Can Allianz be classed as an ethical insurance brand?
Allianz, owned by Allianz S.E is an insurance brand. Unfortunately, it has a low score within The Good Shopping Guide’s Ethical Insurance Ratings Table and does not meet our minimum Ethical Benchmark to be classed as one of our Ethical Insurance companies.
Though it does not yet meet our minimum Ethical Benchmark, The Good Shopping Guide still encourages Allianz to apply for Ethical Accreditation. The Good Shopping Guide would then provide Allianz with a detailed assessment with some recommendations on how it could adopt some more ethical practices. As a result, Allianz could see its score rise.
To learn about how other insurance providers rate against Allianz within the Ethical Insurance sector, visit the Ethical Insurance Ratings Table. It can help you to learn more about the criteria that a brand must meet in order to reach our minimum Ethical Benchmark.
The Good Shopping Guide encourages all brands to follow the example set by our top-rated brands by introducing more ethical policies and applying for Ethical Accreditation.
Does Allianz score well on its Environmental Report?
Allianz receives a top score for The Good Shopping Guide’s Environmental Report category. On its website, it has a detailed Sustainability Report. Within the report, Allianz has some targets including the goal of reaching Net Zero by 2050.
What does Allianz receive a bottom rating for?
Unfortunately, Allianz receives a bottom rating for The Good Shopping Guide’s Political Donations category. In recent years, Allianz has donated over $1 million in election cycles.
The Good Shopping Guide lays states in its criteria that it does not believe that brands should fund political parties as it can influence the political process. Brands that have donated more than £50,000 (pr the US equivalent) receive a bottom score.
Additionally, Allianz receives a bottom rating for Irresponsible Lending+, which is only included for companies which receive a high volume of criticisms in the Irresponsible Lending criterion. This means that Allianz has been criticised several times for unethical investment practices.
What does Allianz need to do to improve its score?
Allianz’s bottom score is the outcome of a calculation of multiple ethical criteria carried out by The Good Shopping Guide.
If Allianz were to work on its bottom scores, including its bottom score for Political Donations it could see its position rise on the Ethical Insurance Ratings Table. By improving on its low ratings, Allianz could see itself becoming one of The Good Shopping Guide’s best insurance companies.
Despite being a below-benchmark brand, The Good Shopping Guide still recommends that Allianz applies for Ethical Accreditation so that we can advise the company on how to improve its ethical policies and practices in the future.
Do you think that your insurance could brand benefit from Ethical Accreditation? Have a look at The Good Shopping Guide’s Ratings Tables to see which other brands within the Ethical Insurance sector have received our ethics and sustainability certification. For more information, get in touch or fill out a rapid initial sustainability assessment form.
Ethical performance in category
GSG category benchmark
Carbon Disclosure & Reduction Targets
Responsible Investment Policy
= GSG Top Rating = GSG Middle Rating = GSG Bottom Rating