77 | Material matters and risk management PPS Integrated Report 2021 Material matters PPS Insurance defines material matters as issues that can either directly or indirectly create, preserve, or erode financial, economic, environmental and/ or social value for the Group and its stakeholders. Both internal and external influences are considered when determining and prioritising material matters and our responses to them. We consider the following matters to be material to the Group, our members, our staff, and other stakeholders: Impact of COVID-19 Defining the issue: The COVID-19 pandemic has changed the environment in which we operate permanently and its full impact on society and the economy is yet to be wholly quantified. In this very uncertain situation, planning is challenging, as is managing the rapid pace of change that the pandemic has precipitated. The long-term sustainability of the business is of course the first and primary focus. Business continuity remains a key focus, as does how we need to organise our operations to accommodate changing realities. The challenge we face is one of having to secure our sustainability while simultaneously having to support our members in the first instance, but also staff and advisers through this period of unprecedented change. PPS’s response: In 2020, we rapidly adapted to the challenges presented by the pandemic, implementing remote and hybrid working arrangements in a way that enabled us to continue delivering the quality of service PPS is known for. We also put a comprehensive pandemic management strategy into place and we continue to use this as a framework within which to guide our response to COVID-19. In 2021, we experimented with remote and hybrid working models and formulated a policy that came into effect on 1 February 2022. When it comes to our members, we constantly assess underwriting and claims protocols to assist our members as much as possible, but also remain conscious of fairness across different cohorts of members. We, therefore, adapt our responses to the issues and the changing environment accordingly. From a human capital perspective, we have comprehensive programmes in place to help our staff adapt to changing realities, both in the workplace
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