The Golden Peacock Awards were instituted in 1991 by the Institute of Directors (IOD), now regarded as a benchmark of Corporate Excellence worldwide, are presented annually to recognize the best Corporates through competition. Chola MS has been awarded the Winner under the Sector – “Insurance (General)”, at the Awards presentation ceremony as part of the "Global Convention on Corporate Ethics & Risk Management" held recently at Hotel InterContinental, Singapore. The other winners in this category include State Bank of India, ONGC Videsh, L&T Finance Holdings etc.
Speaking on the milestone, Mr. S. S. Gopalarathnam, Managing Director, Chola MS, shared, “We are honoured to be recognized as a winner of the “Golden Peacock Award for Risk Management” for the year 2017. The award holds even more value as we complete 15 years of existence. At Chola MS, the company’s T3 philosophy guides work in everything we do – T3 stands for TRUST, TRANSPARENCY and TECHNOLOGY. This award is a valuable testimony to the core principles and values that drive the culture for us at Chola MS. This award will stimulate and help the company to rapidly accelerate the pace of stakeholder-oriented improved processes in the area of 'Enterprise Risk Management'."
The shortlisting process followed by IOD is quite robust and the final selection was made by through a 3-tier Assessment Process. Each of the applications were reviewed by assessors independently, and was later discussed by the committee for normalization of assessments/reviews. The applications were assessed on an exhaustive set of self-assessment parameters, for a total score of 1000 marks.
About Chola MS General Insurance Company Limited
Chola MS General Insurance Company Limited is a Joint Venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan.
Chola MS offers a wide range of insurance products that include Accident, Engineering, Health, Liability, Marine, Motor, Property, Travel and Rural insurance for individuals and corporates. In 2017, the company crossed a Gross Written Premium (GWP) of INR 31332 million. Chola MS GI currently has 107 branches and over 30,000 agents across the country.
Chola MS GI champions a brand philosophy called T3, which stands for Trust, Transparency and Technology. It has also been consistently recognised and awarded by the Government of India, international entities and ratings agencies for its insurance service and delivery innovations.
