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.