The National Guidelines on Responsible Business Conduct states in its core principle that the businesses should conduct and govern themselves with integrity, and in manner that is Ethical, Transparent and Accountable. CS

As we are aware that making profit only should not be the objective of any business. Focus should be laid on wellbeing of the society as that indirectly affects the profits therefore CSR is the DNA of business which incorporated would be beneficial to the business ensuring sustainable development. It is important for insurers to highlight the essential responsibility they play in economic and societal development. CSR determines implemented in good times and in bad will develop the industry's reputation and strengthen stakeholder relationships. An insurance company can undertake following possible ways specific to corporate social responsibility in order to be sustainable in the competitive scenario. Paying Valid Claims Efficiently: The yardstick to judge insurance company's efficiency is as to how quick the claim settlement is made. The less time consumption and fairness with which an insurer handles claims show the maturity of the company and may lead to great satisfaction of the client. Risk Minimization: Insurers should focus to minimise risks both internally in their operations and externally for their clients and other stakeholders. Though external risk minimization is a difficult task, but insurers should try to minimise the same by reducing claims cost and frequency for clients and insured's will thus be incentivized to reduce the likelihood and severity of loss in order to lower their premiums. Insurers should, and often do, consider offering discounted premiums to insured's that take preventative measures. Strategic Philanthropy: Strategic philanthropy involves associating with charities or similar non-profit organizations in the community. This type of corporate giving cannot only impact the community but also other stakeholders in the business. Insurers can also take part in disaster relief activities. Companies can provide substantial financial support to the victims of different catastrophes. Life insurance companies can relax the norms to ensure faster and easier claim settlement for the victims of disasters. Corporate Governance: Initiatives Insurers should take initiative in designing and formulating some codes of conduct and ethics, some guidelines comprising the basic principles that should guide the activity of top and middle managers. Environmental Initiatives: The companies can make financial investments in the environmental projects including energy conservation, environmental risk management and recycling operations of different natural resources. Legal initiatives: The firm can perform numerous activities in order to improve the laws in the countries in which the corporation operates, to adapt them to the new trends of different markets, provide necessary assistance to the area regulation and supervision authorities, as well as to state authorities on different themes. Recognition for Human Rights: Corporations develop a means to hold themselves accountable and to provide for remediation through grievance or other mechanisms. Companies should show enthusiasm for observing voluntary human rights codes of conduct usually operate in a business with the potential to considerably impact human rights.