MCIS Life, Malaysia’s trusted life insurance provider, exemplifies its commitment to heightened environmental consciousness and social responsibility through leading various sustainability initiatives.
Aimed at fostering a positive impact on both the planet and society, Prasheem Seebran, Chief Executive Officer (CEO) and Managing Director of MCIS Life, states that these efforts reflect the company's unwavering commitment to environmental stewardship, social responsibility, and ethical governance.
Seebran affirms that sustainability is not just a buzzword at MCIS Life, but it is a core value that guides the company in its actions and decisions. The sustainability strategies planned reflect the company’s dedication to addressing environmental challenges, mitigating climate change and promoting social inclusion. They are meant to drive MCIS Life towards its passion and determination to create a brighter, more sustainable future for generations to come.
Balancing the 4 Pillars of Sustainability
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The company has established four pivotal pillars, meticulously designed to foster responsible practices and drive positive impact. These pillars include shared value creation, which focuses on socioeconomic development and climate change management; Environmental, Social and Governance (ESG) integration across all facets of operations; financial inclusion, which aims to empower underserved communities and lastly, strategic partnerships to amplify large-scale achievements with stakeholders.
What truly sets MCIS Life apart is its unwavering dedication to stakeholder engagement. Seebran mentioned that the company recognizes the importance of listening to diverse voices, employing a multi-platform approach which includes customer service centres, employee town hall sessions, and regular reporting to regulators and shareholders.
"By actively soliciting feedback and understanding stakeholders' evolving needs and perceptions regarding ESG aspects, we ensure that our sustainability initiatives are impactful and aligned with the expectations of our stakeholders.”
This commitment to transparency and dialogue underscores MCIS Life’s belief that green business practices are not just a responsibility but also a catalyst for long-term success and resilience in an ever-changing world.
A Dedication to Sustainable Initiatives
MCIS Life is dedicated to environmental sustainability through ambitious goals to cut carbon emissions and boost energy efficiency. "Reducing our carbon footprint is crucial in the fight against climate change and the protection of biodiversity. Therefore, we aim to achieve net-zero emissions by 2050 to build a sustainable future.
MCIS Life's dedication to biodiversity conservation is exemplified by the establishment of MCIS Life Legacy Forest in Sireh Park Johor Bahru in 2023. Over 6,000 endemic rainforest trees were planted at the park, which is expected to offset approximately 567 tons of carbon by 2029 as the trees mature. This initiative underscores MCIS Life’s responsibility to environment preservation and carbon sequestration, by planting endemic trees and restoring vital ecosystems that support biodiversity and wildlife conservation.
Best Practices in Corporate Governance and Transparency
Governance and transparency are integral to MCIS Life's sustainability framework, ensuring ethical conduct and regulatory compliance. Seebran stated that robust governance structures are established to oversee our sustainability initiatives and ensure accountability aligned with our commitment to environmental responsibility.
The governance framework, on the other hand, includes comprehensive training programs to ensure all employees understand their roles and responsibilities. Seebran believes that it is essential to empower employees with the knowledge and skills they need to uphold the company’s values and principles. Through regular training sessions and awareness programs, MCIS Life sets and promotes a culture of transparency, integrity, and accountability.
As part of this commitment, MCIS Life upholds Fair Treatment of Financial Consumers (FTFC) practices, ensuring that all business operations and communications meet the highest ethical standards. These principles guide decision-making, foster stakeholder trust, and strengthen the company’s reputation for integrity.
ESG at the Core: Leading with Sustainable Practices
Underpinned by a commitment to investing in people and communities., Seebran affirms MCIS Life’s pledge to employees through extensive staff training and development initiatives. This empowers them to drive positive change within the organization and beyond.
Echoing the belief that employees are the company’s most valuable asset, MCIS Life places strong emphasis on creating diversity and inclusion within its workforce, “We strive to create an inclusive work environment where everyone feels valued and respected, fostering a high-performance culture and organization excellence.”
In addition, all employees are encouraged to volunteer, as it offers significant benefits in various aspects. At MCIS Life, we believe that volunteering not only enhances morale and job satisfaction but also provides a deeper sense of purpose beyond everyday tasks, helping to cultivate a dynamic company culture. “By engaging in community initiatives, our employees directly contribute to addressing social issues and supporting causes aligned with our core values.”
MCIS Life's dedication to sustainability extends deeply into its insurance activities, where it implements initiatives integrating ESG principles into its core operations.
Acknowledging a gap in insurance coverage for Small and Medium Enterprises (SMEs), MCIS Life launched the SME Care+ product in September 2023. This innovative offering provides comprehensive coverage designed specifically for SME owners, offering flexible plan options and guaranteed rates for the first two years.
MCIS Life also offers the modular protection, a flexible insurance solution that allows organizations to customize coverage based on their specific needs ensuring cost-effective and comprehensive coverage. These include, amongst other coverages, death, total and permanent disability, critical illness, retrenchment and hospital income.
In conclusion, MCIS Life emphasizes on enhancing customer experiences through a combination of innovative solutions and personalized services, ensuring accessibility and convenience across touchpoints. This drives operational efficiency, boosts productivity, reduces costs, and enables the rapid development of innovative products and services tailored to customer needs.
MCIS Life also demonstrates its responsibility to viable investment practices by actively managing and mitigating ESG risks in its investment portfolio. With a commitment to only invest 10% in non-ESG business activities and continuously aligning investment criteria with evolving ESG standards, it not only integrates continuity into its business operations but also contributes to the advancement of long-term environmental and social objectives.
Initiating Change for a Better Tomorrow
Community engagement lies at the heart of its sustainability strategy, embodying the value of engaging with local communities through Corporate Social Responsibility (CSR) initiatives.
Seebran emphasized the importance of giving back to the communities they serve and the power of collective action and collaboration. Through partnerships with stakeholders, MCIS Life aims to tackle common challenges and foster impactful change within society.
Among others, the company initiated a Tree Planting Program in conjunction with Municipal Council of Petaling Jaya (MBPJ)’s Hari Terbuka Taman Jaya 2024. Senior management and employees of MCIS Life planted 60 saplings at Taman Jaya Park to provide a greener future.
The company’s community engagement initiatives span a wide range of activities, including education, health, and environmental conservation. One notable project, the MCIS Life Purple Truck project, launched in 2022, serves as a transformative endeavour aimed at addressing pressing health issues and improving access to healthcare services in underserved communities.
Partnering with the National Cancer Society of Malaysia (NCSM), this project brings basic healthcare services, including cancer screenings, such as clinical breast examinations, pap smears, and faecal occult blood tests. In addition, it offers educational sessions and free doctor consultations. The initiative further champions energy conservation by using solar power and ensuring accessibility with a wheelchair lift and handicap railing. The truck ensures inclusivity and ease of access for all individuals, further enhancing its impact on the society.
At the Relay for Life event organized by NCSM on 24th November 2024, MCIS Life made a meaningful contribution to the fight against cancer by offering complimentary cancer screenings to all participants, helping to raise awareness and promote early detection. To date, the MCIS Life Purple Truck has conducted over 21,000 screenings across Malaysia.
In 2024, MCIS Life was honoured with the prestigious Sustainability & CSR Award in the 'Community and Environment Care' category, recognizing its commitment to positively impacting communities.
Reaffirming Commitment to a Better Future
Seebran emphasized the importance of MCIS Life to remain steadfast in its pledge to creating a brighter, more sustainable future for all. "Sustainability is not just a goal, but it is a journey. Our dedication remains committed to driving a positive change and leaving a legacy of advancement for our planet and society.”
Through its comprehensive sustainability strategy, MCIS Life leads the charge towards environmental responsibility in Malaysia and inspires others to join the effort. “Together, we can build a more resilient, equitable, and sustainable world for future generations. We are proud to be part of this transformative journey, and we invite you to join us in shaping a better tomorrow,” concludes Seebran.
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About MCIS Life
MCIS Insurance Berhad (MCIS Life) stands as a beacon of trust in Malaysia's life insurance landscape, proudly commemorating 70 years of service since its inception in 1954. Recognized and regulated by Bank Negara Malaysia, MCIS Life has upheld its reputation for delivering innovative, reliable, and tailor-made life insurance solutions that offer robust protection and peace of mind to its esteemed customers.
With a network of 16 strategically located branches nationwide, MCIS Life is primed to cater to the diverse insurance needs of Malaysians from all walks of life. Its relentless dedication to customer service, coupled with a broad spectrum of life insurance products, epitomizes its commitment to safeguarding and securing the legacy of its customers and their families, today and for generations to come.
Since 2014, MCIS Life has been a proud member of the Sanlam Group, one of the world’s biggest internationally active insurance groups, adding to the strength and stability of the company. Sanlam is a pan-African financial services group listed on the Johannesburg, Namibian and A2X stock exchanges. Through its clusters: Life and Savings encompassing Retail Mass, Retail Affluent and Corporate business units; Sanlam Emerging Markets; Sanlam Investment Group; and Santam, the Group provides comprehensive and bespoke financial solutions to institutional clients and consumers across all market segments. Areas of expertise include life and general insurance, financial planning, retirement, investments, and wealth management. Established in 1918 as a life insurance company, Sanlam has evolved into the largest non-banking financial services group in Africa through its diversification strategy. For further information visit: www.sanlam.com
For more information about MCIS Life visit www.mcis.my and follow us on LinkedIn, Facebook, and Instagram.
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