Our Approach to Sustainability

In line with our purpose, we want to ensure that our approach to sustainability is built on the theme of uplifting lives and empowering dreams of our community and stakeholders. We focus on engaging and building strong relationships with the communities that we serve, and creating strategies to uplift the lives of our stakeholders. We believe in monitoring and assessing the quality and environmental impact of Janashakthi operations and services, and are aiming to include our customers and business partners where relevant, and to the extent possible.

  1. At Janashakthi Life, we strive to operate with the highest standards of Corporate Governance and to protect stakeholder interests.

  2. The Company will strive to conduct its activities in accordance with the highest standards of corporate best practice and processes, and in compliance with all applicable local and international regulatory requirements and conventions.

    Our Action – The Group pioneered ISO compliance within the Insurance industry, being the first insurer to do this. The Company is now putting in place a comprehensive disaster recovery and critical process mapping programme that is facilitated by best-in-class external consultants.

  3. The Company will always be conscious of the responsibility we hold for the products and services we offer in the market and hence ensure that the customers are protected and Company decisions and actions do not cause any losses to a customer.

    Our Action – The Company identified the risk associated with introducing investment products that were directly linked to market performance. Given the nature of volatility in Sri Lankan markets as well as low level of knowledge among the majority of population on risks associated market fluctuations, JIPLC has abstained from introducing such products to the market.

    This is associated with the “Precautionary Principle” where the requirement laid out by GRI is that an organisation will not pursue any action that they believe would have a negative impact on the environment or community even though it is not scientifically proven that it will have negative impact.

  4. The Company is committed to transparency and open communication about its environmental and social practices in addition to its economic performance, while promoting the same commitment to transparency and open communication from its partners and customers. In short we pledge as a Company, to “do what we say and say what we do”

    Our Action – A process of translating and simplifying what is by convention a fairly complex and legalistic industry full of clauses and riders, so that customers are aware of the totality of what they can get and what they cannot.

  5. The Company strives to be an employer of choice by providing a safe, secure and nondiscriminatory working environment for its employees whose rights are fully safeguarded and who can have equal opportunity to realise their full potential. The Company will abide by national laws and wherever possible will raise the bar to emulate global best practice, seeking continuous improvement of health and safety in the workplace, as well as ensuring the dignity and welfare of the individual and the community, is at the heart of all we are committed to doing.

    Our Action – We spend over LKR 30 Mn in HRD training and have put in place continuous career path and manpower development taskforces. Best practice and benefit analysis of competitors are tracked and matched and discussed where possible regularly at the corporate management level.

  6. The Group will promote good relationships will all communities of which we are a part and enhance their quality of life and opportunities while respecting people’s culture, ways of life and heritage. We will ensure that gender disparities will be overcome and diversity and inclusivity to be key values that will permeate what we do and what we support.

    Our Action – We promote the inclusion of females at all levels of recruitment and management. A number of practices such as flexi-hours are put in place to support the different requirements of all employees, especially working mothers.

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