Quality, service to community, and growth considered highest values
THE philosophy of the American firm, the Protective Life Corporation, helped attract the Lippo Group as it searched for a partner for the new life insurance venture.
Those values are listed in the firm's annual report and summed up by its three prominent values of Quality, Serving People, and Growth.
Its target for Quality, says: 'The heart of quality is integrity. Quality is the cornerstone on which all our activity rests - quality products, services, people, and investments. We strive for superior quality and continuous quality improvements in everything we do.' On serving people, it says: 'Serving people is vital. We find our ultimate reward in the service and support of three groups.' And on customers: 'Our customers come first. We prosper only to the extent that we create long-term relationships with satisfied customers.
'We do so in discerning their needs and responding to them, in providing high-value distinctive products, in prudent investment of policyholder funds, in systems, information and counsel which help our customers solve problems, and in prompt, accurate and courteous service which is the best in the business.' On stockholders, the firm says: 'Our stockholders provide the equity essential for our success.
'We are stewards of their investment and must return a profit to them. Profit is essential for implementing our commitment to quality, serving people and growth. It is a critical measurement of our performance.
'Our objective is to rank at the top of the industry in long-range earnings growth and return on equity.' The report also says: 'The accomplishment of our mission depends on all 'Protective people' working together.
'We want our people to enjoy their work and take pride in Protective Life, its mission and values.' The firm's says on the subject of growth: 'We are dedicated to long-term growth in sales, revenues and profit, not only for our stockholders, but for personal growth and development of protective people.
'We achieve growth through resourceful marketing, superior service.