests of all our key 12-month period unlike any GPTW1 survey. We were stakeholders. We will do this by other we’ve seen before; I am also bold in our response to acting according to our purpose truly proud of how Admiral communities, dedicating six as a business to Help more people has acted to deliver the best million pounds through the to look after their future. Always possible outcomes for all our Admiral Covid-19 Support Fund. striving for better, together. stakeholders. The unprecedented nature of I hope you enjoy reading this It is a privilege to lead a 2020 has not distracted us from report. company which, in one of the the significant environmental most challenging periods of challenges faced globally. Milena Mondini de Focatiss our times, supported over Therefore, whilst responding Chief Executive Officer four million of our customers to the pandemic, we also 3 March 2021 through the Admiral Stay-at- continued our journey towards Home refund in the UK and better environmental practices, reduced prices substantially improving our climate risk across operations to reflect the disclosure and mitigating our lower frequency due to less environmental impact. driving during lockdowns.
1 Great Place to Work. Our Approach Introduction | CSR Report 2020 4
Focusing on our Customers Our Approach Putting Customers at the heart of what we do Returned £110m to UK customers in a premium rebate At the heart of Admiral’s commitment to sustainability, and key to our approach, is Valuing our People People who like what they do, do it better our purpose to 'Help more people to look Ranked 14th in the World’s Best Workplace 2020 rankings after their future. Always striving for better, together'. Supporting our Communities Supporting a culture of giving back Integrating responsible are committed to building Dedicated £6m to the Admiral Covid-19 Support Fund business practices has been at sustainable businesses for the core of what we do over the the future which consider the Caring for our Environment years, and we will always strive needs of all our stakeholders. Actively working to reduce our impact to continue to adapt these Joined the Institutional Investors Group on Climate Change practices to meet the changing The global challenges faced in needs of our stakeholders in 2020 have highlighted the need the future. for strong company values that Engaging our Shareholders drive appropriate responses Engaging with shareholders and providing good Admiral’s approach to in times of global crisis. Core shareholder returns sustainability acts as a to Admiral’s response to Strong overall results and sustainable dividend returns framework and reference the Covid -19 pandemic has point through which our been a continued effort to global businesses implement ensure all our stakeholders Working with our Partners appropriate and responsible are adequately supported, Building and maintaining strong relationships practices. We believe this together with a continued Provided financial support to our UK garage repairers framework forms a key part focus on doing the right thing of the Group’s long-term during times of uncertainty. commercial success and Sustainability Governance Introduction | CSR Report 2020 5
Sustainability Governance
Building a sustainable business which drives positive impact for our stakeholders is at the core of who we are, and what we do.
Our Group CEO, Milena Mondini, The Sustainability Working is the appointed Sustainability Group provides updates to our Representative on the Group CEO who is the Group Group Board. Sustainability Representative, as well as to the Group Board. A Sustainability Working Group In addition, various Group was established in 2020 to functions also provide regular provide additional governance updates on Sustainability support around matters related topics to the Group related to ESG. The Working Board to ensure adequate levels Group consists primarily of of oversight into current and members of departments from future initiatives are in place. Investment, Risk, Facilities, and Investor Relations but also actively engages with other departments across the business. Sustainable Development Goals Introduction | CSR Report 2020 6
SDG’s Priority Targets Our Ongoing Contributions Sustainable
Goal 5 (5.5) Ensure women’s full and effective • Signed PWC’s #TechSheCan Charter Development participation and equal opportunities for Gender Equality • Target in place to increase women in executive roles to leadership at all levels of decision making 40% by 2023 in political, economic, and public life. • Signatory of the Women in Finance Charter Goals
(8.6) Substantially reduce the proportion of • Support Cyber College Cymru which aims to create Goal 8 The 17 Sustainable Development Goals youth not in employment, education, or pathways into digital careers Decent Work and (SDGs), adopted in 2015, are part of training. • Employee volunteering with One Million Mentors Economic Growth • Partnership with the Prince’s Trust to deliver skills the United Nations 2030 Agenda for training Sustainable Development. The private sector is expected to contribute towards Goal 10 (10.2) Empower and promote the social, • Our Diversity & Inclusion Forum consists of six working these goals, which cover global issues economic, and political inclusion of all, groups Reduced such as poverty, inequality, and climate irrespective of age, sex, disability, race, • Partnered with Stonewall Cymru and the Social Mobility Inequalities change. Admiral acknowledges the ethnicity, origin, religion or economic or Foundation importance of the SDGs in sustainable other status. • Signed up to the Social Mobility Pledge development. Not all goals directly • Launched unconscious bias training for recruitment staff in 2020 impact the business and operations, and Admiral has thus focused on those Goal 11 (11.2) Provide access to safe, affordable, • Provide insurance cover to both fully electric and hybrid closest to the business, our impact accessible and sustainable transport vehicles Sustainable Cities and current contribution. Admiral will systems for all. • Employee commuting schemes (Bike to Work, Season and Communities continue to focus on further supporting Ticket Loans) the below-mentioned goals, as well as consider how we can impact and Goal 12 (12.6) Encourage companies, especially large • Engaged with multiple ESG indices and transnational companies, to adopt contribute to the wider set of goals. Responsible • Implemented feedback from ESG indices to improve sustainable practices and integrate reporting Consumption and sustainability information into their Production • Received external verification of carbon emissions data reporting cycle. and offset our emissions to become carbon neutral • Enhanced ESG disclosure in Sustainability and Annual Report Admiral’s Covid-19 Response Introduction | CSR Report 2020 7
Admiral’s Covid-19 Response Oct 12th The 5th edition of our internal monthly staff April 26th Aug 12th satisfaction survey results was shared, in it: Responding Announced the to regulatory y 96% of staff April 21st April - Ongoing payment of surveyed noted that guidance we Feb 21st the deferred they were enjoying Admiral’s Stay suspended Actively engaged full year 2019 working from home First case of at Home Refund the full year with our suppliers special dividend y 90% of staff felt Covid-19 detected returned £110m 2019 special to provide financial to shareholders well supported by in Europe to UK customers dividend support their manager
Waived vehicle excess Admiral stay-at- UK Nationwide Admiral set up the Senior Management UK-based staff were charges and provided free home half marathon lockdown Admiral Support Fund held the first ever gifted an additional raised over £32k announced – all replacement vehicles for virtual Staff General 5 days holiday dedicating £6m to to support The UK offices closed key workers Meeting support communities Intensive Care Dec 3rd March 23rd and those in need Provided over 4,000 Society Sep 16th payment holidays to our April 21st loans customers May 28th Extended our travel insurance cover free of charge for customers stuck abroad April - Ongoing 1. Our Customers
93% of our staff believe their department puts the customer at the heart and start of every decision.2
2 Based on our 2020 ServCheck survey results. 1.1 Engaging with Our Customers Our Customers | CSR Report 2020 9
1.1 Engaging with Our Customers
Without our customers we would not have a business – therefore,
Feedback KPIs 2018 2019 20203 we strive to ensure that each of our customers receives the best possible service whenever and however they contact us. Would Buy Again 98% 98% 98%
Customers Happy with their 2020 has reiterated the need customers to buy polices online customer feedback is important, 96% 97% 95% Service for companies to maintain and make a greater range of as it allows us to understand high levels of customer service policy changes digitally. what we are doing well and and this continues to be one enables us to identify the of Admiral’s core focus areas. We continue to explore priority areas for improvement. In response to our continuous opportunities to develop our commitments, we saw a >5% digital channels and adapt Once we have received improvement in NPS scores to the changing needs of our customer feedback, we Facilitating online claims across all markets in 2020. customers. Looking ahead, then seek to improve our we are increasing our level level of customer service by In response to the UK lockdown our Household Claims Customer Communication of investment in this area as acting on this feedback and team directed customers online, increasing online claim we continue to optimise our implementing any necessary As technology continues to registration from 45% to 80% and increasing webchat digital estate and add to our changes. evolve, we have adapted to usage for non-urgent matters by 200%. We continue to digital capabilities. integrate further elements of the claims journey onto ensure we can engage with our customers through a range digital channels, in order to enhance our offering for Customer Feedback customers with an online preference. of different communication channels. This year, we made Providing excellent and ever- webchat more accessible to improving customer service support customers when they continues to be fundamental need us, and we enabled more to us. Therefore, obtaining
3 Based on our UK Reevoo results, 7598 responses received. 1.2 Fair Treatment of Our Customers Our Customers | CSR Report 2020 10
1.2 Fair Treatment of Our Customers
Many departments across Admiral work together to ensure that the needs of our customers are continually met.
During 2020, our facilities been set by the Board, and our for customers and have taken and IT departments have Conduct Risk reporting (CRMI) a fresh look at the role that worked tirelessly to ensure is aligned to these. A Customer Purpose, Leadership, Reward, we remained accessible to and Conduct Committee Governance, Psychological our customers at all times oversees the delivery of fair safety, and Diversity & Inclusion as staff shifted to working customer outcomes, and is play in this. from home. Additionally, supported by a Conduct Risk compliance and internal audit Working Group, which assists Responsible Claims departments ensured that the Committee to discharge Management processes and products were its Conduct Risk oversight Alongside ensuring that reviewed regularly and that responsibilities. In the last 12 claims are managed quickly we continued to maintain a months we have focused on and efficiently, we work hard competitive and fair offering ensuring the suppliers and to ensure appropriate claims for our customers. third parties we work with are practices are in place to deliver aligned to our Conduct fair and just outcomes for our Conduct Risk Risk approach. customers. Claims Quality Fair treatment of customers is Assurance teams are in place to In accordance with the UK one of Admiral’s core values and review, report and support the regulatory focus, we have is supported by our Conduct biggest risks across our also reviewed how Admiral’s Risk Framework. Conduct Risk Claims functions. culture drives fair outcomes appetite and standards have 1.2 Fair Treatment of Our Customers Our Customers | CSR Report 2020 11
Claims Quality Assurance report Vulnerable Customers Admiral is committed to therefore, customers can their findings via CRMI and further strengthening make complaints through In 2020, more customers provide individual feedback and our vulnerable customer various channels, including via required additional support reports across Claims. services in anticipation of the telephone, email and post. due to the impact of the finalised regulatory guidance Covid-19 pandemic. Our This process allows us to on the fair treatment of Our complaint handling guide existing vulnerable customer continually assess and vulnerable customers. is available on the Admiral approach was enhanced, as challenge ourselves to website and this outlines we introduced a specialist achieve the best outcomes Complaints the timeline for dealing with team to support customers for our customers. A Claims complaints in accordance with affordability concerns Admiral encourages all customers Repudiation Working Group with FCA requirements, and and provided refresher to promptly inform us if they are is also in place to ensure that details on escalating claims training for customer support unhappy and we strongly believe appropriate systems and internally and to the Financial staff on how to identify and that complaint handling is an controls exist across our Claims Ombudsman Service. Our support vulnerable customers. invaluable learning tool for the function to manage the risk Customer and Conduct We continue to sit on the continuous improvement of our that customers are unfairly Committee ensures appropriate Association of British Insurers customer service. repudiated. The Working Group complaints handling, which Vulnerable Customers Working recommends improvements includes monitoring complaint Group, to ensure we can We understand that making to control frameworks where volumes and trends, root cause contribute towards shaping the a complaint can be stressful appropriate and remediation analysis and assurance of the way that vulnerable customers and seek to ensure this work to be undertaken control framework. are supported across the process is as straightforward where unfair outcomes have insurance sector. as possible for our customers, been identified.
4 Based on Motor FNOL and Frontline calls. CRMI Report Customer CRMI Report Customer 2017 2018 2019 2020 Target 2017 2018 2019 2020 Target 5 Based on SMS feedback Service Measures Service Measures where customers rate the level of service they received and the handler Claims First Notification Customer Services SMS they interacted with on 9.09 9.05 9.15 9.28 >8.0 a scale of one to ten; the of Loss (FNOL) Call Answer 95.1% 95.5% 95.7% 94.5% >90% Feedback5 score shown is the average Rates4 of these metrics. 1.3 How We’ve Served Our Customers Our Customers | CSR Report 2020 12
2019 20206 1.3 How We’ve Served Our Customers
Alongside one-off initiatives, such as this year’s £110m ‘Stay at Home Refund’ for our UK Motor insurance customers, we have long-standing customer initiatives which seek to measure how our 5000 3800 customers feel about our services, reward staff who perform above Number of Calls Monitored by Senior Managers expectations and make our customers smile.
As a testament to our services, that have helped improve external call monitoring by Admiral UK was named the the customer experience. senior management. Looking 8/10 8/10 2020 Direct to Consumer Cristina also awards the title ahead, the Customer Matters Average Score for an External Monitoring Call Business of the Year in The of Customer Champion to one initiative, a cross departmental Insurance Times Awards. of our customer-facing agents project launched in May who received all 10 out of 10 2019 that involves over 3,500 Cristina’s Customer scores on their SMS feedback employees and focuses Commentaries questions. on improving customer Through this initiative, our UK interactions across our Kudos CEO Cristina Nestares shares customer-facing departments, a monthly commentary that Kudos is a customer experience will be formally merged into covers all things customer measurement programme used the Kudos programme from related. This commentary across all our customer facing 2021 onwards. usually includes examples of contact centres, which focuses 41.5% 45% great customer service and on three key customer impact % of Kudos Calls Scoring a 9 or 10 outlines the process changes areas: average speed of answer, across our departments customer SMS feedback and
6 Kudos paused in April and May due to Covid-19 disruptions. 1.3 How We’ve Served Our Customers Our Customers | CSR Report 2020 13
Above and Beyond Customer Care Hearts Campaign This New Business department initiative encourages agents to In Customer Care, a heart nominate customers who they is gained when a customer feel are deserving of a special gives an agent a score of 8 surprise. Across 2020 we sent or higher via SMS feedback. 204 surprises to our customers, After an initial commitment to up from 170 during 2019. These reach 100,000 hearts in 2018, surprises included vouchers the Customer Care Hearts for online shopping, chocolate Campaign continues to grow brownies, tea and cake and remains an important hampers, chocolate truffles, customer-driven initiative. and dog treats. New Business also ran a key worker special, inviting agents to nominate our customers from across the UK who are frontline heroes, so we could personally thank them for their efforts.
Hearts Received by Customer Care Agents7
2018 2019 2020 102,132 229,687 290,838
7 Rolling total. 2. Our People
96% of our staff believe that Admiral is a friendly place to work.8
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8 Based on group-wide results for the 2021 Great Place to Work Survey, data surveyed in 2020. 2 Our People Our People | CSR Report 2020 15
2 Our People
At the heart of Admiral’s success lies a deeply embedded people-driven culture, creating an environment where staff feel both supported and motivated to work every day.
As responsible employers we strive to create an inclusive working environment wherever possible, as is underpinned by our four people pillars: Communication – Equality – Reward and Recognition – Fun.
Our achievements 14th Best Workplace in the World, 25 World's Best Workplaces Communication Equality 4th Best Super Large Workplace in the UK, Great Place to Work Institute Lifetime Masters Award, Great Place to Work Institute 3rd Best Big Company to Work For in the UK, Reward and Recognition Fun The Sunday Times 2.1 Diversity & Inclusion Our People | CSR Report 2020 16
2.1 Diversity & Inclusion
Our staff represent people of all genders, sexual orientation and ethnicities and we are always working towards improved representation throughout our business.
Monitoring Diversity Diversity initiatives such as Unconscious bias training the Inclusive Behaviours in was rolled out across our UK Our commitment to protecting Insurance Pledge are signed operations for our recruiters and maintaining a diverse at CEO level. Details regarding and trainers to ensure that workplace is overseen by the Admiral Group’s approach to recruitment processes Diversity and Inclusion Forum. diversity are available for staff remain fair and equitable. This forum is headed up by one in our Equality, Diversity and The unconscious bias training of our senior managers and Dignity at Work policy. program is available to all staff consists of six Working Groups, via our iLearn intranet platform. which consider and implement Improving Diversity in The senior management team ways Admiral can better Recruitment across the Group also attended support staff and customers unconscious bias training from diverse backgrounds. In 2020, People Services sessions. Alongside this, we An annual diversity progress management teams across held community open days and report is presented to the the Group launched the collaborated with organisations, Group Board each year and Diversity Project 2020 to review such as the Job Centre, to made publicly available on our measures taken at all levels of provide support and advice to Corporate Website. recruitment, identify areas for improvement and help develop applicants from historically a more diverse workforce across disadvantaged backgrounds. the Admiral Group. 2.1 Diversity & Inclusion Our People | CSR Report 2020 17
Training & Mentoring Additionally, The Social Mobility This follows our previous Working Group embarked on signatory commitment to the The Diversity & Inclusion initiatives such as mentoring Women in Finance Charter and Working Groups meet regularly young people from socially the Insurance Inclusion Pledge. and provide pragmatic support disadvantaged backgrounds, In line with commitments set to the business through providing work experience by the BAME Working Group, sharing expertise, giving and internships, and arranging Admiral signed up to the advice, providing training and a professional ‘career speed- Business in the Community facilitating opportunities dating’ event, to help young Race at Work Charter to ensure that help Admiral become an people expand their business we are tackling the barriers inclusive and diverse business networks. Admiral has also facing people who are part of for all. signed up to the Social an ethnic minority, and that Mobility Pledge. our organisation is racially In 2020, the BAME Working representative of British Group reviewed the Going Beyond the Legal society. management training syllabus Requirements to ensure unconscious bias Partnerships are in place was sufficiently covered. A new As part of our commitment with organisations such as people policy, supporting trans to diversity & inclusion, we Stonewall Cymru and the Social staff, was accompanied by a continuously strive to improve Mobility Foundation, the latter manager training programme our workplace beyond legal which aims to make practical to help them better support requirements. This year, the improvements in social colleagues who are going Gender Working Group signed mobility for young people from through a gender transition. up to PWC’s #TechSheCan disadvantaged backgrounds. charter to increase the number of women working in technology roles in the UK. 2.1 Diversity & Inclusion Our People | CSR Report 2020 18
Board Diversity Diversity Data
Admiral Group supports We pride ourselves on having the principle of boardroom a diverse group of staff across diversity and inclusion and the Admiral. Included in this report promotion of a diverse board are highlights of our diversity People from 57 different 6.9% composition. We are proud to metrics, further detail on our nationalities work in our UK of our employees be one of the few companies in diversity performance can offices have BAME backgrounds the FTSE100 with both a female be found in the 2020 annual chair and Group CEO and we diversity report, available on aim to maintain a minimum of the corporate website. 33% of Group Board members as women. In addition, in 2020, we met a key recommendation of the Parker Review that each FTSE 100 board should More than 50% of 42% have one director of ethnic our staff are now over of Admiral Group minority background by 2021. 31 years old Board are women9 We currently have one board member of ethnic minority background, Jayaprakasa Rangaswani, a Non-Executive Director who joined the Admiral Group Board in April 2020.
9% of our employees 6% of employees identify as LGBTQ+ consider themselves to have a disability or long-term condition
9 45.5% as of 11th January 2021. 2.2 Health & Wellbeing Our People | CSR Report 2020 19
2.2 Health & Wellbeing
The Health, wellbeing and safety of staff is of paramount importance to our business. Initiatives such as the Ministry of Health form a key part of the ways in which we continue to build a work environment where all staff feel safe and comfortable, whether virtually or in our offices.
Mental Health Support As staff shifted to working from Our initiatives are constantly home during the lockdown, reviewed and improved, with Admiral’s approach to Admiral held regular surveys support from the People providing a safe and inclusive to monitor staff wellbeing and Services department which environment is based on: used this feedback to adapt and runs a dedicated Ministry of y Promoting an open support staff as needed. All staff Health Forum tasked with communication culture have access to the Employee promoting a high quality of y Monitoring and controlling Assistance programme and health in the workplace. our working environment E-care, which was extended to all members of a staff’s y Providing relevant health & household in 2020. To help Quick Fact wellbeing training to all staff protect the mental health of our Over 1700 UK staff y Providing access to staff, the Admiral Academy and have attended internal confidential support options. Ministry of Health developed mindfulness meditation an iLearn course, which offered Admiral actively implements sessions in 2020. staff tips and solutions during steps to identify staff who the lockdown periods. may be considered vulnerable and puts them in touch with assigned PS executives to ensure they receive the necessary support. 2.2 Health & Wellbeing Our People | CSR Report 2020 20
Flexible Working be a need to adjust an covering all employees, this Solutions individual’s workload due to includes support for medical caring responsibilities or appointments, buy-a-book Admiral is open to agile working transport issues. schemes, company support arrangements for staff and the for dependent care through shift to working from home Examples of initiatives that cooperation with local childcare during the Covid-19 pandemic promote flexibility include facilities and a wide variety of has refreshed our approach to working from home, part-time leave opportunities. review and provide optimal and hours, compressed hours, job flexible working arrangements sharing, and 'My Time,' a scheme These leave options often go for our staff. that allows staff to take three beyond legal requirements additional days of unpaid leave and include: To ensure a successful each year if they wish. transition to homeworking, y Maternity/Paternity leave Admiral has embraced a Smart Employee Benefits y Dependent care leave Working Approach built on four y Care leave pillars: Smart People, Smart An important part of Admiral’s Technology, Smart Spaces and core benefits program is the y Career break leave Smart Business Practices. For Group’s share scheme. All staff y Compassionate leave further detail, please refer to who have been fully employed the 2020 Annual Report. for one year receive shares (pro- y Emergency leave rata for part time staff) through y Charity leave All UK-based employees have our Approved Free Share Plan y Covid-19 leave. 10 the statutory right to request (SIP). Some management flexible working for any reason. staff additionally receive Short term changes of working shares through a discretionary pattern, without a reduction free share scheme (DFSS). In in hours, can be agreed with addition, Admiral has a wide managers, where there may range of non-salary benefits
10 During the initial lockdown phase employees could take a ‘Covid-19 unavailable to work break’; this was agreed on 80% pay. 2.3 Staff Learning & Development Our People | CSR Report 2020 21
2.3 Staff Learning & Development
Future success relies on our ability to develop and retain our employees. Training and Development forms an important part of our culture and ensures we can continue to be successful in the future.
Talent Development Staff Training Plans & Our tailored approach allows Development Strategy us to keep, strengthen or The Admiral Academy is remove programmes whenever Admiral’s central training team Each department in Admiral this is necessary. Furthermore, and offers support, learning sets individual training plans all staff participate in annual opportunities and career advice for staff annually based on the performance reviews, which is to all employees. It is composed strategic needs of the business. an opportunity to discuss their of professionals and trainers When a new member of staff performance over the year and from across the Group, who are joins Admiral, they are given any additional training needs on hand to offer a prospectus comprehensive induction they may benefit from. of training programmes and training that covers both core standalone courses. The topics such as Compliance and Academy is an accredited Data Protection, and relevant Institute of Leadership and material tailored to their role. Admiral Graduate Programme Management (ILM) centre, Some departments will offer which provides nationally additional bespoke training In 2020 we were named as a top graduate employer in the recognised management to enhance the development Sunday Times Top 100 UK Graduate Employers list. This is qualifications to employees. of managers within their the second consecutive year we have made the list and we departments. Feedback is placed 79th (up from 96th in 2019). We are also the only regularly collected at the end company headquartered in Wales to make the list. of each initiative to measure its effectiveness. 2.3 Staff Learning & Development Our People | CSR Report 2020 22
Training & Development Management Training Further training needs are assessed based on the Admiral adopts a bespoke responses received. approach to management development to continuously Educational support ensure training is tailored in line with strategic business We encourage our staff to priorities. Senior managers study for qualifications that are offered individualised are relevant to their role. 38 hours 25 hours coaching sessions through a Anyone employed by Admiral average training time average training time on a full time or part time per frontline staff per frontline Team mix of internal and external (2020) Manager (2020) providers and further executive basis, that has passed their education in areas such as probationary period, can apply negotiation, communication, for educational sponsorship, and leadership from top regardless of their level within business school courses. the organisation. Staff have Technical training and utilised this to complete a qualifications are also made wide range of qualifications, 250,000+ 39 ILM qualifications available for management to including accountancy and Number of online received by keep up to date with the latest marketing qualifications, a courses completed employees in 2020 developments in specific fields, Bachelor of Arts in Business such as automation and AI. and a Master of Business Administration (MBA). To understand training benefits, we use a self-evaluation approach, asking managers to evaluate themselves at the end of each training programme to determine if they have reached 24 hours 50 hours a level of comfortability in the average training time average training time per employee per employee relevant topics covered. (2020) (2020) 2.4 Recruitment Our People | CSR Report 2020 23
2.4 Recruitment
Recruiting people whose values closely align with our own, has been, and continues to be, crucial in maintaining Admiral’s unique culture.
36% Strategic Workforce Recruitment Initiatives of open UK positions Planning were filled by internal Covid-19 has had a large candidates in 2020 Recruitment programmes are impact on the recruitment aligned to strategic business industry as a large proportion needs to ensure that skills of employers have had to put requirements are met. As their recruitment on hold. As we move to an increasingly a response to the pandemic, digitalised world, particular we adapted our end-to-end emphasis has been put on recruitment process to become information technology (IT) 100% remote, re-launched our and analyst recruitment. MBA recruitment process and Admiral adopts a flexible improved our online recruitment We’ve seen a 70% approach to recruitment as presence. Additionally, this year, increase in applications per vacancy in our business events such as the Covid-19 we launched three internal support functions since pandemic highlight the need training schemes in our UK the onset of the Covid-19 for adaptability in response offices (the Talent Agility pandemic to disruption. Continuous Programme, Digital Scheme and reviews are in place to ensure IT Training Scheme) which were Admiral can continue to attract all recruited 100% remotely, talented staff and mitigate the with training and placements risk of skills shortages. also undertaken remotely. 2.4 Recruitment Our Community | CSR Report 2020 24
3. Our Community
91% of our staff feel good about the ways in which we contribute to our community. 11
11 Based on group-wide results for the 2021 Great Place to Work Survey, data surveyed in 2020. 3.1 Long-Term Community Initiatives Our Community | CSR Report 2020 25
3.1 Long-Term Community Initiatives
Engaging with our local communities has been a crucial part of Admiral’s culture since 1993.
Our objectives are focused We contribute to around 350 on supporting the local different organisations each year communities in which we are through this fund, supporting based and supporting the small community projects and charities and organisations encouraging staff involvement in 2010 directly connected with our the community. The Community £60K employees. As we develop our Chest budget for 2020 was existing community initiatives, £130,000 and throughout we continue to explore new 2020, the Admiral Community ways of generating meaningful Chest supported a wide 2015 community impact across range of community projects, £100K our operations. including helping charities adapt to Covid-19 and providing Community Chest equipment to local schools.
The Admiral Community Chest 2020 is a fund that provides financial Quick Fact £130K support to staff directly £1.1m Community Chest involved with local charities and Budget over the last 10 Community Chest organisations and which has years. been running since 1998. Budget Development 3.1 Long-Term Community Initiatives Our Community | CSR Report 2020 26
Ministry of Giving Maggie’s Royal Voluntary Service
In 2018, Admiral committed Supporting cancer care facilities Improving the lives of vulnerable £400,000 to fund four charity and charities elderly people projects in South Wales across 2020 Progress: The Covid-19 2020 Progress: Due to Covid-19, 2019/20, with the charities pandemic has led to increased the community engagement chosen via an employee vote. uncertainty, delayed diagnoses and development worker As part of the Admiral Support and additional distress for many recruited last year is currently Fund, we committed an people fighting against cancer. part of the NHS Volunteer additional £25,000 to each of Therefore, in such uncertain Responders scheme. RVS our chosen charity partners to times, the professional help continue to support those further support them through provided by Maggie’s clinical relying on them through this challenging period. psychologists in Swansea and companionship calls, patient Cardiff has become even more transport services, shopping Wooden Spoon essential. and prescription deliveries and Brightening the lives of children stimulating online content to with life limiting illnesses Llamau keep people connected. 2020 Progress: Wooden Spoon Supporting young people at risk funded a project to build a of homelessness playground for a school that 2020 Progress: Throughout the supports children with a Covid-19 pandemic, Llamau range of mental and physical utilised technology to continue disabilities. The playground working with learners remotely was designed to improve the and posted learning materials physical health, communication to those without internet skills and mental wellbeing of access. Llamau supported the pupils. learners in their evaluation of potential routes into further learning, employment and volunteering. 3.1 Long-Term Community Initiatives Our Community | CSR Report 2020 27
Festival of Sport Pride Cymru
This community festival Since partnering with Pride provides children with Cymru for the first time in disabilities an opportunity to 2000, our partnership has gone get involved with a variety of from strength to strength. sports, activities, and games. This year, we continued our For over 15 years, Admiral has long-standing partnership provided financial assistance by sponsoring Pride Cymru’s and hundreds of employee Big Online Week, a digital volunteers to help facilitate celebration of LGBTQ+ equality this annual event. Although and diversity across Wales. the 2020 festival was cancelled As part of our support for due to Covid-19, Admiral made Pride, Admiral Academy and a financial donation to the the PRIDE network hosted event organisers, which was a webinar with panellists used to provide gift bags to from Stonewall Cymru, Pride all children who were planning Cymru, Principality and Admiral on attending the festival. discussing the meaning of Pride These gift bags contained and its continued importance sports equipment and festival in 2020. t-shirts ready for 2021, when it is hoped this important community festival will take place once again. 3.2 Promoting Employability in Our Communities Our Community | CSR Report 2020 28
3.2 Promoting Employability in Our Communities
As a large employer across a number of countries, we believe it is our responsibility to provide employment opportunities for those in the local areas in which we operate.
One Million Mentors employability talks during by trainers from the Admiral partners, and the University of 2020 was halted by Covid-19. Academy, involved emotional South Wales, under the Welsh One Million Mentors is an As a temporary alternative, we intelligence training, structured Government’s Strategic Insight independent charity that created a tailor-made YouTube sessions on CV writing and Programme. In September, two aims to connect mentors with video and sent this out to mock interview exercises. As student cohorts began their young people to increase youth local schools, in order to give part of this programme learners studies at Bridgend College and employability, accelerate social students an insight into Admiral were given an opportunity to Coleg Gwent, with students mobility and enable young and the insurance industry. complete their ILM Level 2 set to receive a BTEC Extended people to reach their full qualifications, an externally Diploma after completing the potential. Admiral employees The Prince’s Trust recognised leadership and two-year course. Alongside volunteer as mentors through management qualification fully helping to shape the curriculum, this initiative. Admiral has worked with The Prince’s Trust on a range of funded by Admiral. Admiral will provide mentoring Cardiff Commitment different initiatives since for students, deliver guest Cyber College Cymru 2009. This year, the ‘Get into lectures, and offer work After pledging to support the Customer Services Admiral’ This new initiative is focused placements. Cardiff Commitment, which initiative aimed to provide a on creating pathways into aims to help young people from cohort of 18 learners with skills digital careers for those with various social backgrounds that could help them access a passion for technology. The enter employment, our ability employment. This two-week curriculum has been developed to visit schools and deliver programme, delivered virtually with help from Admiral, other 3.3 International Community Initiatives Our Community | CSR Report 2020 29
3.3 International Community Initiatives
In Spain, Admiral Seguros, Successful candidates are "Alongside the actively supported Women’s employed by GEIQ on a fixed- Lab, a training programme for term contract and available to Group’s UK operations, unemployed women who are work for L’Olivier during this at risk of social exclusion. This period, with potential for a training programme involves permanent role. our international a 15-hour online course, including exercises on interview In Italy, ConTe’s senior managers 2020 operations also preparation and verbal and non- volunteered mentoring hours to €87k verbal communication skills, support the development paths which aims to facilitate access of women who are preparing took part in several to employment. for executive manager roles. Additionally, ConTe participated 2020 initiatives throughout In France, L’Olivier partnered in inter-company round tables €65k with ‘GEIQ Emploi et Handicap’, to share the experience of ConTe the year which aim to an organisation that aims to female managers with young integrate individuals with women new to the workforce, disabilities into participating particularly supporting their 2020 drive a positive impact companies. development in technology- $5k related fields. in their communities." ConTe (Italy), Admiral Seguros (Spain) and Elephant (US) all donated to their community 4. Our Environment
91% of staff believe we care about our impact on the environment.12
12 Based on group-wide results for the 2021 Great Place to Work Survey, data surveyed in 2020. 4.1 Climate Change Our Environment | CSR Report 2020 31
4.1 Climate Change
"The Admiral Group Climate change risks Our commitment to disclose Investing in a low-carbon & opportunities in line with TCFD requirements future aims to provide better Admiral acknowledges the In 2019, Admiral Group Board is mindful that it transparency around the ways reality of climate change and implemented a Responsible in which climate change will the growing risks our society Investment policy to improve is increasingly important impact Admiral Group now faces if we do not play a role the means by which we can and in the future. In 2020 we in mitigating our impact on leverage our position as a large to demonstrate have increased our disclosure the environment around us. institutional investor towards to further align our reporting We recognise the risks of supporting a transition to a with the TCFD’s published responsible business inaction and the impact on our low carbon economy. In 2020 recommendations around stakeholders if we do not play a we became a member of the governance, risk management, behaviour with regards part supporting the transition Institutional Investors Group strategy, metrics, and targets. to a greener future. In 2019, a on Climate Change (IIGCC) For further detail around our Climate-Change Related Risks as we look to adopt formal to the environment." expanded TCFD disclosure, (CCRR) project was initiated carbon intensity reduction please refer to the 2020 and Admiral began to report in targets and align ourselves Annual Report. line with requirements set out to the goals of the 2015 Paris by the Task Force on Climate- Agreement. A full summary related Financial Disclosures of our 2020 progress and (TCFD). 2021 Responsible Investment ambitions is available in section 7.1 of this report. 4.2 Environmental Management Our Environment | CSR Report 2020 32
4.2 Environmental Management
We continuously aim to reduce our environmental footprint and encourage responsible behaviour across our operations.
Alongside our commitment to Energy to stop excessive use and flood reduce our emissions, Admiral control. Similar technology Our Cardiff offices (including the became a carbon neutral solutions to minimise water Group headquarters Ty Admiral) business in 2020 through wastage are in place across our and Newport offices are rated offsetting our verified carbon operations. BREEAM Excellent for exceeding emissions. sustainability benchmarks above Paper regulatory requirements. Since Environmental impact of 2015 all electricity that we have The increasing transition our operations purchased in the UK is from towards digitalisation, Between 2019 and 2020, the 100% renewable sources. Solar largely driven by shifts to overall Group CO2 emissions panels have also been installed homeworking in 2020, is decreased by 47% and our on the Cardiff and Newport expected to help continue emissions per employee offices to provide direct solar to drive a reduction in paper decreased by 42% in the powered electricity to our usage going forward. Initiatives same period. This decrease operations. such as offering customers the in emissions output is largely option to access their policy a reflection of the shift to Water documents online rather than homeworking due to the via the post, and relying on Our building operations Covid-19 pandemic. The emission recycled printer paper in our incorporate smart technology levels of our building operations offices, form additional means to reduce any unnecessary and travel are expected to by which we work to reduce water usage in our offices. Our remain low in 2021 as pandemic- paper waste. headquarters, Ty Admiral, relies related uncertainties remain. on electronic sensor driven taps 4.2 Environmental Management Our Environment | CSR Report 2020 33
Reducing impact Waste Admiral also provided financial support to parts of South through digital We actively work to reduce Wales which were impacted solutions waste wherever possible and by strong flooding in February Digital customer solutions encourage staff to recycle through local community increasingly enable us to across our building operations. donations totalling £50,000. improve our customer In the UK, 100% of our non- Staff were invited to nominate proposition whilst reducing our recyclable waste is sent to local organisations that needed impact on the environment. an incinerator where it is funding, with grants of up to In our Spanish insurance converted into energy. £2,500 per organisation chosen. operation, Admiral Seguros, initiatives have been Environmental Initiatives implemented such as video-loss Admiral continued to support adjustment processes and geo- environmental focused localization for road assistance. initiatives during the periods of lockdown through initiatives Our Italian insurance operation, such as the bike to work ConTe, similarly incentivises scheme. Over the months of loss adjusters to rely on April to June we saw a 200% digital tools to avoid physical increase in orders compared investigations where possible. to the same period last year ConTe also aims to primarily as staff took advantage of the rely on digital document scheme’s ability to spread the solutions, rather than postal cost of bike purchases over services, by collaborating longer periods of time. with software providers to provide digital alternatives. Combined, these initiatives render customer processes both more efficient and reduce paper waste. 4.2 Environmental Management Our Environment | CSR Report 2020 34
Group carbon emissions Assurance statement Total CO2e (ton) Movement Total Our 2019 Group carbon emissions were verified by Carbon Trust, 13 Type of Emission 2020 2019 an external-third party assurance provider. Based on the work Scope 1 undertaken and evidence provided, no details emerged to suggest Company Van 175 4 171 that information was not provided in accordance with the relevant Gas 430 671 -241 reporting criteria. Air conditioning/refrigeration Total Scope 1 605 675 -70 Scope 2 Geographical breakdown - CO2e (Ton) Purchased electricity 909 1,243 -334 Total Scope 2 – market based 909 1,243 -334 2020 2019 Total Scope 2 – location based - - - UK 728 2433 Scope 3 T&D- electricity 298 367 -69 Spain 184 281 Employee Business Travel US14 - 146 Domestic flight, average class 4 27 -23 Short-haul int. Flight, average passenger (with RF) 45 144 -99 India 606 374 Flights: Long Haul Average Passenger (with RF) 111 1,010 -899 France 24 29 Average car 11 177 -166 Regular Taxi 8 - 8 Halifax 150 135 National rail 19 147 -128 Italy 352 435 International rail - - - Light rail and tram - - - Combined Total 2,043 3,833 London Underground - - - Waste Mix Recycling 3 2 1 CO2e per Employee15 Paper and board: board - - - Paper and board: paper 1 3 -2 2018 2019 2020 EfW 2 5 -3 Landfill - - - 0.39 0.36 0.21 Water Water supply 9 11 -2 Water Treatment 19 22 -3 13 2019 carbon emissions data has been restated to incorporate feedback received from our third-party verification providers, Carbon Trust. Total Scope 3 530 1,915 -1,385 14 In 2019, the US reflect carbon data from Compare.com, as data was not available Combined Total 2,044 3,833 -1,789 from Elephant. In 2020, data was not available from Compare.com or Elephant. This does not materially impact the carbon disclosures for the Group. 15 Average employee number excludes employees from offices for which data could not be collected. 5. Our Shareholders
87% of staff feel management has a clear view of where the organisation is going and how to get there.16
16 Based on group-wide results for the 2020 Great Place to Work Survey, data surveyed in 2020. 5.1 Shareholder Engagement Our Stakeholders | CSR Report 2020 36
5.1 Shareholder Engagement
Admiral Group regularly engages with shareholders through open and transparent dialogue.
Engagement with our Feedback relating to investor investors provides insight meetings, roadshows and KPI: xx Number of Investor into Admiral's strategy and conferences is regularly Relations activities is a mechanism by which we recorded by the Investor undertaken in 2020 receive feedback on relevant Relations team and shared issues, which is shared with with the Board on a management and the Board. continuous basis.
Due to the Covid-19 pandemic, all meetings previously held face-to-face were moved online, but with the support of easily accessible online communication tools, the Group was able to continue its regular shareholder engagement. 5.2 Reporting on ESG Our Stakeholders | CSR Report 2020 37
MSCI 17
In 2020, Admiral Group 5.2 Reporting on ESG received a rating of A (on a scale of AAA-CCC) in the MSCI In 2020, Admiral actively participated ESG Ratings assessment. with a number of key Environment, Social Sustainalytics18 and Governance (ESG) indices to provide In September 2020, Admiral better insight and transparency on our Group received an ESG Risk commitments to ESG best practice. Rating of 20.1 and was assessed by Sustainalytics We received score to be at Medium Risk of improvements across the experiencing material financial indices we interacted with, impacts from ESG factors. continued to enhance ESG ISS reporting and continued actively engaging with our In 2020, Admiral Group stakeholders to address gaps 17 The use by Admiral Group of any MSCI ESG research LLC or its received a D+ ESG rating and highlighted. The Admiral Group affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, was assessed by ISS to be in the service marks or index names herein, do not constitute a Board receives ESG related sponsorship, endorsement, recommendation, or promotion of 4th Decile rank (1-10) relative updates in order to ensure Admiral Group by MSCI. MSCI services and data re the property 19 of MSCI or its information providers, and are provided ‘as-is’ to industry group. appropriate oversight of issues and without warranty. MSCI names and logos are trademarks or and our 2021 ambitions have service marks of MSCI. CDP 18 Copyright ©2020 Sustainalytics. All rights reserved. This report been outlined in page 43 of contains information developed by Sustainalytics (www. this report. Additionally, we sustainalytics.com). Such information and data are proprietary In 2020, Admiral Group of Sustainalytics and/or its third party suppliers (Third Party completed the full CDP are actively looking at ways Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor disclosure. The rating received in which we can improve our an investment advice and are not warranted to be complete, for 2019 activity was C-. sustainability reporting to timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics. provide relevant, accurate com/legal-disclaimers. and comparative ESG metrics 19 A decile rank of 1 indicates high relative performance versus a decile rank of 10 which indicates poor relative performance. externally. 6. Our Partners
89% of staff agree people in Admiral are willing to give extra to get the job done. 20
20 Based on group-wide results for the 2021 Great Place to Work Survey, data surveyed in 2020. 6.1 Responsible Procurement Our Partners | CSR Report 2020 39
Supporting our suppliers over 6.1 Responsible Procurement the lockdown Throughout the summer lockdown period Admiral Admiral’s relationship with its partners forms an integral part ran a series of surveys with our claims supply chain to of the Group’s business model and strategic focus. understand how they were prepared for the lockdown and how we could help them if needed. In response to this, we provided additional cleaning and financial support fees Group Procurement During a tender process, which explains in detail what this to UK garage repairers. This included providing financial practices potential suppliers are required issue means to us as a business, support for courtesy car costs where the repairer has been to complete a due diligence to each of our employees, and The Group Procurement and unable to supply a vehicle, and a financial contribution questionnaire focusing on to everyone as members of our Outsourcing Policy provides for customers unable to return a courtesy car after the following items: Financial community (statements can be the framework and policy their vehicle is repaired. We also ensured that payment Stability, Financial Crime, Conflict found on our corporate website). guidelines at a global level for to suppliers were completed and expedited as fast as of Interest, Modern Slavery, all Admiral Group procurement possible by utilising automation, increasing the volume of Environmental accreditation, Although our operations have activity, with the exception of auto authorised repairs by 10% in Q2 (versus Q1). Information Security, Data a low exposure to modern the placement of reinsurance Protection, Payment Card slavery risk, staff regularly (which is governed by the Industry Data Security Standard, partake in modern slavery Reinsurance Policy). All Admiral where applicable and Customer training to ensure they have Group employees who engage Conduct, where applicable. an appropriate understanding in procurement activity are of modern slavery risks. A risk expected to enhance and Modern Slavery assessment process is also in protect the standing of the place which considers variables Admiral Group, and all its business, maintain the highest such as geographic location and subsidiaries and branches, is standard of integrity in all services being supplied. opposed to the exploitation of our strategic of our business relationships, promote 88% 80% of people in any way and has a and key suppliers have a strategic and key the eradication of unethical zero-tolerance approach towards fully embedded diversity suppliers have an business practice, and ensure Quick Fact and equality policy environmental policy full compliance with laws and modern slavery. Admiral is a signatory to 21 21 regulations. in place in place We publish the annual Admiral the UK Prompt Payment Modern Slavery Statement Code (PPC).
21 Percentage based on strategic and key suppliers of EUI, AFSL and Admiral Pioneer. 7. Responsible Business
92% of staff believe management is honest and ethical in its business practices. 22
22 Based on group-wide results for the 2021 Great Place to Work Survey, data surveyed in 2020. 7.1 Responsible Investments Responsible Business | CSR Report 2020 41
7.1 Responsible Investments
In 2019, Admiral fully integrated a Responsible Investment Policy which is applicable to all investments.
The purpose of the policy is to mitigate Environmental Social and Progress in 2020 formally adopt targets for Governance (ESG) related risks and achieve more sustainable long- reducing carbon intensity y We have continued to term returns. In particular, the policy requires ESG considerations and alignment to the ensure all our asset to be integrated in each step of investment decision-making. This Paris Agreement managers are signatories includes monitoring the ESG risks, reviewing the ESG capabilities of the UN Principles for of external asset managers and consideration of ESG factors on 2021 Priorities Responsible Investment implementing new asset types. The initial focus as we develop (PRI) and thoroughly review y Setting carbon intensity the responsible investment policy requirements has been on the their ESG processes. In reduction targets for the Group’s fixed income mandates. These mandates represent over 2020, all of Admiral’s asset investment portfolio 50% of total assets, with the remainder of the exposure (c.45%) managers scored an A or in cash and money market funds. Requirements of our responsible y Exclusions for climate A+ in relevant responsible investment policy include: change laggards investment categories y Average ESG rating of ‘A’ (MSCI Rating) y Minimum allocations to y We have been challenging securities with clear positive y Minimum average ESG rating requirements in our portfolios (either and engaging with asset impacts (e.g. providing using MSCI or internal asset manager ratings) managers to define climate solutions or progress y No energy firms deriving >10% revenue from coal or tar sands, methodology which will towards the UN Sustainable and no cluster munitions assess our portfolios against Development Goals) the 2015 Paris Agreement y Requested our external asset managers to favour green bonds on climate change when they offer a similar financial profile to other options y We have become a member Quick Fact y Carbon Emissions Intensity (aggregate emissions financed for of the Institutional Investors 100% of funds are every million dollars invested in the companies) below pre- Group on Climate Change managed by signatories to determined benchmark (IIGCC) as we look to the UN PRI. 7.2 Data Protection and Privacy Responsible Business | CSR Report 2020 42
7.2 Data Protection and Privacy
Data plays a critical role in everything that we do and we acknowledge our responsibility as a business to ensure a firm an uncompromising approach to data security.
Data protection We provide annual GDPR We have a publicly facing management training to all employees, privacy notice which data including contractors to ensure subjects are presented with, Admiral Group is committed that all employees that process to read and agree to prior to to the correct, lawful and personal data are aware of their Admiral Group processing any transparent handling of the obligations surrounding data. personal data. Within that personal data that it processes, privacy notice, we explain in line with the General Data protection & instances where personal Data Protection Regulation Third parties data may be shared with Data Protection Day (GDPR). Our approach to data select third parties. Due On January 28th, the UK along with 49 other countries protection is communicated Admiral Group’s Data Protection diligence is also conducted on worldwide observed ‘Data Protection Day’. The aim of Data to all staff through our Group Policy applies to all Admiral suppliers before we engage Protection Day is to educate and inform the public about Data Protection Policy which Group users that have access in a relationship with them, their own data rights as well as giving those who work in the outlines the Group’s obligations to personal data and data which includes specific data field, the opportunity to chat and provide information to regarding the processing of processing systems, and applies protection due diligence. We those who would like to learn more about where, what, how personal data. Continued equally to management, consistently strive to ensure and why data is being processed. To celebrate this day, the compliance of this policy is permanent and temporary staff, third-party contracts are Group Data Protection & Privacy team spent the day talking monitored through regular contractors, partners, robust and inclusive of data to staff informally about how important it is that we all work reviews and audit activities and suppliers. protection clauses. to protect our customer’s data, ways we can ensure that data carried out by the Data is collected and processed within regulatory guidelines and Protection and Privacy Team what the associated risks are when we fail to comply. and the Internal Audit function. 7.3 Information Security Responsible Business | CSR Report 2020 43
7.3 Information Security
"Admiral continuously Risk management system Admiral’s Group information security aligns its practices to works to protect customer, internationally recognised information security and cyber risk management frameworks. Information security risk is managed in line with the Group Enterprise Risk Management Policy. staff and business data Additional Information security policies are in place to ensure that all employees understand their responsibilities when it comes to while fulfilling all information security and we provide all employees and contractors with regular information security training. Information security risk assessments are carried out regularly by the Information Security contractual, regulatory and Teams across the Group and the results are monitored, managed and reported via the appropriate governance fora, based upon the legal obligations." materiality of the risk. 2020 Progress Against Our Priorities CSR Report 2020 44
2020 Progress Against Our Priorities
2019 Target 2020 Progress 2021 Priorities
Customers • Continue to improve our Net Promoter Score • The Admiral stay at home refund returned • Continue to rely on customer feedback to (NPS) £110m to UK customers in response to the improve our customer offering Focusing on our • Continue to improve our digital and automation impact of the Covid-19 pandemic • Continue to grow and improve our digital Customers capabilities • Improved our NPS scores >5% across operations; channels • Continue to improve upon the products and Admiral was named Direct to Consumer Business • Continue to support NHS and Emergency staff services that we offer our customers of the Year in The Insurance Times Awards workers during the Covid-19 pandemic • Continue to ensure appropriate measures are in • Online app registrations doubled and MyAccount • Continue to ensure the fair treatment of all our place to treat customers fairly logins increased by 40% customers
People • Continue to be a great place to work • Made staff learning & development tools fully • Ensure we remain a great place to work for available online homeworking and office-based staff Valuing our People • Continue to train and develop our people • Commit to increase female representation at • 96% of staff believe Admiral Group is a friendly • Continue to implement smart-working solutions executive level to 40% by 2023 place to work for our staff • Maintain a minimum of 33% female • Increased female representation at executive • Increase female representation at executive representation on the Admiral Group Board level to 34% (+2% YoY) level to 40% by 2023 • Female Group Board representation increased to • Maintain a minimum of 33% female 42% 23 representation on the Admiral Group Board
Communities • Complete our commitment to donate £400,000 • Dedicated £6m to the Admiral Support Fund • Continue to support our communities through Engaging with our to fund four charity projects in South Wales over to help those most impacted by the Covid-19 the Admiral Support Fund Communities 2019 & 2020 pandemic • Continue to support our long-term community • Continue to engage with our community • Whilst several of the Ministry of Giving’s charity initiatives • Continue to empower our people to give back to funded projects were paused due to Covid-19, we • Continue to promote employability in our local our local communities dedicated an additional £25,000 to our existing communities charity partners
23 45.5% as of 11th of January 2021. 2020 Progress Against Our Priorities CSR Report 2020 45
2019 Target 2020 Progress 2021 Priorities
Environment • Have our carbon emissions verified by an • Our 2019 carbon emissions data was externally • Implement carbon reduction targets across both external third-party in 2020 verified by Carbon Trust our operations and investment portfolio Acting sustainably • Set Group wide emission targets in 2020 • Large reduction in emissions of our building • Continue to improve emissions data disclosure in for our operations as a result of the shift to line with best practice recommendations Environment • Continue to expect best practice developments and mitigate our impact on the environment homeworking • Develop regular reporting of Key Risk Indicators • Further develop our Group Environmental Policy • We became a carbon neutral business through (KRI) and Key Performance Indicators (KPI) the purchase of carbon credits
Shareholders • Continue to provide robust financial returns • Maintained a strong capital position and • Continue to maintain frequent and open delivered positive results dialogue with our shareholders to fosters long- Interacting with • Ensure the fair treatment of our shareholders • Returned the deferred FY19 special dividend term understanding of the Group’s strategy our Shareholders • Provide accurate and timely information to all our shareholders following the interim 2020 results • Continue to develop our approach to improved • Management attended 13 virtual conferences ESG disclosure in 2020
Partners • Ensure the continued fair treatment of all our • Ran multiple surveys throughout the lockdown • Maintain active and open relationships with all partners period to understand our supply chain partner’s our partners to understand their needs and how Working with our • Maintain solid two-way communication with our needs we can best support them Partners partners • Provided financial support to our UK Garage • Further increase the number of our strategic and Network over the lockdown period key suppliers who have diversity and equality policies, and environmental policies in place