Cholamandalam MS General Insurance Company Limited has been awarded the prestigious "Golden Peacock Award for Risk Management" for the year 2017.
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 recognise 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 and Risk Management" held recently at Hotel InterContinental, Singapore. The other winners in this category include State Bank of India, ONGC Videsh and L&T Finance Holdings.
"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'," said S. S. Gopalarathnam, Managing Director, Chola MS.
The short listing process followed by IOD is quite robust and the final selection was made by through a 3-tier Assessment Process. Each application was reviewed by assessors independently, and was later discussed by the committee for normalisation of assessments/reviews. The applications were assessed on an exhaustive set of self-assessment parameters, for a total score of 1000 marks.
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