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In 1895, Sun Life Financial came to the Philippines from Canada, before the
establishment of the Republic of the Philippines, with its mission to give humanitarian
benefits of insurance to the Filipino people. When World War II broke out, operations
went underground, and the financial institution went on its way to pay post-war death
claims amounting to more than $1.3M, and has since then flourished to become a
respectable financial institution during economic crises and Martial Law. In 2000, the
Exchange with 194,000 shareholders at its initial listing. At the same year, the company
established two subsidiaries: Sun Life Asset Management Company Inc., that offered
mutual funds, and Sun Life Financial Plans Inc., which offered pre-need plans. As two
subsidiaries operated in success, the company expanded into provincial areas serving
more people, eventually taking the top spot in premium income in 2011. In 2015, the
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company received the ‘Life Insurance Company of the Year’ award at the 19th Asia
Insurance awards in Singapore, and the distinction of being the ‘Employer of the Year’
given by the Management Association of the Philippines. At present, Sun Life Financial
continues to be one of the top insurance companies in the country with a continuing
Vision
Mission
C. Core Values
INTEGRITY
We are committed to the highest standards of business ethics
ENGAGEMENT
We value our diverse talented workforce and encourage
their potential.
\
CLIENT FOCUS
We provide sound financial solutions for our clients and
VALUE
We deliver value to the clients and shareholders we serve and
D. STRATEGIC GOALS
strategic initiatives.
ABC1/affluent market.
E. STRATEGY
Sun Life Financial aims to provide clients with outstanding values. In line with
this, Sun Life Financial uses its Client Centric Model which drives a strong client
experience among the Four Pillars. This strategy allows the firm to put clients at the
the business models and leveraging data and analytic, building a disproportionate
share of top talent, wrapped in a winning culture; and, continuing of track record of
Sun Life Financial Company’s Client centric strategy has five key areas of focus,
which the firm are pursuing across each of its four pillars. They define how the firm
compete in its markets, extend their competitive advantages, fulfill our purpose and
support their ambition to be one of the best insurance and asset management companies
globally.
Client
Sun Life’s Clients are at the center of everything the firm do and are focused on
building lasting Client relationships and deepening the value to the firm’s clients by
providing quality products and services that deliver on Purpose. Sun Life Financial believe
this will allow them to maximize the value they are providing their Clients, and lead to
better business outcomes for Sun Life. Sun Life will achieve this through:
Distribution Excellence
The Clients will work with high quality distribution partners who put them at the centre
of what they do. They will engage Clients where, when and how they wish, in a
personalized way. Sun Life will continue to invest in its distribution capabilities, through
digital channels and by enabling the firm’s advisors, agents, partners and brokers to
Sun Life Financial Digital, Data & Analytics capabilities are critical, both to delivering
value to firms Clients and for efficiency and effectiveness, while respecting the Clients’
possibilities and services, Sun Life is investing in new capabilities across its businesses
to reach their Clients more effectively, drive efficiencies and explore new business
o Build and deploy new digital business models, such as the introduction of
and solutions, and enhance the firm efficiency, effectiveness and profitability
Financial Discipline
Sun Life Financial continued financial and risk management prudence, disciplined
capital allocation and strong execution will support the medium-term financial objectives
and allow them to meet the firm’s aim of top quartile total shareholder returns while
Delivering on the company’s strategy will require that the company maintain its focus
on attracting, retaining and developing the best talent, while also continuing to evolve
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talent and culture to manage the increasing pace of change. Specifically, Sun Life’s talent
o Build on the company high performance culture and support and reward
o Ensure that the company’s focus on its Clients becomes deeply embedded in
governance
sustainable, healthier communities for life - is a key initiative for the company and is
Sun Life Financial Company defines sustainability as taking accountability for its
social, environmental, and economic and governance impacts, risks and opportunities, in
ways that help to ensure long-term ability to deliver value to its Clients, employees,
Directors, focuses on four key areas within which it continue to deepen its commitment
Organizational Resilience
thinking, resilient and sustainable for the long term, so we it continue to meet the needs
Environmental responsibility
Sun Life Financial Company is accountable for the impact of its operations on the
environment, so it consistently taking steps to measure, manage and reduce that impact.
Community wellness
Sun Life Financial Company believes that by actively supporting the communities
in which it live and work, it can help to build a positive environment for their Clients,
stable operating platform for the company, and positions them to meet its obligations to
stakeholders. Pro-active risk management and an embedded risk culture are essential to
A. Level of Resources
Capital
Sun Life’s total capital consists of subordinated debt and other capital instruments,
2017, their total capital was $27.1 billion, up from $26.9 billion as of December 31,
2016. The increase in total capital was primarily the result of common shareholders’
net income of $2,205 million and the issuance of $400 million of subordinated
debentures was partially offset by the foreign currency translation impact included in
other comprehensive income (loss) of a loss of $737 million, the payment of $1,066
balancing the use of debt and equity financing. The financial leverage ratio for SLF
Inc., which includes the innovative capital instruments and preferred shares issued by
SLF Inc. as part of debt for the purposes of this calculation, decreased to 23.6% as of
Human Resource
In 2017, Sun Life have approximately around 34,000 employees, 112,900 advisors
worldwide. With an average of 1,300 employees, 4,300 financial advisors per service
area and counting, this enables Sun Life to have a wide service area, and fulfill their
part of the firm, employees are also encouraged to invest in funds and plans to further
Land
Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines,
Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda.
With wide coverage of financial services from all over the world, the Sun Life way of
service is carried out in various ways, but maintaining a mission of providing lifetime
financial security to clients. With imminent expansion in other countries, Sun Life
Entrepreneurship
Based on findings, there is a ratio of one advisor to 3-5 clients which is the lowest
and one advisor to one whole company which is considered the maximum. This creates
an optimum interaction from advisors to clients, and helps employees to focus their
selves on their clients, taking care of their financial needs in an optimal way. Marketing
strategies are employed in finding clients, reaching into traditional and digital ways.
With current plans of expanding into provincial areas, Sun Life is bound to have more
i. Underwriting Process
Underwriters are responsible for evaluating the risks associated with insuring
Using the risk and exposure data they gather, underwriters determine if the
appropriate risk classes. It also serves to protect the insurance company from
clients who misrepresent themselves fraudulently. Since clients are classified into
their appropriate risk class, insurance companies are able to keep their premiums
down and provide a majority of their clients with affordable insurance premiums.
Steps:
a) Collect Information
sex, state of health, family history, occupation, hobbies, lifestyle, etc. in order to
properly evaluate the potential clients. This information will vary depending on the
type of insurance policy for which the client is applying. It is possible therefore
which may also include blood, urine, ECG or X-ray. Additional requirements may
After the required information is gathered, the underwriter begins the process
disability.
For example, an individual diagnosed with terminal lung cancer has an almost
100% probability of death in the very near future. There is no realistic way an
insurance company could charge this person a reasonable premium to offset the
risk they present over such a short time horizon, and to try to spread the cost of
this person’s coverage among others with lesser risks would be grossly unfair.
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premium is charged for smokers than nonsmokers. It’s only fair. In addition, if the
smoker is overweight and has high blood pressure, the premiums charged will
reflect those additional risks. If the smoker shows additional health problems that
further increase the probability of death or disability, this person may not qualify
for insurance at all. But, if this very same smoker later quits smoking, loses weight
and the blood pressure is reduced, the insurance company will reconsider the
c) Identify Options
After the information has been analyzed, the underwriter works to identify the
options available for potential insurable clients. The Underwriter makes the
premium, which simply means client will be charged a normal premium. Or if the
client has some of the risk factors discussed above, he may be charged a higher
premium.
Finally, if the risk is too high – like the individual with terminal cancer – he may
be declined for insurance coverage. But in practice, less than 4% of all life
applications are declined and only about 5% require a higher than standard
premium. These options are related to the type of risk class to which potential
Standard - clients in this class are usually charged the standard premium
rate quoted in our proposal system for meeting the typical risk requirements.
Rated – this class generally represents clients who have an above average
risk. They are usually charged higher rates for premiums than clients in the
standard classes.
Postponed – clients are put in the postponed class temporarily until more
Declined - clients who are declined are those who pose an uninsurable risk.
Premium deposit will be refunded after the decline decision is made. Once
clients have been declined coverage, they typically have to wait at least 2
years before reapplying for insurance coverage through the company where
C. Organization Structure
JOSE ISIDRO N.
CAMACHO
Chairman, Board of
Directors
BOARD OF
DIRECTORS
BENEDICTO C. SISON
CEO and Country Head
ALEXANDER S. NARCISO
President and Chief Agency
Distribution Officer, Sun Life of
Canada (Philippines), Inc. (SLOCPI)
PESTEL Analysis
Political
o Trade Protectionist Policies of Trump Administration
entering the well speculated powers. Sun Life being a Canadian company may find
difficult market conditions for operating in the U.S as new regulations are likely to
be introduced that effect foreign companies. The new administration under Donald
Trump has withdrawn many trade agreements and is expected to make many more
The native companies will influence the political powers to stop foreign
companies from entering the country for business. When the local companies
Malaysia. There is a lot of competition and with these those two steps, they are
expanding their reach in Asia from five countries to seven and these countries
represents about 70% of the population about 90% of the growth in the firms’
Economical
native companies. Many times it is involving a third party to maintain quality of work
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with demand as per location and also collaborating with companies to maintain the
same. But already established individual companies are facing threat due to the
Sun Life Financial being a global company, political and economic uncertainty
globally is causing variations with fluctuations in the currency market. The values
keep fluctuating and hence depending on the country’s economic condition and
company’s margins the evaluation varies. By partnering with Sun Life it helps clients
to enhance their business, attract and retain top talent and help covered employees
protect what they love about their lives irrespective of the geographical location but
with costs depending on the currency value in the market. Sun Life is partnering with
Toronto MaRS Discovery District to gain access to a pipeline of health tech and
fintech start-ups.
Socio-Cultural
demand. It is also going to exert a special influence on the life insurance market in
other ways. Apart from exerting pressure on demand for goods and services, and
through that, ill effects of uncontrolled growth of population also could spur the
public support, or too many vehicles on the road can result in hazards like
stampedes and pollution, which require covers and still are not sold on a large scale
today. Thus the positive as well as the negative aspects of population growth are
Life style: The peculiar lifestyle of a country or an age also influences the
insurance business. Change therein produces different demands for life insurance.
For e.g. All over the world, family size is shrinking and the fact that in decades to
come, both presents are more frequently likely to work outside the home will mean
that there could be a greater possibility of property loss. Similarly, a larger number
of vehicles on the roads for people commuting to their jobs or business would mean
larger incidence of accidents. This will increase the demand for life
insurance products. Of course, there is also the other possibility that wherever it is
possible, some people will try to spend a part of their time working at home either
because they would like to be with their families or because they find it more
convenient. Activities like life insurance and financial services are particularly well
to spreading it far and wide. In addition, the government attempts to extent life
insurance with certain social obligations in view in both urban and the rural areas
through such means special schemes for the weaker sections, and by tilting of the
changes emerging in the country provide opportunities for insurers to sell financial
disability insurance, long-term care for senior citizens and different employee benefit
plans. The population in the age group 15-55 is usually regarded as the
insurable population, since this can be considered as the main “active” age group,
and beyond this range life risk may be considered to be not worth insuring.
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Technological
about the intrinsic value of insurance. He thinks of insurance only in the mount
rarely thought about. In such a scenario Internet can be an effective medium for
increase in the number of insurance companies there will be a need for market
product as well as suggestions for different types or covers can also be generated
The most important factor that is affecting the insurance industry is the
marinating the database of the customers. The insurance industry having a huge list
stupidity. With the change in time the computers has taken the work of this things.
Thus with the development of the technology it has becoming possible to maintain
such huge database very easily. A person can switch over to the computer and
get the details of the customer very easily. Thus maintaining the database has really
Legal
consumer laws, and trade structures to confirm frameworks within the industry. Such
structures are required for customers in the allocated country and for international
users.
The Sun Life Financial industry globally is impacted by several laws. It is also
a large employer and is affected by the labor laws. Legal risks are immense because
oversight and regulation are very high in this sector. In US alone, several laws have
been introduced to regulate this sector of the industry. Since the Federal Reserve
act of 1913, the Glass Steagall Act and the Dodd Frank several laws have been
Customer concerns and social responsibility have also made the government
Environmental
banking & financial services sector too just like other businesses. Energy
globally. The environment and technology go very much hand in hand here, as
their carbon footprint. Many services can now be reached at the click of a button –
reducing the need for administration and making the banking process more efficient.
Financial Services and Banking companies also publish their yearly environmental
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reports highlighting their critical achievements over the year in this area. It creates
industry and understand underlying levers of profitability in a given industry. Sun Life
Financial Company managers can use Porter Five Forces to understand how the
five competitive forces influence profitability and develop a strategy for enhancing
the firm’s competitive advantage and long term profitability in Life Insurance
industry.
New entrants in Life Insurance brings innovation, new ways of doing things
and put pressure on Sun Life through lower pricing strategy, reducing costs, and
providing new value propositions to the customers. Sun Life. has to manage all
these challenges and build effective barriers to safeguard its competitive edge.
How Sun Life Financial Company can tackle the Threats of New Entrants.
o By innovating new products and services. New products not only brings new
customers to the fold but also give old customer a reason to buy Sun Life‘s
products.
o By building economies of scale so that it can lower the fixed cost per unit.
entrants are less likely to enter a dynamic industry where the established
players such as Sun Life Financial, keep defining the standards regularly. It
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significantly reduces the window of extraordinary profits for the new firms thus
All most all the companies in the Life Insurance industry buy their raw
material from numerous suppliers. Suppliers in dominant position can decrease the
margins Sun Life Financial can earn in the market. Powerful suppliers in financial
sector use their negotiating power to extract higher prices from the firms in Life
Insurance field. The overall impact of higher supplier bargaining power is that it
How Sun Life Financial. can tackle Bargaining Power of the Suppliers
o Developing dedicated suppliers whose business depends upon the firm. One of
the lessons Sun Life Financial can learn from Wal-Mart and Nike is how these
and Nike.
Buyers are often a demanding lot. They want to buy the best offerings
available by paying the minimum price as possible. This put pressure on Sun Life
profitability in the long run. The smaller and more powerful the customer base is of
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Sun Life Financial the higher the bargaining power of the customers and higher
How Sun Life Financial. can tackle the Bargaining Power of Buyers
o By building a large base of customers. This will be helpful in two ways. It will
reduce the bargaining power of the buyers plus it will provide an opportunity to
o New products will also reduce the defection of existing customers of the firm to
its competitors.
There is no real threat of substitutes for the insurance industry When a new
profitability suffers.
How Sun Life Financial can tackle the Treat of Substitute Products / Services
o By continually being client and service oriented rather than just product oriented.
o By understanding the core need of the customer rather than what the customer
is buying.
If the rivalry among the existing players in an industry is intense then it will
drive down prices and decrease the overall profitability of the industry. Sun Life
operates in a very competitive Life Insurance industry. This competition does take
How Sun Life Financial can tackle Intense Rivalry among the Existing
o Collaborating with competitors to increase the market size rather than just
SPACE Analysis
The chart shows that Sun Life Financial Industry is competitive in nature,
because it falls out on the quadrant of a competitive strategy use by the industry.
FS
6
5
Financial 3.6
4 Strength (FS)
3 Competitive -3.67
Advantage (CA)
2
Environmental -3.89
1 Stability (ES)
CA 0 Industry Strength 3.83
IS
-6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 (IS)
-1
-2
-3
-4 X-Axis Y-Axis
-5 .16 -.29
-6
ES
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i) Traditional Insurance
Basic Plan:
Sun Start-Up
A 10-pay, non-participating life insurance product maturing at the end of 10
years. Maturity benefit is equal to 50% return of premium (ROP), where ROP
benefit is based on the original annual premium. Original annual premium is the
annual premium of the basic policy at policy effective date, excluding any rider
Face Amount, subject to the prior deduction of any outstanding advances (loans)
with interest, if the life insured is diagnosed to be terminally ill with a life
expectancy of 12 months or less. The sum of all Living Benefit Amounts payable
on all Sun Life policies of the life insured shall not exceed Ps. 2 Million. Interest
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The guaranteed cash value on the 10th policy year is the Return of Premiums on
Maturity.
Basic Plan:
Sun FlexiLink
A variable life insurance product payable until age 88. The living benefit is
equal to the fund value, which is partially or fully withdrawable from the policy's
share in the separate account(s). The death benefit is the higher of the sum of
the face amount and the fund value or the minimum death benefit. The minimum
death benefit is equal to 500% of the regular premium plus 125% of each paid
excess premium, if any, less 125% of each partial withdrawal, if any. No other
Bond Fund - The fund is designed to stay invested only in high-quality fixed
Equity Fund - The fund is designed to produce long term capital appreciation
through investment in high quality stocks that are diversified across sectors.
Money Market Fund (available only for fund switching/transfers) - The fund
My Future Fund - The fund is a target date fund that will invest primarily in
Note: The values illustrated below are not guaranteed. The investment returns
used are for illustrative purposes and are not based on past performance with
respect to the fund where your policy is linked. The returns are likely to change
during the investment period. Also, the assumed returns do not represent the
upper and lower limits of the actual return that may be realized. Values are
calculated assuming the fund is earning 4%*, 8%* and 10%*. It is assumed that
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the mode of payment is annual. If mode of payment is other than annual, values
under the same industry are competing against one another to gain an incomparable
market share, inter-industry relations between firms are growing to be a great solution
to the global business environment. As Sun Life Financial Philippines is one of the
leading insurance companies in the Philippines, the company is geared towards to lead
the industry in the Philippine market. In order to lead the competition, the firm is
partnering up with Lazada Philippines in offering insurance plans to the Filipino people.
Sun Life Financial is offering the “Family Armor” plan exclusively to registered Lazada
members. This partnership would lead to increase in market share of both companies when
registered Lazada members, who buy products from Lazada, will avail of the plan from Sun
Life. This will help the target market of both businesses to have their own family protection
F. Financial Viability
1. Financial Ratios
its performance in comparison of the past years and identify the company’s
A. Liquidity Ratio
Measuring the liquidity ratio allows Sun Life Financial Insurance Company
calculates the current assets against its outstanding liabilities. A high ratio signifies
a) Current Ratio
2017 2016
=
$146,139,000.00 $142,350,000.00
$139,749,000.00 $138,703,000.00
= 1.05 1.03
The Current Ratio for 2017 is 1.03 to 1. This means that for 2016, the
company has $1.03 of current assets that can be converted to cash to pay
every dollar of current liability. On the other hand, for 2017, the company
has $1.05 of current assets to cover every dollar of current liability that will
fall due.
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For 2017, the current ratio increased signifying more liquidity for the
b) Quick Ratio
2017 2016
= $ 8,890,000.00 $ 8,642,000.00
$139,749,000.00 $138,703,000.00
0.064 0.062
The quick ratio of Sun Life Financial Insurance is 0.062 for 2016 and 0.064
for 2017. This means that the company has $0.062 of quick assets for
c) Working Capital
= $ 3,647,000.00
= $ 6,390,000.00
million and $6.390 million in 2017. This means that for the year 2017,
B. Solvency Ratio
Measuring Solvency ratio allows Company to measure its ability to pay its
a) Debt Ratio
2017 2016
= $ 246,141,000.00 $ 235,870,000.00
$ 269,112,000.00 $ 258,238,000.00
= 91.5% 91.3%
From 2016 to 2017, Sun Life Financial Insurance Company’ assets are
heavily funded by the creditors. In 2016 91.3 % of the assets were finance
situation is risky for the company as the creditors owned most of the
assets.
b) Equity Ratio
2017 2016
= $ 22,971,000.00 $ 22,368,000.00
$ 269,112,000.00 $ 258,238,000.00
= 8.5% 8.7%
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Sun Life Financial Insurance Company’s equity ratio is 8.7% for 2016.
This slightly went down to 8.5% in 2017. This rates means that in 2016 &
2017 the owner only owns 8.7% and 8.5% respectively of the company’s
asset. This is way below the optimal fair ratio and is severely low.
2017 2016
= $ 246,141,000.00 $ 235,870,000.00
$ 22,971,000.00 $ 22,386,000.00
= 10.7% 10.5%
equity ratio increased. In 2016, debt equity ratio was 10.5, which means
that for every $1 dollar funded by the owner in the business assets, $10.5
was funded by the creditors. In 2017, debt equity ratio was 10.7 which
means that for every $1 dollar funded by the owner in the business
d) Working Capital
2017 2016
= $ 2,789,000.00 $ 3,445,000.00
$ 302,000.00 $ 619,000.00
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= 9.2 5.6
income before interest and taxes in 2016 and 9.2 times in 2017. The
can cover interest expense and is not struggling to its interest from loans.
C. Profitability Ratio
measure its overall efficiency and performance based on its ability to generate
2017 2016
= $ 2,789,000.00 $ 3,445,000.00
$29,334,000.00 $28,573,000.00
= 9.5% 12.1%
The Operating profit margin has obviously a downward trend. From 12.1%
in 2016 it went down to 9.5%. This means that Sun Life Insurance
Net Revenue
2017 2016
= $ 2,149,000.00 $ 2,485,000.00
$ 29,334,000.00 $ 28,573,000.00
= 7.3% 8.7%
The Net profit margin have been decreasing from 8.7% in 2016 to 7.3% in
2017. It means that the management lacks and need to exert more effort on
increasing its revenue and cut on expenses to improve net income for future
= $ 41,100,000.00
$ 19,427,000.00
= 2.12%
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Sun Life Insurance for 2017 has 2.12% of premium growth which indicates
indicates that clients entrust the firm more for covering their risk.
Net Premium
Formula =
Gross Premium
2017 2016
$ 15,281,000.00 $ 15,048,000.00
=
$ 19,838,000.00 $ 19,427,000.00
= 77% 77.5%
Sun Life Financial Insurance Company’s risk retention ratio slightly went
down from 77.5 % of level of risk retained by the insurer in 2016 to 77% of
level of risk retained by the insurer in 2017. The firm clearly takes a huge
Being able to analyze and interpret the whole data encoded in the
financial statements is a very important skill rather than just looking at it. With this
analysis, firm will be to understand, analyze and interpret the relationship of each
and every part and will also clearly indicate the transactions and situation that
happened in a period of time. This would also help the management to make
actions and solutions regarding important matters that the firm faces.
Sun Life Financial Insurance Company 39
Consolidated Statement of Financial Position
As of December 31 2017
Incr. Dec.
2017 % 2016 %
Assets
Cash, cash equivalents and short-term securities (Note 5) $ 8,890 3 $ 8,642 3
Debt securities (Notes 5 and 6) 72,619 27 71,887 28
Equity securities (Notes 5 and 6) 6,020 2 5,774 2
Mortgages and loans (Notes 5 and 6) 42,805 16 40,775 16
Derivative assets (Notes 5 and 6) 1,478 1 1,608 1
Other invested assets (Note 5) 4,154 2 3,931 2
Policy loans (Note 5) 3,106 1 3,141 1
Investment properties (Note 5) 7,067 3 6,592 3
Equity
Issued share capital and contributed surplus $ 10,911 4 $ 10,943 4
Shareholders’ retained earnings and accumulated other
11,410 4 11,013 4
comprehensive income
Total shareholders’ equity 22,321 8 21,956 9
Participating policyholders’ equity 650 0 412 0
share with the value of 39.96%, meanwhile the Great-West Lifeco Inc has 32.21%
market share. The lowest percentage of market share was the Industrielle Alliance,
Assurance et Services Financiers Inc. with 7.74% market share and the Sun Life
Financial has 20.10% market share, a though competition for Sun Life in the
Insurance industry.
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40
Market Share
35
30
25
20
15
10
5
Market Share
0
Sun Life Financial IAASF Inc. Great-West Lifeco Inc. Manulife
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Sun Life an insurance company that provide benefits for its customers. The
people behind this company aims not just to earn profits but also to give in return
and help individuals on the society who are in need, who does not have the
capability to study or attend to its health issues and etc.. Based on Sun Life
Foundation their goal was to “construct a brighter world”, promising like a sun that
gives hope to another day to come, by sharing to other people. Supporting charities
that advocate the similar reliance, which is a good foundation to continue and
spread the brighter future in the world. Their four pillars are education, health,
environment, as well as arts and culture. Concern with the responsibility of how
will a human live for the next hundred years and, what things was supposed to be
made, or what actions are considered to be done to make good changes not just
within the community but in the whole world. According to the Public Accountability
enable them to help millions of people (clients, families and individuals) that gives
satisfaction for them; working with Diabetes™ in terms of health and Making the
Arts More Accessible™ program that advocates the arts and culture.
EDUCATION
The need of a child to learn and his/her right to have an education - Sun
Life gives light to every youth who has lost years, hope for the brighter world
because of the burdens and challenges upon them. During the year 2013, Yolanda
one of the strongest typhoon who destroyed almost the entire province of Leyte
and Samar in Visayas and, thousands of people died, and thousands of people
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were losing their hope and dreams as the cyclone takes almost everything from
them. For children’s, who dreamed and has a bright outlook in life, get dull because
of the tragedy, but as a company whose purpose was to give back to people who
needed help, Sun Life gives another hope to the children’s, to continue their
dreams, to see the light despite of darkness. Rebuilding the schools that wreck by
the typhoon- the aspirations of the students awaken, Sun Life aims to touch people
lives, to share the light of the future, after the reconstruction of the classrooms
some people donated foods and new school supplies. Sun Life Financial
that’s why Sun Life Foundation increase their scholarships to be able to help more
young Filipinos especially those who wants to take critical course like mathematics,
Cebu, Central Mindanao University and the Mindanao State University. The
scholars are said to be receive the benefits of a 100% tuition fees per semester,
as well as book allowances per semester, worth P5, 000 and a P7, 000 monthly
allowance for everyday expenses. Sun Life also lend a hand to those projects that
will construct a new hope for some unprivileged children to know the value of life
HEALTH
Recently Sun Life, partner up with Diabetes Canada which their aim was to
raise awareness for having diabetes especially the type 2 of diabetes, can be
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Diabetes Awareness Campaign every month of November. Sun Life also supports
other campaigns about health by donating and being part of it. Sun Life marked
November 14 year 2017 as a "World Diabetes Day" by holding events that raise
awareness and help their clients to live a healthier life by being aware of the
charities that an industry supports, foundations that generate funds through the
help of other locals - As life is a necessary thing in the world, Sun Life values and
do medical missions, free check-ups for eye, dental, and other more that benefits
the unfortunate people, or those who lives far from the civilization. Sun Life also
improves the health issues within the work place, in an internal strategy, where
there are sub-elements that generates a mandated standard within the work. And
there were strategy that benefits not just the health of an individual but as a whole;
a program that won't just be focusing on a specific asset, but as well as the results
equipped youth to help other people. For a more active community and individuals,
Marikina City, in Philippines, the project would be building a park for wellness
activities.
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ENVIRONMENT
Being aware of the things that is happening around us, one of the major
problems and always the issue when it comes to environment - pollutions (water,
air, and land). Because of the abuse of humans on consuming the resources, some
Sun Life provides boats for fisherman in Visayas, where it is there primary
source of their income. Some of these individuals has the discipline to keep the
sea as is before they come. And Sun Life Foundation also participates and support
responsible of our actions, saves the dying nature. Only if people unite together to
Every arts and culture are loaded of a rich history, every details is a
treasure. Year 2017, as Sun Life welcome another prosperous chapter on their
life's by sharing music to everyone. Sun Life Financial Musical Instrument Lending
Library in Canada for its 150th celebration, it became successful and they establish
three more musical instruments lending library. Anyone are allowed to borrow as
long as you have a valid library card, free of charges. The main purpose was to
put it on the hands of individuals, to play a song of their life. Due to the abundant
creativity of individuals, each work of art is a treasure that should be valued and
appreciated.
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their salaries.
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are in.
This policy ratifies the zero tolerance policy of the Government with
regard to fraud and similar illegal actions. It also outlines the emphasis of
principle that a public office is a public trust, to repress certain acts of public
c. Republic Act No. 6713. Code of Conduct and Ethical Standards for
public office as a public trust, grants incentives and rewards for exemplary
service, lists prohibited acts and transactions and imposes penalties for
a. Deterring Fraud
confidential information.
corruption and anti- bribery laws in the countries where it operates. They
practices. With that said, they would have good recognition in its suppliers,
c. Right of Creditors
The principal creditors of Sun Life are its suppliers. At Sun Life, they
meet the business needs. It also states that their Strategic Sourcing team
identifies and evaluates potential suppliers, then negotiates with them and
contracts with them to obtain high- quality products and services efficiently
and cost- effectively. We evaluate the suppliers for the products and
services they provide and their demonstrated ability to meet our business
needs.
Respect for the privacy of the Sun Life Company customers and
customers.
a. Sun Life tolerates no fraud, its stakeholders expect all of Sun Life
any kind of dishonest or fraudulent behavior that might affect Sun Life, our
b. Sun Life have similar anti- corruption law which operated by many
c. Sun Life submits its audited financial statements and annual statement to
As these become public documents once they have been submitted to the
inform them of the financial situation. The company also provides its
representatives, and other people who create associations with us, and
divulgence of this data as laid out in the Sun Life Global Privacy
wards, our clients have the privilege to inquire as to whether we hold any
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close to home data about them and, provided that this is true, to survey it.
They may likewise have the privilege to know how we gathered the data,
how we utilize it, and to whom we have revealed it. Access to individual
data inside Sun Life is by and large confined to those representatives who
As climate change and global warming continues to threaten the world population,
the people need to know how to respond to risk in order to combat imminent and
possible economic downfalls. With the insurance company regarded as one the risk-
reducing investments, the industry would help influence and encourage people to
accumulators of risk, insurance companies should be able to start providing more plans
and investments for their clients to invest more on the firm, related to disaster and
accidental risks. This would help Sun Life to be able to gather more clients and gain
more revenues, and to be able to fulfill their goals of providing lifetime financial stability.