Participation in this course meets the recommended best practices for continuing directors education prescribed by the Insurance Commission (IC).

CGS Workshop for Insurance Companies

Journeying to Heights of Excellence:
A Corporate Governance Scorecard Workshop for Insurance Companies

Achieving sustainable good corporate governance requires an ongoing commitment to fostering interdependence and synergy across diverse sectors of the nation. The interconnectedness of economic, social, and environmental factors underscores the need for a holistic approach that transcends individual organizations. In this dynamic landscape, aligning with the recommended practices on corporate governance becomes imperative, positioning it at the forefront of any organization's strategic goals.

The primary objective of the Insurance Commission is to elevate the standards of corporate governance within the insurance sector by incorporating the best practices established by the Association of Southeast Asian Nations (ASEAN). This commitment is underscored by Circular Letter No. 14-2013, which mandates that insurance companies adhere to the ASEAN Corporate Governance Scorecard (ACGS). Compliance with this directive necessitates the establishment of dedicated company websites for the purpose of submitting responses to the ACGS questionnaire. It is imperative to note that the Corporate Governance Scorecard (CGS), tailored for Insurance Commission Regulated Companies (ICRCs), serves as a robust tool for evaluating the corporate governance performance of the insurance industry. This evaluation uses publicly available information sourced from the respective company websites. The CGS, thus, functions as a foundational framework for the periodic assessment of board responsibilities, stakeholder relationships, and transparency practices within ICRCs. This systematic review aims to ascertain the economic viability and overall organizational success of insurance entities, reinforcing the Commission's dedication to fostering a corporate governance environment aligned with global standards.

Companies have every reason to capitalize on this opportunity, and here's why:

Thorough Grasp of Corporate Governance Scorecard Components: Participation in the workshop offers an extensive examination of the details of the Corporate Governance Scorecard, allowing companies to comprehend and maneuver through the diverse elements proficiently.
Stringent Guidance in Adhering to Best Practices: By aligning with established benchmarks, your organization establishes a robust foundation for sustainable growth, instills confidence among stakeholders, and fortifies its reputation in the business landscape.
ICD Recognition with Golden Arrow Awards: The Institute of Corporate Directors (ICD) confers the esteemed Golden Arrow Awards, representing the zenith of success in corporate governance. Companies can enhance their prospects of recognition by actively participating in the workshop and incorporating recommended practices, demonstrating a steadfast commitment to outstanding corporate governance.

By engaging in the workshop, insurance companies stand to gain not only compliance with industry standards but also the practical insights and strategies needed to elevate their corporate governance practices to new heights. It is within this transformative space that companies can grasp the nuances of the Corporate Governance Scorecard, implement recommended practices, and fortify their commitment to transparency, accountability, and ethical conduct. In essence, participation in the Corporate Governance Scorecard workshop is positioned as a pivotal and strategic move, marking a significant milestone in the ongoing journey of insurance companies toward achieving and sustaining high standards of corporate governance.

Participation in this course meets the recommended best practices for continuing directors education prescribed by the Insurance Commission (IC).

CGS Workshop for Insurance Companies

Journeying to Heights of Excellence:

A Corporate Governance Scorecard Workshop for Insurance Companies

Achieving sustainable good corporate governance requires an ongoing commitment to fostering interdependence and synergy across diverse sectors of the nation. The interconnectedness of economic, social, and environmental factors underscores the need for a holistic approach that transcends individual organizations. In this dynamic landscape, aligning with the recommended practices on corporate governance becomes imperative, positioning it at the forefront of any organization's strategic goals.

The primary objective of the Insurance Commission is to elevate the standards of corporate governance within the insurance sector by incorporating the best practices established by the Association of Southeast Asian Nations (ASEAN). This commitment is underscored by Circular Letter No. 14-2013, which mandates that insurance companies adhere to the ASEAN Corporate Governance Scorecard (ACGS). Compliance with this directive necessitates the establishment of dedicated company websites for the purpose of submitting responses to the ACGS questionnaire. It is imperative to note that the Corporate Governance Scorecard (CGS), tailored for Insurance Commission Regulated Companies (ICRCs), serves as a robust tool for evaluating the corporate governance performance of the insurance industry. This evaluation uses publicly available information sourced from the respective company websites. The CGS, thus, functions as a foundational framework for the periodic assessment of board responsibilities, stakeholder relationships, and transparency practices within ICRCs. This systematic review aims to ascertain the economic viability and overall organizational success of insurance entities, reinforcing the Commission's dedication to fostering a corporate governance environment aligned with global standards.

Companies have every reason to capitalize on this opportunity, and here's why:

Thorough Grasp of Corporate Governance Scorecard Components: Participation in the workshop offers an extensive examination of the details of the Corporate Governance Scorecard, allowing companies to comprehend and maneuver through the diverse elements proficiently.

Stringent Guidance in Adhering to Best Practices: By aligning with established benchmarks, your organization establishes a robust foundation for sustainable growth, instills confidence among stakeholders, and fortifies its reputation in the business landscape.

ICD Recognition with Golden Arrow Awards: The Institute of Corporate Directors (ICD) confers the esteemed Golden Arrow Awards, representing the zenith of success in corporate governance. Companies can enhance their prospects of recognition by actively participating in the workshop and incorporating recommended practices, demonstrating a steadfast commitment to outstanding corporate governance.

By engaging in the workshop, insurance companies stand to gain not only compliance with industry standards but also the practical insights and strategies needed to elevate their corporate governance practices to new heights. It is within this transformative space that companies can grasp the nuances of the Corporate Governance Scorecard, implement recommended practices, and fortify their commitment to transparency, accountability, and ethical conduct. In essence, participation in the Corporate Governance Scorecard workshop is positioned as a pivotal and strategic move, marking a significant milestone in the ongoing journey of insurance companies toward achieving and sustaining high standards of corporate governance.