Implementation of CSR Principles in Russian Insurance Business

Ingosstrakh

3. Good Health and Well-Being 4. Quality Education 8. Decent Work and Economic Growth

Overview

We had an opportunity to oversee the implantation of major CSR practices in Russia through the example of a leading insurance company. Ingostrakh is equally concerned with the wellbeing of its employees as well as the sustainability of its business platform and the protection of its clients' interests. The opportunities provided by the company allow younger generations to gain knowledge from the experts in the company through several medium and higher education programs.

Authors

Valeria Smirnova

Valeria Smirnova

Anton Vetrov

Anton Vetrov

Bogdan Ramoshka

Bogdan Ramoshka

Mary Zhuchkina

Mary Zhuchkina

School

The Russian Presidential Academy of National Economy and Public Administration

The Russian Presidential Academy of National Economy and Public Administration

Professor

Natalia Yankovskaya

Natalia Yankovskaya

Innovation

The company's innovations are different practices in the field of medical care of its employees and the area of educational and cultural development. We believe that the general staff of the company was involved in the creation of the innovations.

The original idea was aimed at the rise of an educational level among pupils and students to achieve exceptional results in spreading awareness about the social and ecological issues in our time. Apart from that, a company is strongly concerned with the employees’ health and, that is why, we can see that Ingostrakh has “a corporate VHI program for employees and their relatives, which is implemented based on outpatient services in the 'Bud Zdorov' ("Bless you") network of clinics. The company also conducts annual medical examinations and allocates serious financial and organizational resources to prevent the incidence of Covid-19.”

Implementation of CSR Principles in Russian Insurance Business

Inspiration

The purpose of the innovations was to show that the company is interested in the response to pressing social needs in the fields of education, health improvement, and cultural development. The company is motivated to be beneficial to society in Russia. As was stated in the interview, "Ingosstrakh is actively developing partner discount programs in the interests of its employees, which allow our employees to purchase goods and services of partners at a substantial corporate discount (for example, one can relax in the partner hotel Imeretinsky at discounted prices). To popularize healthy lifestyles and create sports opportunities for employees, the company has six sports areas. Jogging is especially popular with Ingosstrakh employees, our colleagues regularly train and participate in races and marathons. In order to inform Ingosstrakh employees about the available opportunities, the company has a fully-fledged digital environment, an internal corporate portal."

Overall impact

Ingostrakh remains one of the few Russian companies that really strives to follow the main principles of CSR. And it improves the well-being of both the Ingostrakh employees and their families and the other people involved in the programs. The activities may advance the overall educational impact for the youth in the long-term scenario.

Apart from that, it will impact the well-being of its employees as the result of different health programs.

We can hope that employees will feel better and then they will work more efficiently in the long-term.

Business benefit

We believe that thanks to the company's services the employees’ relations inside the company may be positively impacted. This in turn results in higher levels of productivity. The ability to receive insurance and the implementation of measures to prevent the spread of Covid-19 contribute to the preservation of the company's efficiency due to the minimization of the risks of the spread of infection. Due to the employees’ insurance, their productivity will not be strongly affected by medical factors, which also contributes to the preservation of efficiency. The employees’ encouragement to visit health centers through privileged opportunities also intensifies loyalty to the company they work in. It allows to retain the current staff and also to be an attractive workplace for future specialists who are looking for the job.

Social and environmental benefit

The company's innovative activities are directly related to social assistance. Thus, Ingosstrakh provides regular support to public organizations in the field of culture and education. Public educational lectures are held, and among the latest projects that were successfully implemented was the youth ballet program, which provided hundreds of children the opportunity to become part of the Bolshoi Theater. In addition, the health and general well-being of Ingostrakh's employees are considered to be the top priority for the company. That is why the company provides both its workers and their relatives with free healthcare and health-related insurance.

Interview

Victoria Nevskaya, HR-Director

Keep this story going! Share below!

Ingosstrakh

Ingosstrakh

Moscow, RU

Business Website: https://www.ingos.ru/eng/

Year Founded: 1947

Number of Employees: 5001 to 10000

Insurance Public Joint Stock Company (IPJSC) Ingosstrakh has been operating in the international and domestic markets since 1947. During this period, Ingosstrakh turned into the largest insurance company in Russia with an extensive regional network from a modest management department that was part of the USSR Ministry of Finance. Today, it is a universal insurer at the federal level and one of the leaders of the domestic insurance market, both in terms of the volume of insurance premiums and the amount of insurance compensation paid, and in terms of the main balance sheet indicators.