Business redefines CSR

Published by rudy Date posted on January 18, 2010

MANILA, Philippines –  Side by side the desire to gain market leadership, most companies today aim to become a positive instrument of change wherever they are in the world.

For instance, Global Life insurer Prudential plc, the parent of Philippines’ Pru Life UK, recently mobilized volunteers among its employees not only to effect change on the lives of people in distressed communities but also to put the team in the map of global heroes.

Through a contest implemented at Pru Life UK branches all over the world, employees are pushed on a volunteerism mode and ranked based on their involvement in volunteering activities and the social impact of the initiative to a charity or local community.

“We want to help schoolchildren and their families get back on their feet in the aftermath of Ondoy,” says Peter Grimes, recently appointed president and CEO of Pru Life UK in the Philippines, who along with a 20-man team brought a caravan of aid to schoolchildren in 35 communities in Tanay.

Team Philippines, through Plan International, donated school supplies and hygiene kits to 3,843 pupils as well as a hefty amount to fund psychosocial counseling and debriefing services to children suffering from trauma brought on by the disaster.

This year, Pru Life UK’s Team Philippines made it to the Top 10 CSR (corporate social responsibility) projects among Prudential plc’s worldwide business units; a big feat, considering the total number of hours they have logged vis-à-vis number of regular employees.

Grimes reveals that despite increased product sophistication, the insurance industry is facing stiff competition not only against insurance companies but other financial institutions such as banks, which offer similar line of products, although banks are also provide powerful distribution channel for insurance companies.

A challenge, he says, is that the Philippines continues to be an under-insured market. “Traditionally, the Filipinos have leaned towards savings and wealth generation and give little emphasis to wealth protection.”

The scale of agency force in the country is relatively small (approximately 30,000) compared to Thailand’s smaller population of 60 million but where the life industry has four or five times as many agents, he added.

Nevertheless, Grimes is optimistic that Pru Life UK will draw a younger breed of agents (they call them “financial advisers”) into the business because of an advocacy — they would like to support individuals, make them become financially aware of their needs, help make their dreams come true, and prepare for their retirement. –(The Philippine Star)

July 2025

Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”

Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

July


3 July – International Day of Cooperatives
3 Ju
ly – International Plastic Bag Free Day
 
5 July –
World Youth Skills Day 
7 July – Global Forgiveness Day
11 July – World Population Day 
17 July – World Day for
International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons 


Monthly Observances:

Schools Safety Month

Nutrition Month
National Disaster Consciousness Month

Weekly Observances:

Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

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