Bangkok--1 Sep--Aziam Burson-Marsteller
ING Life Limited recently announced that it has been named the first runner-up in the Best Management Development Award 2009 competition by the Office of the Insurance Commission (OIC). The award was presented to Acting co-CEO Andrew M. Shaw by Prime Minister Abhisit Vejjajiva at the Prime Minister’s Insurance Awards Ceremony at the Government House.
The Best Management Development Award is organized by the OIC to rate Thailand's insurance companies, on a wide range of criteria, in order to determine which firms have continued to show development in the way they conduct their business as well as in their operating results. The 2009 awards were granted based on company data from 2008 to 2009.
During the period in question, ING Life showed significant development in its operational and financial results including recording its first net profit in 2009. At the same time, the company expanded its bancassurance business and put in place a world-class agent training and recruitment system. Both of these initiatives were in support of ING Life's customer centricity strategy, which places the customer at the heart of every aspect of its business. All this was done while maintaining the highest ethical standards in line with global insurance business best practices.
“We at ING Life Limited are very proud to have been rated so highly in this very competitive industry and are honored to have received the recognition from the Prime Minister himself,” said Andrew M. Shaw, Acting co-CEO, ING Life Limited. “The staff of ING Life, our agents and our bank partners have worked very hard over the last couple of years to develop our organization’s processes and performance and to a large degree we have succeeded in this effort. This success is demonstrated by our financial performance in 2009 and our continuing operational developments in line with our customer centricity strategy. Of course, key to this strategy is our continuous enhancement of the products and services we offer to our valued customers in Thailand. Meeting the evolving needs of Thai consumers is ING Life’s ultimate mission, and we have focused all of our energy and resources on making this happen. Our taking second place in the OIC’s Best Management Development Award 2009 competition is further evidence that ING Life is on the right track for ongoing success in Thailand.”
The Best Management Development Award organized by the OIC takes a holistic approach to ranking insurance companies in Thailand, with indicators of financial and market performance, regulatory compliance and adherence to high ethical standards. Companies are progressively eliminated over three sets of criteria with only the top eight insurance companies in Thailand reaching the final stage of the competition.
“While we are gratified with our recent performance, we know that ING Life still has room for development and we are committed to following through on our customer centricity strategy and continuing to grow our business in Thailand. Finally, I would like to express our sincere appreciation to all of our customers in Thailand for their ongoing trust in our organization, and decision to allow ING Life to help secure their future,” concluded Mr. Shaw.
Photo Captions:
Picture shows ING Life Limited Acting co-CEO Andrew M. Shaw (left ) receiving the Office of the Insurance Commission’s Best Management Development 2009 First Runner-Up Award from Prime Minister Abhisit Vejjajiva (right) at the Prime Minister’s Insurance Awards Ceremony at the Government House. The award was granted based on ING Life’s significant developments in financial and operational performance in 2009 combined with its adherence to the highest ethical standards.
Picture shows ING Life Limited Acting co-CEO Andrew M. Shaw (third from right) and Acting co-CEO Poolap Penkitti (fourth from right) with senior executives of ING Life during the Prime Minister’s Insurance Awards Ceremony at the Government House. ING Life claimed the position of first runner-up in the Office of the Insurance Commission’s Best Management Development 2009 Awards.
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