Assurity Largest Insurance Company to be B Corps Certified
In December 2015, Assurity became the world’s largest insurance company to be named a Certified B Corporation. Read More
B Corp is a status awarded by the U.S.-based nonprofit B Lab. During a yearlong application process, B Lab assesses a company’s impact on its employees, suppliers, community and the environment against a set of standards for social and environmental performance, accountability and transparency. For companies that qualify, the certification is to business what the fair trade label is to coffee or a USDA Organic label is to milk.
Each company applying to become a Certified B Corp must complete a “B Impact Assessment” and earn a reviewed minimum score of 80 out of 200 points. The company must meet certain legal requirements and finally, sign a “Declaration of Interdependence,” making the designation official. The certification term is two years, after which the company must recertify.
Over 1,400 companies from 42 countries have been certified B Corps since 2006, and the roster includes household names like Ben & Jerry’s, Patagonia and Warby Parker glasses. Fast Company recently named the phenomena of businesses focused on social good like B Lab as one of the top “moments from the past 20 years that moved the world forward,” along with such events as the iPhone and the Human Genome Project.
Said Tom Henning, Assurity CEO, “More than ever, and especially in this digital age, people want to do business with people and organizations they trust. This fundamental truth speaks to the heart of why earning our B Corp status is important for us. We recognize our greater corporate social responsibility to our employees, the community and the environment.”
Assurity is the second business in Nebraska to become a Certified B Corporation. Firespring, Assurity’s digital marketing partner, was the first.