The best businesses know how to balance purpose and profit. This is something we’ve always valued as a company – because the social and environmental responsibility of corporations directly determines the future of society as a whole. As Forbes puts it: “There is a widely held view, growing in momentum, that businesses need to play their role in driving societal and environmental change—rather than leaving that to government and charities.”We’re honoured to have recently become one of the 6554 global organisations with B Corp status – and the first-ever Group Risk insurer to be B Corp certified. But what does “B Corp certification” actually mean? Below we explain the B Corp meaning and why YuLife has chosen this path.What is B Corp? B Corporation began over a decade ago with an organisation called B-Labs. It was established to help inspire businesses to move away from the centuries-old belief that businesses should be all about profit. That’s why the B Corp certification was created – to inspire, reward and motivate companies in their social and environmental impact. B Corp companies are identified as “beneficial corporations” meaning they benefit our communities and transition towards a more sustainable and unified world. With hundreds of thousands of applications submitted, only about 3% of organisations actually get certified.The B Corp assessment process is detailed and really makes sure there are concrete action steps that are being taken by the corporation before they are awarded B corp status.. What does it take to be a B Corp? Being a B Corp means you’re a for-profit company that’s making active moves towards the greater good of the world – like bringing the community together to support a sustainable future through donations and events that drive profit to places that need it.Becoming B Corp certified is a detailed evaluation process that proves you’re committed to social and environmental sustainability. It means you make investments into your employees’ wellbeing, and the environmental wellbeing of the planet and you are being ethical in sourcing and producing your product. It holds organisations truly accountable for their claims. In order to get B Corp certified, you have to go through 150 questions and score over 80 points. Points are determined by five key areas of your business: workers, customers, governance, community and environment. The series of questions range from your company’s involvement in charities, what employee benefits you offer your team, and even who your suppliers are. Why did YuLife become a B Corp?We believe that insurance can be a powerful force for good in the world. We decided to apply for a B Corp certification because we want to showcase our product as something our clients can truly trust, and feel good investing in. And ultimately – we want to realise and make clear our true mission as a company of being a tech-for-good company. And much like we want to put our values up front and centre, we also want to attract people and shareholders who believe in the same values as us. It’s also an incredible opportunity to hold ourselves as a business publicly and actively accountable to always strive for the best. We aim to continuously focus on our impact first, rather than our earnings. And seeing this “B” symbol next to our name will be a consistent reminder – for those who come into our company and to those who continue to work here to continue building a positive organisation that truly inspires life in every sense of the term. What’s next in YuLife’s B Corp journey?Just because we’re B Corp certified doesn’t mean our journey slows down. In fact…it’s quite the opposite! Our commitment doesn’t stop because we’ve hit over 80 points on the evaluation. There’s a constant desire to continue scoring higher and higher – and then maintaining it with every subsequent evaluation. Holding B Corp status means we are meeting the minimum requirements of a sustainable company, and we need to keep pushing those boundaries. Now more than ever, we are committed to keeping up with this great honour and continuing to do everything in our power to bring a positive impact to this planet. This milestone has proven that our dream as a company can become a reality. In other words: we can truly build a company that inspires wellbeing everywhere, every day, and for everyone. We can’t wait to continue our journey of giving more than we take and running our company with love at the core of every decision we make. After all, we believe that’s the solution to making the biggest impact socially and environmentally: lead with love. Because when you lead with love, it’s a win-win for everyone.All there is to do, is to simply love being you.