The NIACL Improves Energy Efficiency and Strengthens Governance: BRSR Report

The New India Assurance Company (NIACL) has released its Business Responsibility and Sustainability Report (BRSR) for FY 2024-25. Before we proceed, let me tell you about the company. NIACL is a government-owned non-life insurance company operating across 28 states, 8 UTs, and 15 foreign locations. The company is not just focused on making profits but is also committed to responsible insurance, ethical governance, employee well-being, and community development in alignment with the National Guidelines on Responsible Business Conduct (NGRBC). NIACL follows all nine principles of NGRBC and continues to embed sustainability within its core business, decision-making, and customer service.

Environmental Performance

NIACL is taking steps to reduce its impact on the environment. The company’s total energy consumption stood at 1.17 lakh GJ and is improving efficiency by using solar panels and motion sensor lights to save electricity under the PM Suryaghar Yojana. The company has responsibly consumed 89,138 kilolitres water through municipal treatment systems. NIACL has emitted 18,859 tonnes of CO₂ equivalent and is now planning to track indirect emissions as well.

The company follows all important environmental laws and is ready to set up a system to monitor and manage waste more effectively.

Employee Welfare and Inclusivity

As of March 2025, NIACL had 10,951 permanent employees out of which 31% are women. All employees are covered under health and accident insurance. The company has strong safety record with no deaths or any serious accidents and provides fire-safety and awareness training. It also provides facilities or infrastructure for differently abled staff.

NIACL follows an Equal Opportunity Policy that offers equal opportunities at work, with 321 differently abled employees on board. Regular skill-development and performance-review programs for all employees assist them in professional growth. The company supports its employees after parental leave, while the return-to-work and retention rates following parental leave remain above 98%.

Besides that, NIACL maintains a respectful and safe workplace by adhering to strict rules through its Whistle-Blower Policy and the Prevention of Sexual Harassment Act.

Governance and Ethical Practices

NIACL follows transparent rules to manage its business responsibly. The company’s Board-approved ESG Policy, Code of Conduct, and Whistle-blower Policy that allow employees to report any wrongdoing safely. It operates a three-tier ESG governance structure under board-level oversight.

No penalties, corruption cases, or data breach cases were reported during FY 2024-25. The Company also received ISO 27001:2022 Information Security Management System certification, further confirming that the Company is following international standards to keep the data secure and maintain privacy to protect their sensitive information from Cyber Threats.

Policies regarding anti-bribery, anti-corruption, and responsible procurement are followed not only within the company but also by its supplier and partners using the Government e-Marketplace (GeM) platform.

CSR and Community Development

As part of its CSR commitment, NIACL focuses on healthcare, sanitation, education, and environmental protection. During the financial year 2024-25, it supported different projects such as a mobile medical ambulance service called savali which provided healthcare to 62,400 people in slum areas. The water waste management project run with the Thirumalai Charity Trust and is benefiting 1.41 lakh people. It also donates a blood analyser machine to Bisnouli Hospital and is helping around 450 patients. The company has also supported the Sevarth Sansthan Program which helped 114 people from vulnerable groups.

The company used its CSR funds in less developed area like Fatehpur in Uttar Pradesh. NIACL has also set up proper system for people in the community to get their feedback or complaints about its CSR activities. If they find any, issues are resolved quickly by CSR committees to make sure the project run smoothly.

Highlights

• Energy: 1.17 lakh GJ consumed; solar and motion-sensor initiatives implemented
• Water: The company used 89,138 KL water, adopted municipal treatment
• Carbon Emissions: NIACL produced 18,859 tonnes of carbon dioxide, Scope 3 tracking planned
• Workforce: Total employees 10,951 with 31% female, no fatal accidents recorded
• CSR Focus: 2 lakh + beneficiaries across health, education and sanitation projects