To promote a sound domestic insurance market, in 2006 the FSC defined six
indicators — Risk-Based Capital (RBC), complaint rate, persistency ratio, legal
compliance, the percentage of professionally licensed signatories, and outstanding
Corporate Social Responsibility (CSR) endeavors — to evaluate insurance
companies doing business in Taiwan. These indicators are measures of an insurer’s
financial strength, sales and service quality, and corporate social
responsibility. To apply for Model Company recognition, an insurer company must
meet the thresholds of all the six indicators. POT applied for Model Company
recognition on June 22, 2018. Effective today, the FSC announced POT’s
selection as Model Company through its official notice.
POT is no stranger to Model Company recognition. The FSC named POT as a
Model Company four times before —in 2008, 2009, 2010, and 2012. POT is one of the
only two insurers to have been awarded Model Company recognition in the history
of the program, the only insurer to have received this recognition more than
two times, and the only Life Insurer to be named Model Company this year.
“Prudential is very honored to be named a Model Company by the FSC,”
said Dylan Tyson, President and CEO of POT. “Each and every day, our Life
Planners, Field Managers, and Home Office staff commit themselves to doing
business the right way — placing the needs of customers first. Only through the
quality, training, and commitment of our associates, could we gain such
important recognition,” Dylan continued.
Prudential entered the Taiwan market in 1990 with a distinctive,
protection-oriented business model and a strong desire to revolutionize the
insurance industry. Since that time, POT has been delivering tailor-made
protection solutions through highly trained, professional Life Planners. Founded
on the values of “Love of Family, Love of Humanity”, POT is dedicated to
providing financial security and peace of mind to the families of Taiwan.
In addition to being named a Model Company, POT has gained other
important recognitions over the past year. On August 30th, 2017, POT
received the ‘Protection Products Promotion Golden Award’ in the 7th Taiwan Insurance
Best Performance Awards. And on August 6th, 2018, POT received ‘The
Best Product Innovation Award’ in the 2018 Faith, Hope and Love Award.