Corporate Social Responsibility and Sustainability Challenges for a Bancassurance Company

Emanuele Marsiglia and Isabella Falautano

The Geneva Papers on Risk and Insurance - Issues and Practice, 2005, vol. 30, issue 3, 485-497

Abstract: This contribution originates from the ideas and discussions during the third edition of the Montepaschi Vita Forum on “The Paradigms of Value. Towards a Good Governance in Financial and Insurance Services: the challenge of ethics, transparency and trust”, which took place in Rome, 15 October 2004 and was organized by the MPS insurance pole in partnership with The Geneva Association and Ania. The Forum series are prompted by the awareness of the critical role and nature of the “paradigms of value” topic in the present competitive context of financial services. Value-creation mechanisms are key elements of financial and insurance services, both in the interests of shareholders and, in broader terms, of all stakeholders. The theme of the third Montepaschi Vita Forum was encouraged by the current uncertainty of the financial scenario, in which the rule-based system and the reliability and accountability of several interlocutors is being questioned. The basic assumption is that good corporate governance and corporate social responsibility (CSR) are gradually advancing from a “philanthropic” variant of corporate capitalism to strategic approaches for regaining the trust of clients and society in general. Their role as risk (and also social) managers means that insurers have to work out different models and mechanisms for good corporate governance and CSR in view of a new state of play among the various stakeholders involved. The narrow borderline between legally binding requirements and self-regulatory initiatives has to be borne in mind when addressing topics such as good governance and CSR. A cultural change is involved, transforming a “regulatory compliance” approach into a “regulatory plus” approach. This article focuses on the challenges that MPV, as an insurance company belonging to a banking group with a well-defined CSR strategy, faces in identifying and implementing coherent CSR initiatives and measures. The Geneva Papers (2005) 30, 485–497. doi:10.1057/palgrave.gpp.2510040

Date: 2005
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.palgrave-journals.com/gpp/journal/v30/n3/pdf/2510040a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/gpp/journal/v30/n3/full/2510040a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:gpprii:v:30:y:2005:i:3:p:485-497

Ordering information: This journal article can be ordered from
http://www.springer.com/finance/journal/41288/PS2

Access Statistics for this article

The Geneva Papers on Risk and Insurance - Issues and Practice is currently edited by Christophe Courbage

More articles in The Geneva Papers on Risk and Insurance - Issues and Practice from Palgrave Macmillan, The Geneva Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().