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PDIC’s claims settlement operations now ISO 9001:2015 certified

July 9, 2018

The Philippine Deposit Insurance Corporation’s (PDIC) Quality Management System (QMS) for Claims Settlement Operations (CSO) has been certified under ISO 9001:2015 standards following its continued certification under ISO 9001:2008 standards for nine years since 2010. TÜV Rheinland Philippines, Inc. awarded the certification to PDIC after its audit in May. The certification affirms PDIC’s commitment to improve its service delivery to the depositing public by constantly enhancing its CSO in step with global best practices.

TÜV Rheinland Philippines, Inc. cited that PDIC has established and maintained an effective system to ensure compliance with its policy and objectives; and its management system complies, adequately maintains, and implements the requirements of ISO 9001:2015 standards. The audit also revealed that PDIC had no non-conforming practices.

The initiative of PDIC to improve its services in support of the QMS as reflected in the Strategic Initiatives of the Corporation has always been a priority. The depositor-customers of PDIC as a result of bank closures are more and more satisfied with the efficient delivery of their insurance proceeds. This is manifested by the survey results where the “Very Satisfactory” average rating of customer’s evaluation was maintained for consecutive years. The audit also cited PDIC’s recognition in achieving the highest score on the Corporate Governance Scorecard for Government Owned and Controlled Corporations (GOCCs) and winning the Public Relations Society of the Philippines’ Gold Anvil Award for its 2016 Annual Report.

The QMS on CSO involves pre-settlement examination, claims processing and settlement, information dissemination, and the processes supporting CSO which are on planning, risk management, comptrollership, document management, infrastructure management, human resource management, training and awareness, and legal processes. Two other PDIC main frontline services, Assessment of Member-Banks and Loans Management, are scheduled in July for surveillance audit with upgrade to ISO 9001:2015 standards.

TÜV Rheinland Group, founded in 1872, is a global provider of technical, safety, and certification services with headquarters in Germany and operates in 520 offices in 69 countries.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PHP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

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PDIC is a government instrumentality created in
1963 by virtue of Republic Act 3591, as amended,
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protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability
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