Sustainability Governance

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  • SUSTAINABILITY FRAMEWORK
  • GOVERNANCE STRUCTURE
  • STAKEHOLDER ENGAGEMENT
  • BUSINESS ETHICS AND COMPLIANCE
Responsible Actions, Sustainable Future

Our overarching sustainability priorities and approach to Economic, Environmental and Social (“EES”) risks and opportunities are defined by our “Responsible Actions, Sustainable Future” approach. This approach further outlines our commitment to be ‘Economically Productive, Environmentally Protective and Socially Proactive’ with respect to people, communities and the environment.

Sustainability Framework

(updated as of Nov 2020)

*Due to health, safety and hygienic concerns to curb the spread of COVID-19 pandemic, GRI 413: Local Communities (under ‘Our People and Community’ pillar) was deprioritised for Y2020.

^For more information about ‘Economic Performance’, click here.

Materiality Matrix

(updated as of Nov 2020)

Our Commitment to Sustainability
 

Our Sustainability journey is supported by our evolving commitments, among others:

  1. Sustainability driven by diversity
    1. Race, religion, background, age, lifestyle, etc;
    2. By 2023:
      1. 50% women in Leadership Team;
      2. 50% critical roles will have successors identified from within;
  2. Commitment to environment
    1. Be a zero-paper organisation i.e. for “in-control” processes by end of 2021;
    2. Be an agile company with digital at the core of what we do.
  3. Review and embed sustainability elements in policies and processes by 2021
  4. Adopt Net Promoter Score (NPS) as a measure of success
  5. Build charity/sustainability elements into our new products

Click on the video to hear more from our Group CEO, Rohit Nambiar.

Tune Protect is a corporate member of 30% Club Malaysia, a business-led campaign that advocates gender parity.
Read more

Our commitment towards ESG is reflected in the continuous improvement of our FTSE4Good ESG Rating and Grading Band.

ESG Rating

3.1 out of 5.0
(as at 21 June 2021)
ESG Grading Band

Top 25% quartile
(as at 21 June 2021)

Sound corporate governance is essential in positioning and prioritising sustainability within an organisation. At Tune Protect, our commitment to sustainability starts at the top, with our Board of Directors (“the Board”) that is committed to provide strategic guidance, oversee the management and uphold our responsibilities to our stakeholders. The Board is accountable for the Group’s sustainability strategy and reviews all major disclosures and key sustainability-related matters.

The Sustainability Committee (“SuCom”) was formally established in 2017 and is chaired by Group Chief Financial Officer. Since its establishment, SuCom is responsible to oversee all sustainability matters and plays a vital role in providing regular feedback and recommendations to the Board, that is ultimately accountable to our stakeholders. SuCom convenes every two months and reports sustainability progress to the Board on a quarterly basis.​ As part of SuCom’s mandate, we review our material sustainability matters on an annual basis and determine if there is a need to conduct a full materiality assessment process.

The Investors Relations and Strategic Projects (“IR&SP”) Department serves as a secretariat for SuCom, a gatekeeper and liaison between SuCom, Sustainability Working Group (“SWG”), and business units. The IR&SP Department manages the overall sustainability performance, including driving initiatives, monitoring deliverables and reporting. It also acts as the central point of contact for external stakeholders such as analysts, investors and media who are keen on gaining more insights and understanding of the Company’s sustainability directions and initiatives. The IR&SP Department actively updates and provides recommendations to SuCom for sound decisions-making or further recommendations to the Board.

SWG supports IR&SP in driving and managing the performance of Sustainability initiatives across the organisation. Meanwhile, Business Units are responsible for data collection for sustainability reporting and the implementation of sustainability-related initiatives.

Read more from our Group Sustainability Policy here.

At Tune Protect, we strive to create a shared value among our shareholders. We regularly engage with our stakeholders to understand and address their evolving priorities. We employ a variety of mechanisms for engagement to gain a holistic picture of the sustainability matters that are of utmost concern to our diverse stakeholders, who comprise of customers, regulators, government bodies, shareholders, investors, analysts, employees, agents and intermediaries, local communities, media and business partners.

Below is a list of our stakeholders and how we engage them.

Stakeholder Group Modes of Engagement Frequency of Engagement
Customers Customer Service Centre Location and operating hours available on the corporate website
Customer satisfaction survey Available immediately to customers who make online purchases through the B2C platform​
Print publications i.e.: newspapers, magazines, etc. As and when
Digital platforms i.e.: Business-to-Consumer (“B2C”) and
Business-to-Business-to-Consumer (“B2B2C”)​
24/7
Social media platforms​ 24/7
Email Weekly
Online survey Annually
Regulators and​ government bodies Regulatory reporting​ Monthly/Quarterly/Annually
Correspondence and monitoring via letters, emails and calls As required
Face-to-face meetings and review Scheduled/Ad-hoc
Online survey Annually
Shareholders,​ investors and​ analysts Annual General Meeting (Annual Reports, Shareholders’ Circulars, Corporate Governance Reports) Annually
Analyst briefings (analyst presentation slides, financial statements, press releases) Quarterly
Regular dialogues (one-on-one and group meetings, conferences, roadshows, Bursa announcements) Ad-hoc basis​
Investor Relations webpage 24/7
Online survey Annually
Employees Code of Conduct Month​ Annually
Internal engagement activities (including town hall meetings, team building, newsfeeds on Workplace @ Facebook, workshops) Quarterly/Periodic​
Performance reviews On-going​
Policies and procedures The Company’s intranet
Online survey Annually
Agents and intermediaries Training and awareness Annually (20 hours)
Awards and recognition Monthly
Annual conventions Annually
Online survey Annually
Local communities Community activities Scheduled/Ad hoc
Community partnerships Scheduled/Ad hoc
Online survey Annually
Media Media engagements As required
Media interviews and press releases Twice per quarter
Company/Corporate events Quarterly
Online survey Annually
​​Business partners Conferences/Roadshows Annually
Meetings (face-to-face and group briefing meetings) Annually
Credit Rating review (press release) Annually
Online survey Annually
Ethical Business

Tune Protect is a financial holding company listed on the Main Market of Bursa Malaysia and complies with the Financial Services Act 2013 under the purview of Bank Negara Malaysia and Bursa Malaysia’s Main Market Listing Requirements. We operate with high integrity, transparency and good business ethics across the organisation.

We have within us a formal Code of Conduct (“CoC”) and various other policies pertaining to conflicts of interest, anti-harassment, equal opportunity and whistleblowing. Read more about our policies here.

​The CoC and Group-wide policies lay the foundation for long-term trusting relationships with our colleagues, customers and partners, our approach to sustainability as well as ensure that we are aligned and working within the same parameters. The CoC covers three aspects:

  1. Respect in Our Workplace that sets out interaction boundaries and hiring best practices at our workplace;
  2. Respect for Our Business Partners which guides us on proper engagement with external parties; and 
  3. Respect for Our Shareholders that summarises our commitment towards ensuring shareholder value.

The CoC demonstrates our commitment to doing business the right and ethical way.

We comply with all applicable laws and regulations in every jurisdiction that we operate in. We have zero tolerance for fraud, corruption and violation of laws and regulations. The tone for adherence on compliance and regulation matters are set right from the top, at the Board.

Compliance and Risk Management

The management of compliance is governed and supported by the Group Compliance Management Framework which is a Board-approved framework that outlines the governance structure and key processes for identification, assessment and monitoring of compliance risks, ensuring compliance with applicable laws and regulations as well as internal policies and procedures. The Compliance Department directs and supports the development of overarching compliance policies and procedures while facilitating the implementation of policies and procedures across the Company. Business units are responsible for the implementation of the CoC as well as regulatory compliance policies and programmes.

Besides that, we have in place a Group Risk Management Framework with the objective of institutionalising vigilance and awareness of the management of risk across the Group. This framework provides a concise and holistic documentary standard as a single point of reference which outlines the broad overarching framework that provides direction for the management of all risk elements that the Group is exposed to. This framework addresses structure, people, policies, processes and activities required for the Company to manage key risks. Mandatory training and assessments for employees in the areas of workplace integrity have been part of our risk management strategy.