MIGDAL
A conversation with Anat Ofri, Corporate Social Responsibility Manager at Migdal Insurance, about the optimal way to direct your organization towards doing significant good. M igdal Insurance Ltd. has been volunteering with Ruach Tova’s corporate volunteering department for several years and has been carrying out
• Shifting the focus to social organizations If a certain social challenge arises, the company is not the expert, but rather the organizations. The company supports and partners with the organization in building an appropriate program according to its knowledge and best practices. Yet, the principle is to lead with intention. Leading innovation within the social sector, and social entrepreneurship Corporations have the ability to lead innovation in the social sector, so it is important to uphold this principle to support social development and social initiatives. The social sector gives rise to innovative initiatives, but often there is a financial limitation, or a lack of the necessary knowledge to even reach the pilot level. Companies have both the financial advantage and the know-how needed to support such initiatives. In addition, companies have room for error, and mistakes can be afforded. Companies can also withstand the vetting period for social projects, which non-profit organizations do not have. Thus, companies can contribute both financially and also can utilize their experts to volunteer their professional know-how.
many volunteer projects in various fields. • Focusing on areas in which the company/ organization has added value When choosing a social program to invest an organization in, it is recommended to choose areas related to the core business and expertise of the company. In the case of insurance, such as with Migdal, it is less relevant to invest in environmental-focused projects, but rather on focus areas that relate to the world of insurance. Insurance companies accompany individuals until retirement and well after; therefore promoting well-being and quality of life among the elderly population is viewed as more relevant and significant. Migdal already has extensive professional knowledge regarding the needs of elderly people and is able to provide a better response to these needs. Thus, it’s possible to leverage professional knowledge already dominant in the organization, or among its stakeholders, for example, insurance agents can accompany elderly people in financial planning and financial education.
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