Corporate Profile

Corporate Social Responsibility

MAAGAP, as an insurance company, adheres to a strict tradition and culture of professionalism and excellence. Having been certified to ISO 9001:2008, MAAGAP is committed to implement its quality management system in compliance with ISO standard to strengthen consistently our position of assuming a more pro-active approach in pursuing continual improvement not only in production and efficiency but also in our social integration with the community.

We at MAAGAP will always continue to maintain our emphasis on transparency and honesty more particularly on what we're doing and paramount to earning public's trust and customers' loyalty. To gain public support for our presence in the market to sustain our competitive advantage, we have several programs grounded on the principle of Corporate Social Responsibility (CSR) whereby, we engage our employees and customers in giving back as we want them to feel like they have a voice.

Value Training for Employment

As the core business of insurance relies on the efficiency of human capital, MAAGAP has a comprehensive scholarship to employment programs, wherein deserving individuals are chosen as college scholars to take up a course relevant to the insurance industry. Once the scholar reaches junior or senior year college and enrolls in the OJT program, he is directed to take his training with MAAGAP. The exposure allows the student opportunity to train in the actual business operation of his benefactor and grants MAAGAP the opportunity to evaluate and direct his potential. After graduation, MAAGAP hires the former scholar.

This comprehensive value training for employment program is founded on the principle of symbiosis wherein each party benefits by trading value for value.

Employee and Stakeholder Training

MAAGAP regularly conducts In-House Basic Non-Life (BNL) Insurance Trainings to its new employees and also to its partners/stakeholders, specifically the agents and brokers, who conduct business with MAAGAP.

The purpose of the BNL training is to orient new employees, selected agents and brokers, in order to orient them with the fundamental lessons in the non-life insurance. Lesson topics in the four-day, course which is conducted on Saturdays include introduction to the Non-Life Insurance Industry, Basics of Motor Car Insurance, Fire and Property Insurance, Bonds and Surety, Liability Insurance, Marine Insurance, P.A. and Health Insurance.

MAAGAP also conducts advanced specialized courses on the different product lines that it offers (fire and property insurance, suretyship and motor car insurance). These trainings are held when it is assessed that company employees, agents and brokers can benefit from this advance knowledge.

Aside from the above in-house trainings, MAAGAP also takes note of training invitations from outside firms and institutions and enlists their employees in order to expand their knowledge in different aspects in the non-life insurance industry.

Employee Welfare Policy

As a matter of company policy, MAAGAP endeavors to award to its employees what is justly due to them. The company regularly works with government agencies that look after employee welfare such as SSS, PhilHealth, Department of Labor and Employment, Employees' Compensation Commission and invite them over the company in order to conduct seminars and/or trainings in order to fully inform MAAGAP employees on labor standards, their rights within the workplace and the benefits and assistance that they can gain from these government agencies throughout their career.

Aside from the basic employee benefits declared under law, MAAGAP also aids its employees and gives them financial assistance during their time of need. As per MAAGAP's General Internal Control Procedure (ICP), employees can avail of company loans (with no interest) for educational assistance and emergency situations.

Health Monitoring and Maintenance

Another human capital based initiative is the company's mandatory and free annual health check-up for all employees. It is to be noted that this free check-up is done immediately prior to hiring in order for the company to be informed of the new employee's health status.

MAAGAP shoulders the costs of the check-up maintain up-to-date baseline information of health status of its employees. From a management perspective, this baseline enables the company to have objective confidence over the fitness of its employees to render services, particularly in departments that have highly stressful environments. This practice of health consciousness likewise benefits the employees directly as it grants them the advantages of preventive medicine.

Aside from this regular physical check-up, in order to maintain the optimum health of MAAGAP employees, the company also coordinated with an HMO firm and paid for its services. That way, at the employee's option, he/she can avail of medical and/or dental treatments when the situation or the need for it arises.

Charity

Although charity is not directly related to the core business of MAAGAP, the company nonetheless maintains an annual partnership with the Sisters of Charity, Kanlungan sa Er-ma Ministry, Inc., and Children's Joy Foundation. Through collaborative initiatives with these institutions, the company gains assurance that its donation of resources directly benefits children who are in need. This voluntary charity work is MAAGAP's direct approach to make the company relevant to the underprivileged.

In 2016, MAAGAP also coordinated with the National Kidney and Transplant Institute (NKTI), wherein company employees donated blood to the institute in order to help those with medical needs.

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The birth of MAA General Assurance Phil., Inc. (MAAGAP) took place when its parent company, MAA International Group Ltd. (MAAIG) from Malaysia ventured to strategically expand its business in Asia. MAAIG is an offshore composite insurance company licensed under the Offshore Insurance Act 1990 in Labuan International Offshore Financial Centre (IOFC) to underwrite life and general insurance and reinsurance business. Gearing for the planned expansion, MAA procured the insurance license of the then Paramount Insurance Corporation and renamed it MAA General Assurance Phil., Inc.

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Published on October 05, 2023
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