Submitted to:
Mr. Brian Alcordo
Submitted by:
Roderick Mabelo
John Kirby Jamin
Juliee Anne L. Lucine
Lences Torres
October 2017
I. INTRODUCTION
Ethics concern an individual's moral judgements about right and wrong.
Decisions taken within an organization may be made by individuals or groups, but
whoever makes them will be influenced by the culture of the company. The decision to
behave ethically is a moral one; employees must decide what they think is the right
course of action. This may involve rejecting the route that would lead to the biggest
short-term profit but could also give significant benefits to the company.
Pru Life UK with its tagline “Always listening. Always Understanding” is
committed in securing the needs of its clients through wide range of comprehensive
protection, investment and retirement plans. It helps build financial security and
safeguard during their clients’ life uncertainties. They serve as an ally in securing the
education of their clients’ children. They help when you are planning to start a new
business or planning for a dream vacation. And for their retiring clients they offer
retirement plans and obtain the rewards and benefits after they’ve worked, saved and
strived for a very long time. As much as they provide all the best benefits and services
to their clients, does Pru Life UK also offer their employees the same?
This study aims to analyze the ethical, moral and social responsibility aspect of
the company. To see if they were able to give back to their employees who are always
behind the success of their company and to the community where they belong. To see
whether they are able to achieve their missions and visions and if they are true to their
commitments to the public.
II. BUSINESS OVERVIEW
Corporate History
1996
Pru Life UK was incorporated as Pru Life Insurance Corporation of U.K. in January , and
the Insurance Commission granted the Company an operating license in the Philippines
in June. The first policy was issued in September 1.
1997
The Company was one of the first to be allowed by the Insurance Commission to issue
dollar-denominated policies.
1998
After only two years of operations, Pru Life UK was ranked among the top 10 life
insurance companies in the Philippines in terms of First Year Premiums (FYP).
2001
Pru Life UK was named the fastest growing life insurer in the country with a 63% growth
rate, first year ordinary life premiums and acquired AllState Life Philippines.
2002
The Company pioneered unit-linked or investment-linked life insurance in the
Philippines with the introduction of the PruLink Investor Account.
2002
Pru Life UK acquired ING Life Philippines.
2004
The Company was recognized as the Outstanding Life Insurance Company in the 15th
Annual National Consumers Awards by the Consumers Union of the Philippines.
2007
Pru Life UK hit the PhP1-billion mark in terms of Annualized Premium Equivalent (APE),
a 130% growth from 2006. Million Dollar Round Table (MDRT) agent qualifiers reached
an all-time high. The Company established its Partnership Distribution division,
expanding its distribution network to include partner banks and brokers.
2009
Pru Life UK placed third in the Chairman’s Challenge Prudential plc’s global
volunteering program that recognizes projects that made the greatest impact to
communities, for the Pru Life UK - Gawad Kalinga Felicity Village.
2010
Pru Life UK was awarded as the fastest growing Prudential company in Asia by regional
headquarters Prudential Corporation Asia (PCA).
2011
Pru Life UK became the first private company in the Philippines to offer Metro Rail
Transit (MRT) commuters free rides, a thanksgiving treat to the public on its 15th
anniversary in the country. The Cha-Ching musical edutainment cartoon series was
launched over Cartoon Network in Southeast Asia, including the Philippines, by PCA in
September. It is the first multi-country, multi-platform financial literacy program for
children.
2012
Pru Life UK launched the PruLink Asian Local Bond Fund, the first of its kind in the
Philippine market, allowing Filipino consumers to piggyback on offshore funds from
Asian economies. Pru Life UK launched the Cha-Ching Financial Literacy for the Youth
Program in January, an offshoot of PCA’s landmark financial literacy program, the
musical edutainment show Cha-Ching. In April, Pru Life UK signed a Memorandum of
Agreement with the Department of Education to integrate the Cha-Ching Financial
Literacy for the Youth Program in the grade 2 curriculum of two pilot schools – Tagaytay
Central School in Tagaytay City and Upper Bicutan Elementary School in Taguig City,
for the school year 2012-2013. Sealed a partnership deal with Standard Chartered Bank
establishing the general agency Assurance Solutions Insurance Agency, Inc., marking
the 11th alliance between Prudential Corporation Asia and Standard Chartered Bank in
Asia.
2013
Pru Life UK launched the PRUlink Asian Local Bond Fund, the first of its kind in the
Philippine market, allowing the Filipino consumers to piggyback on offshore funds from
Asian economies. The Man From The PRU was also relaunched as the group’s regional
branding campaign, and is now the icon of the Pru Life UK promise to provide the best
kind of service that consumers need.
2014
PRUlink global emerging markets fund and PRUlink cash flow fund, the first US dollar-
denominated payout-based fund, were launched. PRUaccess, the Company’s customer
portal, was initiated.
2016
Pru Life UK celebrated its 20th anniversary with the launch of its most innovative and
best-selling product, PRUlink elite protector 5.
III. BUSINESS ANALYSIS
Pru Life Uk’s mission is to protect and make lasting contribution to
communities in the Philippines
CONCLUSION
RECOMMENDATION
Pru Life has been operating for long time. They practice honesty in their works in
presenting data and audited financial report. It is recommended to continue honesty in
their works so they get the trust of their clients. Pru Life UK was named the fastest
growing life insurer in the country with a 63% growth rate, first year ordinary life
premiums and acquired AllState Life Philippines.Pru life have their social responsibilities
in are community the mission is to protect and make a lasting contribution to
communities in the Philippines.
