Corporate Social Responsibility and Good Governance

We figured out that Insular life foundation geared towards education for the Filipinos, we would like to know why you chose education as a basis for your CSR program? When did the foundation founded? Answer: Insular Life foundation was founded since 1962 and incorporated in 1969. The founders believed that the future progress of the country lies on the quality of education. It’s the great equalizer for people who have attained a better education to have a chance to be a better citizen of the country.

So ever since, until now, helping improved access and quality education is our priority for those who can’t afford to pay for higher tuition fees. 2. We see the relation between the mission and the vision of the company to provide financial services for the Filipinos and also for the foundation, which is to help, improved the quality of education. We want to clarify how Insular Life Foundation is related to over all mission and vision of the company? Answer: The foundation has its own vision, which is aligned to the corporate mission.

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“Committed partner for self-reliance and helping communities we served. The key words in our vision are commitment, self-reliance and helping communities. When we say commitment, it refers to longevity. We make sure that in every project we initiate its for a long run. Self-reliance is a new vision that empowers people to be able to help themselves for the better. Helping communities we served, deliberate effort to do programs where Insular Life presence is established.

3. How does Insular Life foundation impact the community? Answer: To us, pure CSR is not redone to any financial gain for the company. We do it of course because we want to give back for the community.

We like to be part of the nation building by helping people who can’t help themselves to sustain quality education. Some of our scholars become contributors to our foundation and can purchased life plans that also benefits them. 4. How important for the foundation to sustain a better corporate image? Answer: We build up goodwill to people, communities and public. Goodwill and reputations are more valuable than revenues because revenues can be earned yearly while corporate reputation once smeared, it’s hard to regain the trust that was lost. It is an attitude as a responsible corporate citizen.

As you have said, the company is not after any financial gain, how do you allocate or raise funds for the foundation? Answer: It is in the by-laws of Insular Life company, parent company, that the potion of its net income after tax will go to the foundation to sustain its project. Also, Insular Life is the only funder of the foundation. 6. How successful the foundation in fulfilling its mission and vision? Answer: Longevity since it’s operating from 1962 until now; if it weren’t successful it will not survive for that span of time. Another our scholars are now successful in various industries they belong to.

If you remember the former president of BPI, he was one of our Insular scholars. When we learned that our scholars are now earning money and are successful it reflects to the organization as a measure of success. 7. How does your CSR program impact the community? Answer: We’ve been helping a school, Muntinlupa itaas Elementary School, since 2001 in our Adopt-a-school program. At first, we have donated cabling facilities and t. v sets to install knowledge channel that serves as a teaching tool for the teachers. Then in 2003, we adopted 100 grade 1 pupils to be the beneficiary of school supplies and books that was sponsored by our employees.

It is not a one time adoption, we make sure that the child finishes Grade 6. In some cases, not all the 100 pupils got the chance to graduate because some of them are kids of the prisoners, who are then freed, goes back to their provinces together with the child. Had we not helped them? Possible kayang di sila makatapos? We encourage the children to keep going to school. We once plan to get help from the government but we thought that would continue our program to the direct beneficiary of this foundation, the children.

The impact of scholarship is that parents are relieved from paying tuition fees and we also offer stipend, book allowance and transportation allowance for those students who deserve for our scholarship grants. 8. You have mentioned that the employees are involved in the program, Do they volunteered to work? Answer: We have a program called Employee Volunteerism; our employees got a chance to volunteer their time and effort to Gawad Kalinga.