Standard Insurance Awarded Best Non-Life Insurance Company in the Philippines for 2016
Last October 31, 2016, Standard Insurance was named Best General Insurance Company in the Philippines for 2016 by World Finance magazine of the United Kingdom. Standard Insurance received the same award in 2013 and 2014.
Standard Insurance was cited as being recognized globally for its excellence in insurance services and innovations, and in meeting the growing demands of the insurance industry.
According to World Finance, “Insurers have been faced with game-changing disruptions this year as non-traditional operating models take hold. The World Finance Global Insurance Awards celebrate those players embracing the challenges. Now as ever, the standout performers are the most willing to embrace change.”
World Finance, The Voice of the Market, a leading print and online financial magazine in London, has established a global reputation for journalistic excellence and the World Finance Awards are recognized in the financial press as the benchmark of achievement and innovation in a variety of fields, globally.
Standard Insurance Chairman Patricia Echauz-Chilip stated, “We are constantly improving our operation, innovating our systems and reinforcing our reinsurance in order to service our clients as efficiently as possible. We also have reciprocal partnerships with our car dealer tie-ups so we can respond to motor claims on a nationwide scale. We maintain the highest paid-up capitalization at P1 billion as well as keep A-rated reinsurers in order to respond quickly to large property claims such as Steelcorp, or large Natural Catastrophe Claims such as Ondoy or Yolanda.”