There is nothing more beautiful than going out of one’s way to make life beautiful for another, let alone the whole nation. In this issue, CSR Malaysia catches up with Prudential Assurance Malaysia Berhad (PAMB) on its recent announcement to commit RM50 million towards the development of its Corporate Social Responsibility (CSR) programme in conjunction with its 90th anniversary in Malaysia this year. Through its various CSR programmes, it plans to reach out to 50,000 families in the next five years.
Aimed at building a financially literate and resilient Malaysian society, PAMB’s CSR programme is an extension of the insurer’s commitment to improving the lives of Malaysians and supporting the national agenda through sustainable efforts.
Its flagship CSR programme under the auspices of the Prudence Foundation, Prudential’s regional charitable arm, will focus on three core areas leveraging on PAMB’s key strengths to make a meaningful and long-lasting impact on society. The corefocuses of its CSR efforts are on financial protection for the urban low income households (LIH) with PRUkasih,financial literacy amongst youth and children with Cha-Ching, an award-winning edutainment programme and on disaster-preparedness.
Speaking at the launch of the PAMB’s CSR programme, Philip Seah, Chief Executive Officer of PAMB says, “As a responsible corporate citizen of Malaysia, we share the hopes, dreams and aspirations of fellow Malaysians. As we celebrate our 90th anniversary this year, we would like to commemorate this significant milestone by sharing with the Malaysian public our long term commitment in developing our CSR programme as a reinforcement of our commitment to supporting the country in its nation building effort.”
Piloted in 2011,PRUkasih is a free financial protection plan introduced by PAMB to support the Government’s initiatives in improving the lives of the urban LIH in the country. Through PRUkasih, eligible urban LIH from participating communities will receive temporary financial relief in the event that the main breadwinner is unable to generate income for the family due to an accident, illness or even death. Apart from covering their monthly rental and food needs, PAMB will also provide the affected family with cash for funeral expenses in the event the breadwinner passes away to help tide them over during a difficult time.
Following the success of the pilot program with the residents of PPR Sri Pantai, PRUkasih has since expanded to Fasa 8/9 in Sentul and most recently PPR Beringin Kepong and provided access to 4000 families in these three communities. With support from various local and national government agencies and NGOs such as PersatuanKebajikanGenerasiGemilang (PKGG), a not-for-profit welfare organisation; the National Council of Welfare and Social Development Malaysia (MAKPEM), DewanBandaraya Kuala Lumpur (DBKL) and the Ministry of Women, Family and Community Development (KPWKM), PAMB will be reaching out to 50,000 households through PRUkasih by 2018.To date more than 2,200 individualsare covered under PRUkasih and over 30 cases in claims have been paid out.
For its financial education programme, PAMB will reach out to 50,000 individuals through its award-winning educational programme, Cha-Ching. The programme developed by the Prudence Foundation is a multi-country musical animation that teaches children about the basic financial concepts of Earn, Save, Spend and Donate. It airs in eight countries on Cartoon Network and provides interactive learning resources for parents and children through its website. The programme will be adapted for schools and communities across the country to support and complement Bank Negara Malaysia andthe Ministry of Education’slong term effort in promoting financial literacy and inculcating the right values in our children in order to create a young generation of financially literate and responsible citizens.
To date, PAMB has reached out to over 700 students in two schools, twounderprivileged homes and two communities with Cha-Ching and its financial education programme targeted at secondary school students. Following the positive feedback from both teachers and students, PAMB is aiming to reach even more schools nation-wide.