Fubon Financial Holdings has drafted a strategy called the "Innovative Finance" program under "Fubon ESG Visioning Project," which is a strategic blueprint formulated based on the UN's sustainable development goals. The primary goals include ending poverty in all its forms everywhere, to ensure healthy lives and promote well-being for all at all ages, and to make cities and human settlements inclusive, safe, resilient and sustainable. The effort focuses on combining innovative projects involving core financial competencies and customer relationship management. The Company works to make social assets more robust, promote a more equitable and inclusive Society, and develop innovative digital products and services, while continuing to optimize four operating keys — customer satisfaction, customer relationship management, product and service liabilities, and mobile services. Those many initiatives along with providing faster, more professional service to customers and creating green value for society and incorporating the results into everyday life will ultimately help Fubon achieve its vision of corporate sustainability.
Establishment of Working Teams
The Innovative Finance strategy is a coordinated effort led by the Customer Care and Social Commitment Teams of the ESG Task Force under the Corporate Governance and Sustainability Committee. The teams consist of the Planning Division of Fubon Financial Holdings and representatives of Fubon subsidiaries. Senior managers of the Planning Division are assigned as the leaders of the two teams. Short-, medium- and long-term strategies and action plans regarding SDGs prepared by subsidiaries are coordinated and monitored regularly in order to enhance Fubon's ESG performance. Meanwhile, the short-, medium- and long-term targets are completed at a steady pace, and a growing number of international standards are adopted.
Formulating Effective Management Policies
- When developing an innovation project that involves core financial competencies, subsidiaries of Fubon Financial Holdings follow the Fubon Financial Holdings Corporate Social Responsibility Best Practice Principles to build inclusive, accessible products and services and to set measurable targets. Action plans and short-, medium- and long-term goals will be implemented and reviewed to ensure satisfactory performance.
- Fubon Financial Holdings has established a financial consumer protection mechanism at the financial holding company level to guide each subsidiary in handling disputes with consumers fairly, reasonably and effectively.
- When launching a new business or financial product or conducting important business activities, including co-marketing, outsourcing, and business collaboration, with another Fubon Financial Holdings subsidiary, Fubon Financial Holdings subsidiaries will complete a legitimacy assessment to ensure compliance. The Fair Dealing Policy and the Fair Dealing Strategy have been established in accordance with the Fair Dealing Principles for Financial Institutions released by the Financial Supervisory Commission.
- Fubon Financial Holdings has established the Guidelines for Advertising Planning and Media Buying at the level of the financial holding company to manage the quality of promotional literature produced by Fubon Financial Holdings and its subsidiaries and ensure the absence of any inappropriate, untrue, or misleading content or any violation of the regulations or self-regulatory guidelines.
- Fubon Financial Holdings has established the Guidelines for Reporting Co-marketing Customer Complaints at the level of the financial holding company to protect consumer rights and explicitly lay out the resolution process and the responsibilities of each subsidiary regarding customer complaints arising from co-marketing activities in order to ensure customer disputes are resolved in a fair, reasonable and timely manner.
Promoting Strong Management Practices
Programs related to the Innovative Finance strategy are required to be proposed and executed in compliance with applicable policies and regulations. A series of management practices have been implemented to ensure effective implementation of ESG management policies, and will be enforced and reinforced on an ongoing basis.
|Management Practices||Results of Fubon Financial Holdings' ESG Policies in 2018|
|Service quality indexes(SQI) Evaluation||
|Service Excellence Network||The Service Excellence Network is designed for internal use and provides a platform on which service innovation projects can be shared by subsidiaries and employees can be recognized for excellent services. This is a place where employees can learn from each other and brainstorm together in order to improve the overall service quality in the organization and to exceed customer expectations and continue to enhance customer satisfaction.|
|Customer Satisfaction and Complaint Mechanism||Disputes involving financial transactions and customer complaints are handled in an appropriate manner in order to protect consumer rights and improve customer satisfaction.
|Providing Training to Sales Agents on ESG Issues||When a new Fubon Life product hits the market, the insurer uses the "products section" of its online mobile office to help sales agents get up to speed on the product. For Fubon Life’s Smart Term Health Insurance targeted at diabetes sufferers, for example, it included an information package that educated the agents on the nature of diabetes and helped them better understand the disease and its potential complications. That helped agents inform customers on prevention and how to manage their health. Fubon Insurance includes briefings on loss control services in orientations for new employees and in annual online courses for sales agents.