New Allianz Centre For Governance Launched To Combat Corruption

2024-12-12

In a significant move towards enhancing governance practices, Allianz Malaysia Berhad (Allianz Malaysia) and Universiti Malaya (UM) have launched the Allianz Centre for Governance (ACFG). This initiative aims to foster research and public engagement in governance, emphasising business integrity and reform.

A Strategic Initiative

The ACFG, located at UM’s Faculty of Business and Economics, was inaugurated on 10 December 2024. The launch coincided with International Anti-Corruption Day, highlighting the centre’s commitment to combating corruption and promoting transparency. The Regional Chief Executive Officer of Allianz Asia Pacific, Anusha Thavarajah, stated,

This initiative reflects our understanding that large organisations like Allianz must lead by example, collaborating with governments, businesses, civil society, and the media to create meaningful change.

Anusha Thavarajah, Regional Chief Executive Officer of Allianz Asia Pacific

Enhancing Governance Quality

The UM Deputy Vice-Chancellor (Academic & International), Professor Dr. Yatimah Alias, expressed confidence that the ACFG would accelerate efforts to improve governance quality. The centre aims to ensure continued transparency and integrity in business practices. Allianz Malaysia has already implemented several initiatives to advocate for good governance, including:

Allianz Road Rangers: Launched in 2017, this initiative ensures a fair and transparent claims process for motor insurance customers, protecting them from exploitative practices and reducing motor insurance fraud.
Panel Workshop Revamp: In 2020, Allianz Malaysia conducted an open tender process to select authorised car repairers, enhancing transparency and service standards in the motor claims process.
Partnership with RasuahBusters: Allianz Malaysia joined forces with RasuahBusters, a grassroots movement dedicated to fighting corruption in Malaysia, demonstrating its commitment to ethical business practices.

Institutionalizing Efforts

The Chief Executive Officer of Allianz Malaysia, Sean Wang, highlighted that the launch of the ACFG represents a bold step in institutionalising efforts to combat corruption.

With the launch of the Allianz Centre for Governance today, we are taking the next bold step forward by institutionalising our efforts. Research-driven solutions, informed by data and expert analysis, are far more likely to lead to effective anti-corruption measures than reactive policies based on political pressure or popular sentiment.

Sean Wang, Chief Executive Officer of Allianz Malaysia

The launch of the ACFG marks a significant milestone in the collaboration between Allianz Malaysia and Universiti Malaya. This initiative underscores their commitment to enhancing governance practices, promoting transparency, and fostering ethical business conduct. Through research-driven solutions and public engagement, the ACFG is committed to combat corruption and supporting governance reforms, setting a new standard for integrity in the business world.

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