Ethics Institute: Supplemental Insurance Carrier

The Ethisphere Institute is a for-profit company that defines and measures corporate ethical standards, recognising companies that excel and promoting best practices in corporate ethics. Aflac, the number one provider of supplemental insurance in the United States, has been the only insurance company to make the institute's annual World's Most Ethical Companies list for seven consecutive years. Other health insurance providers named to the 2023 list include Blue Shield of California, Cambia Health Solutions, CareFirst BlueCross BlueShield, and Kaiser Permanente.

Aflac, the number one provider of supplemental insurance in the US, has been listed in Ethisphere's annual World's Most Ethical Companies list for 16 consecutive years

Aflac's appearance on the list is a testament to its guiding principle of "The Aflac Way", which prioritises respect, care, and transparency in its treatment of employees, partners, and customers. The company's dedication to ethical business practices extends beyond its direct stakeholders, as evidenced by its diverse, equitable, and inclusive initiatives, as well as its significant contributions to community development and environmental sustainability.

In 2022, Aflac launched an initiative to address the gaps in health insurance coverage, advocating for peace of mind for its customers. The company has also made substantial donations to support paediatric cancer research and address societal issues such as the opioid crisis in rural America and economic development. Additionally, Aflac has taken significant steps towards environmental stewardship, reducing its greenhouse gas emissions by 70% and building electricity use by over 50% since 2007.

Aflac's consistent recognition by Ethisphere highlights its long-standing commitment to social justice, ethics, and environmental responsibility. The company's inclusion on the World's Most Ethical Companies list not only reinforces its positive impact on society but also assures its customers and partners of its dedication to treating policyholders and shareholders with honesty and integrity. This alignment of ethics and profits sets Aflac apart and contributes to its success as the leading provider of supplemental insurance in the US.

Blue Shield of California, despite being embroiled in a major public scandal, was named one of the World's Most Ethical Companies by Ethisphere in 2023

Blue Shield California, a nonprofit health plan, has been recognized as one of the World's Most Ethical Companies by Ethisphere for 11 out of 12 years, most recently in 2023. The company has been praised for its commitment to ethical behaviour and its values of being human, honest, and courageous. With over 7,800 employees, Blue Shield California strives to provide quality healthcare that is sustainably affordable for everyone.

Despite this recognition, Blue Shield California has also been embroiled in a major public scandal. In 2021, it was revealed that the company had contributed $500 million to the Blue Shield California Foundation since 2002, with a significant portion of this amount coming from rate increases for customers. This sparked outrage among customers and the public, who felt that the company was profiting from increased rates while promoting itself as a nonprofit organization. The scandal led to widespread criticism and negative media attention for Blue Shield California.

The company also faced scrutiny for its role in the COVID-19 pandemic response. As the state of California's largest nonprofit health plan, Blue Shield California was expected to play a crucial role in managing the pandemic. However, there were allegations that the company fell short of its responsibilities, particularly in the early stages of the pandemic. Issues with testing and contact tracing, as well as delays in vaccine distribution, contributed to a perception of mismanagement and further damaged the company's public image.

Despite these scandals, Ethisphere continued to recognize Blue Shield California as one of the World's Most Ethical Companies. This decision was based on the organization's assessment framework, which considers over 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives to support a strong value chain. Ethisphere's CEO, Timothy Erblich, emphasized the importance of ethics and integrity, stating that companies that demonstrate these values elevate standards and expectations for all.

While Blue Shield California has been recognized for its ethical behaviour, the scandals it has faced serve as a reminder that even companies with strong ethical reputations can fall short of public expectations. It underscores the importance of transparency and accountability in maintaining public trust, especially in industries as crucial as healthcare.

The Ethisphere Institute is a for-profit company that defines and measures corporate ethical standards and recognises companies that excel

Ethisphere publishes the quarterly Ethisphere Magazine and announces its World's Most Ethical Companies award once a year. The company also offers verification services for corporate ethics under names such as "Ethics Inside Certification" and "Compliance Leader Verification". It hosts the Global Ethics Summit every March in New York City and manages a community of compliance, ethics and legal professionals known as BELA, the Business Ethics Leadership Alliance.

Ethisphere's World's Most Ethical Companies award recognises companies spanning numerous countries and industries for their commitment to business integrity. The selection process involves a qualitative and quantitative assessment across five categories, known as the Ethics Quotient (EQ). This framework evaluates a company's performance in an objective, consistent, and standardised way using over 240 multiple-choice and text questions. The five categories assessed are:

• Ethics and Compliance Program
• Culture of Ethics
• Corporate Citizenship and Responsibility
• Governance
• Third Party Management

In addition to the EQ questionnaire, supplemental documentation is also considered, and independent research is conducted into the organisation's reputation and litigation history. The final EQ score is evaluated relative to the company's peers, structure, size, and operating environment.

Ethisphere has been criticised for its business model, as companies pay for an assessment, creating a potential conflict of interest. Ethisphere's assessments are based on self-reported data and surveys, and some companies recognised as "most ethical" have been involved in major public scandals. Recognised companies often advertise for Ethisphere and pay additional licensing fees to use the World's Most Ethical Companies logo.

Despite the criticism, Ethisphere's data and resources are valued by many companies, including Eaton and CareFirst BlueCross BlueShield, for their credibility and ability to provide insights and improvements for ethics and compliance programs.

The institute publishes Ethisphere Magazine and hosts the Global Ethics Summit every March in New York City

The Ethisphere Institute is a for-profit company that defines and measures corporate ethical standards, recognises companies that excel, and promotes best practices in corporate ethics. The company publishes Ethisphere Magazine and announces its World's Most Ethical Companies award once a year. The magazine includes the globally recognised World's Most Ethical Companies Ranking™. The company also offers verification services for corporate ethics under names such as "Ethics Inside Certification" and "Compliance Leader Verification".

Ethisphere Magazine is a quarterly publication that provides the only third-party verifications of compliance programs and ethical cultures. The magazine also features profiles of past honorees, offering helpful insights and resources for companies looking to improve their ethical practices.

In addition to the magazine, Ethisphere hosts the Global Ethics Summit every March in New York City. The summit brings together business executives from global and domestic companies for panel discussions and collaborative opportunities. The summit recognises companies that demonstrate strong ethical practices and governance, with honorees serving as role models for other organisations seeking to improve their ethical standards.

The Global Ethics Summit is a two-day program that includes various panel discussions and collaborative sessions. The event provides a platform for companies to showcase their commitment to ethical business practices and share their experiences with their peers. The summit also offers networking opportunities for participants to connect and learn from each other.

Through initiatives such as the magazine and the summit, Ethisphere plays a crucial role in promoting ethical business practices and recognising companies that demonstrate a dedication to integrity and social responsibility. By providing resources, insights, and a platform for discussion, Ethisphere empowers organisations to strive for higher ethical standards and create positive societal impact.

The institute's Executive Chairman, Alex Brigham, founded the institute in 2007 as part of Corpedia, a compliance training company

The Ethisphere Institute is a research-based international think tank that creates, advances, and shares best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. The institute was founded in 2007 by its Executive Chairman, Alex Brigham, as part of Corpedia, a compliance training company.

Brigham has also been referred to as the Executive Director of the Ethisphere Institute. The institute publishes the Ethisphere Magazine and awards the World's Most Ethical Companies recognition to deserving companies annually. The institute also offers verification services for corporate ethics, such as the "Ethics Inside Certification" and "Compliance Leader Verification".

In 2010, Corpedia was sold, but Ethisphere's ownership was retained by Brigham. The institute has been criticized for its business model, as there is a possible conflict of interest when companies pay for an assessment. Despite this, the Ethisphere Institute has become a leading organisation in its field, with Tim Erblich as its current CEO.

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