The sector's and the Group's positioning
The reputation of the Financial Services sector recorded at the beginning of 2017 places the sector at the bottom in the ranking of business sectors.
With a more in-depth analysis, from a reputational standpoint you can break down the ‘Financial Services’ sector into 3 segments that have a different reputation. The insurance industry has a moderate reputation.
The factors that most influence reputation among public opinion differ depending on the sectors they belong to.
In the Insurance sector, these are ‘Products and services’, ‘Social Responsibility’ (Citizenship) and ‘Performance’.
Reputation of the Unipol Group
The target set at the beginning of 2016 is to lead the Unipol Group to the strong reputational bracket (score: 70-79) by the end of the current Business Plan 2016-2018 and to ensure such figure a stable growth trend. In fact, historically such ratio is a threshold for service companies that has been exceeded permanently in only a few cases.
The Group has integrated the metrics of the RepTrak® index within its Risk Appetite Framework, setting as its risk appetite level the goal to keep the RepTrak® index with the stakeholder “Public Opinion” above 60, i.e. in the bracket “Average / Moderate (rate 60-69)”. If, as part of the quarterly monitoring, the index should steadily fall below the threshold of 60, thereby entering the bracket “Weak / Vulnerable”, the Group will promptly adopt appropriate mitigation plans.