Sustainability
at Vero
At Vero, we take a long-term approach to running our business. We recognise that our growth and success should be sustainable and should also benefit our customers, partners and communities.
As part of Suncorp New Zealand, we have a framework of four key principles to help support our purpose and create a better today for the long term.
We value our responsibility as a corporate global citizen and look for opportunities to advocate for positive change.
Supporting financial resilience in our community
Insurance plays an important role in the financial resilience of New Zealanders.
To support customers affected by the global spread of Covid-19, Vero has established a hardship fund up to $10M. We’re using this fund to offer support options – like premium holidays and discounts – to help customers who are facing financial hardship to keep key insurance cover in place.
In late 2020, Vero launched a pilot car insurance product with Good Shepherd New Zealand. People accessing a Good Shepherd NZ Good Loan to finance a car will have the opportunity to purchase a low-cost, comprehensive car insurance policy as part of this 12-month trial. Drive was carefully designed based on research into the needs of low-income New Zealanders and the trial is the next step to understand whether it will provide genuine value to those excluded from the traditional car insurance market.
Caring for the environment
Vero has made a commitment and is on track to reach its target of a 51% reduction in carbon emissions in our corporate operations by 20301. This includes reducing our consumption of paper by more than 50% and significantly reducing waste to landfill.
We’re transitioning our vehicle fleet to hybrids, and our responsible investment policy supports our commitments to climate action and transition to a low-carbon and resource efficient future
Vero is a member of Trees that Count and to date through this charity has funded the purchase and planting of more than 1200 native trees.
Our people and communities
We support the growth and development of our people with training, capability and career growth opportunities and actively support inclusion and diversity in our workforce.
Through Suncorp New Zealand, our community support includes direct support for our community partners Shine and Good Shepherd, alongside extensive work we are doing in supporting our customers in the moments that matter.
1.Scope 1 are direct emissions from sources owned or controlled by Suncorp (e.g. emissions from manufacturing, burning of diesel fuel in trucks and fleet vehicles). Scope 2 are indirect emissions from Suncorp’s consumption of purchased electricity or other sources of energy generated by another upstream organisation (e.g. electricity purchased from energy companies).
Keep reading
Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life and business that really matter and is not intended to be financial advice. For advice on product suitability, please contact your financial adviser.
