Sustaina­bility

We have long prioritized customer satisfaction and focused on delivering exceptional service, whether in sales, advisory, claims handling, or other areas.

We continuously strive to improve our service and have achieved significant success, including ranking as the top insurance company in the Icelandic Customer Satisfaction Index for the past seven years.

From the beginning, we have placed strong emphasis on robust preventive measures and education for both individuals and businesses, as these represent our greatest opportunities to impact sustainability. Preventing accidents, injuries, and damages benefits everyone by promoting health and safety while reducing waste.

We leverage data to analyze trends in claims and shape our prevention priorities and messaging accordingly. We also collaborate closely with various organizations focused on safety, such as the Icelandic Transport Authority, the Icelandic Association for Search, Rescue & Prevention (Landsbjörg), and others, on prevention-related projects. Additionally, we work with companies insured with us to enhance their safety and preventive measures.

Employee satisfaction and customer satisfaction go hand in hand. A strong workforce with excellent knowledge and diverse experience is essential for delivering outstanding service to our customers and evolving our operations to meet their needs.

Sjóvá’s human resources strategy focuses on creating an attractive workplace with an inspiring environment where employees have the opportunity to thrive and grow. Surveys show that employee satisfaction at Sjóvá is among the highest in the country, scoring 4.6 out of 5 in a Gallup survey at the end of 2023.

A key aspect of our operations is ensuring robust information security and personal data protection. We continuously update our policies and practices in line with evolving risks and opportunities.

Since 2014, we have maintained certification for our information security under the ISO/IEC 27001 standard, with regular audits conducted as part of this certification process.

We follow an investment policy and asset management rules that are reviewed regularly. These are designed to ensure that the company’s investments are prudent and responsible, in accordance with Article 113 of the Insurance Activities Act No. 100/2016.

We have also implemented a Responsible Investment Policy, which integrates the objectives of our investment strategy with Sjóvá’s sustainability and corporate social responsibility goals.

We place great emphasis on business ethics and transparency, as trust and integrity are fundamental to our relationships with customers. We strive to communicate about insurance in clear, accessible language and ensure that information is easy to understand.

Sjóvá’s Code of Conduct serves as a foundation for good business practices and ethics among employees. We have also issued a Supplier Code of Conduct to ensure that our standards for ethical business practices are upheld by our suppliers.

Sjóvá is committed to being a model company in corporate governance. In August 2023, we successfully passed an audit by Stjórnvísi and were recognized as a Model Company in Corporate Governance.

Our approach to claims services has long aligned with the principles of the circular economy. We continually work to prevent damage, minimize losses, repurpose damaged items, and repair what can be fixed, thereby preserving the value of assets for as long as possible.

We have undertaken various initiatives to promote environmentally friendly claims services, such as increasing windshield repairs instead of replacing them with new ones. These efforts, like many others, are carried out in close collaboration with our service providers and customers across the country.

Sjóvá is committed to reducing the environmental impact of its operations through targeted actions and responsible resource management.

We have worked to lower emissions from our activities in various ways, including reducing waste in claims handling and developing digital service solutions, such as for damage assessments.

Since 2015, we have had an agreement with Kolviður for carbon sequestration through forestry to offset emissions from our operations. Additionally, we have purchased carbon credits from SoGreen, an organization focused on preventing emissions through educational projects for girls in Africa.