Sustainability Programmes

Workplace

STRENGTHENING OUR WORKPLACE

Our workforce is our greatest strategic asset and we endeavour to ensure that our employees grow and succeed under our core. For this purpose, we continue to implement sustainable workplace initiatives to further strengthen the knowledge and the development of our employees and the overall performance of the Company as well as to ensure we keep our competitive edge.

In our bid to strengthen our employees, we direct our energy towards developing, prioritizing and implementing human capital initiatives that are complementary to the business strategies. These initiatives revolve around talent recruitment, talent management, development, performance review, reward and other touch-points of the employee life-cycle.

Training & Development Opportunities

To enhance the capabilities of our employees, ensure they keep abreast of industry trends and perform to the best of their abilities, we provide them with a variety of training opportunities.

Through various development initiatives, we introduce our employees to the fundamentals of the Company’s business, the insurance and takaful industries, the legal and regulatory environment, as well as technical and soft skills training.

Our employees participate in workshops, seminars and conferences, both locally and overseas. All these initiatives help them to be the best they can be, as well as bolstering their career pathways and lending to their personal growth.

Training and Development Opportunities

To enhance the capabilities of our employees, ensure that they keep abreast of industry trends and perform to the best of their abilities, we provide them with a variety of training opportunities. Through various development initiatives, we introduce our employees to the fundamentals of the Company’s business, the insurance and takaful industries, the legal and regulatory environment, as well as technical and soft skills training.

Our employees participate in workshops, seminars and conferences, both locally and overseas. All these initiatives help them to be the best they can be, as well as bolstering their career pathways and lending to their personal growth.

In continuation of our customized in-house leadership programs, conducted since 2014, namely LEAP (Leadership Enhancement & Alignment Program), HIGH (High Impact Group Leadership) and FLY (Future Leader in You), our leaders continue to be developed and exposed to a large variety of leadership development programs conducted by top executive-education providers. These leadership development programs address our leadership competencies and will expose the leaders to the latest industry developments as well as best practices. Participating in recognized programmes will also provide them the networking opportunities by accessing other regional leaders.

As part of our reinforcement phase, we have this year, organized the iLEAP (intergrated Leadership Enhancement & Alignment Program) Talk Series, which is aimed at integrating leadership development by learning from others. We have so far been fortunate to have a few prominent corporate figures to share their experience and leadership journeys.

An important element of our development framework, the Education Assistance Program (EAP) which was introduced in 2014 forms a large portion of our overall development investment. This programme is a testament to the Company’s commitment to strengthen and upskill our employees and continues to be a popular programme amongst our employees. A number of our employees are currently undergoing the Diploma of the MII (DMII) and Associateship of the MII (AMII) certifications as part of their professional development.

In addition to the above mentioned, MNRB, in its efforts to gain the strength of its diverse workforce, has also undertaken the following initiatives:-

  • Provides fair and equitable employment terms regardless of gender, ethnicity or age;
  • Gives equal opportunities for career advancement based on merit. This is supported by a well-developed performance appraisal system which is linked to rewards; and
  • Representation of women in management and senior management positions.

For Takaful IKHLAS’ agents, a variety of training programmes continue to be rolled out to ensure that our agents are of a high calibre, continue to conduct themselves in a professional manner, and have the necessary knowledge to serve our customers effectively.

Employee Health Initiatives

Employees’ health matters continue to be an important agenda in the Company. We continue to implement initiatives throughout the organisation to encourage a healthy and balanced lifestyle.

The one-week long MNRB Group Health Week campaign emphasises on the importance of preserving a work-life balance and educates employees on all aspects of health especially pertaining to the heart disease. MNRB Group Health Week comprises of free health screening packages, eye check-up, breast examination, Health Talk and food demonstration & nutrition counselling.

MNRB also held its first ever MNRB Healthy Heart Run to further encourage employees to adapt to a healthy lifestyle. The event took place at Perdana Botanical Garden, Kuala Lumpur and had attracted more than 300 employees and family members of MNRB.

Marketplace

ELEVATING THE MARKETPLACE

As one of the players in the reinsurance, takaful and retakaful industries, we understand the highly competitive and changing demands of the marketplace. With this in mind, we are committed to instil a higher degree of professionalism in the marketplace by helping develop more industry professionals to support the rapidly evolving industry landscape.

We are also focused in enriching the knowledge of the underwriters by according them with a flood risk analysis tool to mitigate exposure of their portfolios.

The Malaysian Flood Model (Re.Banjir)

Flooding is one of the most significant natural perils in Malaysia in terms of frequency and severity, extent and insured and economic damage. Knowing this, Malaysian Re has developed a Malaysian flood risk analysis tool, named Re.Banjir, for use by members of Persatuan Insurans Am Malaysia (PIAM) and the Malaysian Takaful Association (MTA).

Re.Banjir is based on a software developed using the most detailed data and methodology available. It includes rainfall and river gauge data spanning many years. This data had been processed and developed using state-of-the-art hydrological solutions and programming tools. Re.Banjir is able to simulate a range of potential insurance losses from mild local flooding to floods in excess of the 1-in-250-years return period.

Re.Banjir would allow Malaysian insurance and takaful companies to estimate flood exposure of their own portfolios. In addition, it would also allow them to better understand the effects of flooding on their portfolios, derive the Probable Maximum Loss (PML) to their portfolios for different return periods, quantify the financial implications and enable them to make informed decisions in relation to their reinsurance programming.

Stage 1 of the Flood Model, which covers the Klang Valley, was launched on 23 September 2013. Stage 2 of the Flood Model which covers the whole of Peninsular Malaysia was later launched on 14 September 2015. The necessary work for Stage 3 of the Flood Model which will cover East Malaysia is expected to commence soon.

Market Training Programmes

Over the years, MNRB had implemented various training programmes on insurance/reinsurance and takaful/retakaful for staff of insurance/takaful companies to enhance their professionalism within the industry. These programmes serve as platforms for participants to exchange ideas and update themselves with the latest industry developments.

We annually conduct the Technical Courses in Fire Risk Assessment and Special/Self Rating for underwriting and marketing staff of insurance companies. At the end of the training, these staff would be expected to know how to conduct risk surveys and determine fire premium rates for certain types of risks.

In September 2015, the 21st Programme for Insurance Executive Development (PIED) was organised for our domestic and international clients in Kuala Lumpur. The 2015 PIED covered four (4) classes of insurance, namely Fire, Marine Hull & Cargo, Engineering and Liability. PIED is designed for executives with at least two (2) years’ working experience in the insurance industry and who are well versed with theoretical knowledge of insurance in these four classes of insurance. The programme adopts a highly interactive approach, including illustrated case studies, to enable the participants to appreciate the practical application of what they have learnt.

October 2015 saw the successful kick-off to a pilot programme especially designed for young aspiring managers within our industry – The Young Emergent Leadership Showcase (YouLead!). This 5-day leadership showcase, focuses on effective leadership fundamentals, deciphering key industry issues and regulatory updates in the insurance industry. It also aims to provide a networking platform amongst peers to support their individual career growth within the insurance/takaful industry.

Environment

CONSERVING OUR ENVIRONMENT

Our sustainable efforts extend to undertaking initiatives that seek to educate various target audiences about environmental conservation as well as mitigating the impact of our business activities on the environment.

MNRB Ringgit Savvy Programme

A supplement to the MSAM exhibition, the MNRB Ringgit Savvy Programme, which was commenced in 2012, educates primary and secondary school students on money management and encourages them to be creative when undertaking money management activities. A new activity was introduced under MNRB Ringgit Savvy Programme called Eco Challenge. Through this activity, students were taught to create musical instruments out of waste products as a way of saving money. Students then competed to recreate the musical instruments using their own set of waste products and recycled materials.

Community

ENRICHING COMMUNITIES

We believe in creating value and empowering the communities around us to elevate lives and ensure a better future for all. In doing so, we lay a solid foundation for the younger generation to attain greater heights and to inspire them to become leaders of tomorrow through various community efforts which include scholarship programmes, seminars, workshops, study camps and sponsorships.

MNRB Scholarship Programme

The MNRB Scholarship Programme aims to encourage and promote education in the fields of insurance/takaful, Actuarial Science and Risk Management. By promoting these fields of study, MNRB is able to contribute to the increase of qualified and well-trained professionals in the Malaysian insurance and takaful industries in the long run.

The MNRB Scholarship Fund (the Fund) was established in 1998 with an initial start-up fund of RM1 million. Since its establishment, more than RM10 million has been contributed to the Fund and a total of 438 Malaysians have benefitted from the scholarship awards to further their undergraduate studies in both public and private institutions of higher learning.

As part of our efforts and commitment to develop young talent within the insurance/takaful industry, the Fund collaborated with the MII in 2007 to extend its scholarship programme to working adults within the insurance and takaful industries.

These scholarships are offered to staff of insurance and takaful companies who are keen to pursue professional insurance qualifications, namely the AMII and DMII, on a part-time basis.

Since the onset of our partnership with MII, the Fund has offered a total of 217 scholarships to young working adults. The knowledge that our scholarships are helping to produce more competent and qualified professionals in the Malaysian insurance and takaful industries shows our emphasis on education and human capital development. It reflects our unwavering commitment towards the continuous growth of not only our people, but also all those within the industry.

 

Program Lestari Cemerlang MNRB

The Company’s adopt-a-school programme, Program Lestari Cemerlang MNRB was created in 2011 to show support to our local education system. This programme is a two-year partnership with selected schools aimed at improving the students’ academic achievement through extra educational activities and learning facilities. The selected schools are typically secondary schools located in rural areas with the majority of students coming from lower-income families.

A total of RM60,000 is allocated every two (2) years to cover various activities that benefit the students such as tuition classes, motivational talks, study camps, upgrade of school library and contribution of computers.

Minggu Saham Amanah Malaysia (MSAM)

MSAM is an integrated investment education programme organised annually by Permodalan Nasional Berhad (PNB) since year 2000 to educate Malaysians on investment and financial planning. MNRB has been a firm supporter of MSAM activities and PNB’s initiative in educating the Malaysian public on making smart investments. MNRB is also proud to be involved in MSAM activities and will continue to support PNB’s noble cause.

In addition to this, MSAM is also an avenue for MNRB to share with the investors and public, on its subsidiaries, businesses and products. This helps to promote and enhance MNRB’s image and presence as a public listed company.