Demonstrates its commitment to advancing a sustainable company by highlighting 2020 sustainability progress in core areas of business, people and community
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Following the recent launch of a new brand identity, Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced the publication of the Company’s 2020 Sustainability Report, “Because we’re all protectors.” The inaugural report details the actions, progress and achievements resulting from the Company’s sustainability strategy.
In 2020, Protective renewed its focus on sustainability, including both Environment, Social and Government (ESG) and Corporate Social Responsibility (CSR) initiatives, and with engagement from top leaders, laid the groundwork to more fully integrate these initiatives into its business.
“Protective has embraced change and thrived throughout our 114-year history. That’s why, since our founding, we have been diligent in building and advancing a sustainable company,” said Scott Adams, Protective Executive Vice President, Corporate Responsibility, Strategy and Innovation. “At Protective, we strive to integrate sustainable practices into our organization because we know that a sustainable business means delivering on our promises to our customers, providing opportunities for continued growth and living out our purpose as protectors.”
The report brings to life Protective’s sustainability strategy, aligned around three primary pillars where Protective has the greatest opportunity for continued growth and impact – areas of business, people and community, with a special feature on diversity and inclusion.
“Protective has always been committed to doing the right thing, and our sustainability strategy is inherently part of who we are,” said Rich Bielen, Protective President and Chief Executive Officer. “At Protective, we are dedicated to serving as protectors of not only our customers but also our business, people and community. It’s why we do what we do: Because we’re all protectors.”
Underscoring Protective’s ongoing commitment to living its values, the Company’s impact in 2020 unfolds on the pages of the report, including the below highlights:
- Business: Paid $5.7 billion in claims to 276,000 customers, including $350 million COVID claims to 4,200 customers, and continued energy saving efforts across its office footprint.
- People: With a focus on supporting employees and serving customers, Protective shifted 95% of its workforce to virtual, while offering 80 additional hours of paid leave for COVID-related issues, increasing personal connection through virtual town halls and coffee chats, and raising its minimum wage to $17.50 (141% higher than federal minimum wage).
- Community: Supported 248 different organizations across Protective’s footprint through virtual volunteering efforts and financial contributions, including $4.5 million in Foundation gifts to advance causes making an impact in the areas of education, economic development, arts and culture, health and the environment.
- Diversity and inclusion: Dedicated 30% of Foundation dollars to causes advancing social equity. The company was also focused on developing a diverse talent pipeline, including a $1 million gift to The University of Alabama Culverhouse College of Business to attract and accept more underrepresented students into business school.
Engage with Protective’s sustainability story by downloading and learning more at Protective.com/sustainability.
About Protective Life Corporation
Founded in 1907, Protective Life Corporation (Protective) is on a mission to help more people achieve protection and security in their lives. Across its life insurance, annuity and asset protection solutions, the Company helps more than 12 million people protect what matters most. Protective’s more than 3,500 employees put people first and deliver on the Company’s promises to customers, partners, colleagues and communities – because we’re all protectors. With a long-term focus, financial stability and commitment to doing the right thing, Protective, a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), has grown to over $130B in assets as of June 30, 2021. Protective is headquartered in Birmingham, Ala., and supported by both robust virtual workforce and core sites in Cincinnati and St. Louis. For more information about Protective, please visit www.protective.com.