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Social Inclusion

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Our global corporate responsibility strategy to foster resilient societies.

Through our Encouraging Future Generations Program, fostering social inclusion of young people is the cornerstone of our Corporate Responsibility Strategy. But it’s also a key aspect of our business. At the Vision Summit 2016 we engaged with 550 diverse stakeholders on the topic, and had the chance to chat with Muhammad Yunus, Nobel Peace Prize Winner, about the future of social inclusion. 

So what exactly is social inclusion?

It is the process and outcome of ensuring “that citizens have the opportunities and resources necessary to participate fully in economic, social and cultural life and to enjoy a standard of living (…)” (European Commission, 2004). This entails having access to the labor market, quality education, and being able to express oneself culturally, as well as many more important capabilities. The opposite is social exclusion, which is linked to a whole host of societal problems, such as increased crime rates and poor health.

Social inclusion not only allows individual citizens to reach their full potential through the fulfilment of these capabilities, but it also benefits society as a whole by fostering resilience. Resilience means the ability to cope with and overcome threats. Through social inclusion, fewer citizens are vulnerable to external risks while societal bonds are stronger.

With the challenges of risks such as climate change, migration, and conflict, resilience is extremely important as it ensures increased stability, both for business and civil society, and being better able to face these challenges. That’s why social inclusion is a key aspect of our Corporate Responsibility Strategy. Through addressing this topic, we actively contribute to the UN Sustainable Development Goals, including Quality Education, Reduced Inequality, and No Poverty.

All along the value chain of our business, we already contribute to social inclusion through our core roles in society as an insurer, investor, and employer.

3 Ways Allianz Facilitates Social Inclusion Along Its Value Chain

1.    Emerging Consumers: We provide insurance across the developing world, allowing farmers and entrepreneurs to take risks, seize opportunities, and prosper. In 2015, we broke through the 50 million mark for customers with micro insurance policies, with 2015 revenues standing at 135.1 million.

2.    Pensions: We offer retirement provision to ensure the economic well-being of people later in life, giving the necessary financial support for their participation in civil society.

3.    As an Employer: We take efforts to ensure the wellbeing and mobility of our employees, and have embraced diversity in the workplace. We ensure employee rights and have fair employment mechanisms to ensure a secure working environment.

However, as part of our aim to be a good corporate citizen, we also strive to go beyond the positives of our day to day roles, and proactively contribute to social inclusion by engaging with society at large. The Encouraging Future Generations Program is the focus of these efforts.

We concentrate on youth because social exclusion is often inter-generational (Eurostat, 2016), and by offering inclusive opportunities to young people we aim to help them reach their full potential, and contribute to long term change.

To do so, we play to our strengths as an insurer and investor, for instance through leveraging the expertise of our employees to educate youth about financial literacy and planning. We also collaborate with others who are experts in the field of social inclusion to ensure we make a meaningful and lasting impact. Our partnerships span the globe, such as our collaboration with SOS Children’s Villages, or are led by local Allianz entities. This has the advantage that we can look to address worldwide problems, but also allow our OEs to set their own priorities, taking into account the needs of the societies they operate in.

How Allianz Facilitates Social Inclusion as a Corporate Citizen:

1.    Care: We support SOS Children’s Villages in their efforts to provide loving homes to orphaned and abandoned children in 125 countries. Through this partnership, we contribute to an Emergency Response Tool that helps people around the world in immediate danger. Additionally we fund various projects which actively aim to increase the wellbeing of disadvantaged youth, and empower them to shape resilient societies through new opportunities. Allianz employees through the Allianz World Run raised 600,000 euros and directly funds 12 international educational projects

2.    Innovate: To seize opportunities, we also have to understand how social innovation can strengthen civil societies – with new concepts that meet the social needs of current and future communities. We do so by encouraging the participation of youth to engage on these topics, and through our Social Tech Seed Fund and our Social Innovation Fund, both of which invest in innovation to foster social inclusion.

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