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19 October 2020MR. CRISOLOGO D.P. IGNACIOActing ChairpersonATTY. JOVY C. BERNABEPresidentPHILIPPINE CROP INSURANCE CORPORATION (PCIC)7/F, Building A, NIA Complex, EDSA,Diliman, Quezon CityRE : VALIDATION RESULT OF PCIC’S2019 PERFORMANCE SCORECARDDear Chairperson Ignacio and Pres. Bernabe,This is to formally transmit the validation result of PCIC’s 2019 PerformanceScorecard. Based on the Governance Commission’s validation of the GOCC’sdocumentary submissions, PCIC gained an overall score of 97.72% (See Annex A).The same is to be posted in PCIC’s website, in accordance with Section 43 of GCGMemorandum Circular (M.C.) No. 2012-07. 1ln relation to the grant of 2019 Performance Based Bonus (PBB) to eligible officersand employees, PCIC can grant such incentive only upon receipt of confirmation letterfrom the Governance Commission. ln this regard, the Board is reminded that anyunilateral action to release the PBB before the confirmation will be considered as aviolation of the Board's fiduciary duty to protect the assets of the GOCC as providedunder Section 19 of Republic Act No. 10149. 2FOR YOUR INFORMATION AND GUIDANCE.Very truly yours,cc:12COA Resident Auditor – PCICCode of Corporate Governance for GOCCS, dated 28 November 2012.GOCC Governance Act of 2011.
Annex APHILIPPINE CROP INSURANCE CORPORATION (PCIC)Validated 2019 Performance ScorecardComponentObjective/MeasureSO 1TargetFormulaWt.2019GOCC SubmissionActualRatingGCG ValidationScoreRatingSupportingDocumentsStabilize the Income of Agricultural Producers 2019ExecutiveSummary(Generated on22 June 2020)Amount of Cover(P %SOCIAL IMPACTSM 1Remarks Highlights ofRegionalOperations perInsuranceLines and perProgram forCY 2019The following is the breakdownof the amount of cover per fundsource (in P 7139,881.341,315.38556.3315,005.78107,435.54The other DA programs andprogramswerespecialexcluded in the target-settingsince the downloading of theircorresponding budgets wasnot within PCIC’s discretion.Hence, P4.67B was excludedin the validated score.Breakdown per insurance line:SM 2Share of smallfarmers andfisherfolk withagriculturalinsurance to totalnumber of farmersand fisherfolkincreased(in percent)Total number ofunique farmersand fisherfolkenrolled/ Totalnumber offarmers andfisherfolk listedin RSBSA0%Sub-total15% rated on22 June 2020)Insurance LineRiceCornHigh 5,671253,763335,10840,1414,4931,630,831496,576 farmers and fisherfolkwith DA-approved insurancecoverage but listed under theNon-RSBSA component of theAgri-Agra were excluded in thevalidated score.
P C I C 2 of 4Validated 2019 Performance ScorecardComponentObjective/MeasureSO 2CUSTOMERS / STAKEHOLDERSSM 3TargetFormulaWt.2019GOCC SubmissionActualRatingGCG and the Number of Farmers and Other Agricultural Stakeholders InsuredPercentage ofSatisfiedCustomersNumber ofrespondentswhich gave atleast aSatisfactoryrating / Totalnumber ofrespondents10%90%96.46%10%96.46%10% DevelopmentAcademy of thePhilippines(DAP) FinalReport of PCICStakeholderSatisfactionSurvey Copy erfolkSample size1,300Data l1 round %96.83%2nd round %96.14%stNumber of Subsistence Farmers EnrolledThese farmers are enrolled inthe following programs:RSBSAAgri-Agra Funda. er ofeligible farmersenrolled / No. offarmerstargetedSM 4b. 50,40310%40% 2019 ExecutiveSummary(Generated on22 June 2020) Highlights ofRegionalOperations perInsurance Linesand per Programfor CY 20191,630,831608,234The 57,398 difference from theaccomplishment submitted byPCIC is attributed to farmersand fisherfolks insured underSpecial Programs which wasnot included in the target.The farmers are categorizedper insurance line:High 91,390244830,840850,403
P C I C 3 of 4Validated 2019 Performance ScorecardComponentObjective/MeasureSO 3FormulaWt.2019GOCC SubmissionActualRatingGCG ValidationScoreRatingSupportingDocumentsSM 6RemarksIncrease Revenue GenerationPercentage ofutilizedGovernmentPremium Subsidyfor farmers (P M) Summary ofUtilized Budget/ GPS 76%(5,401.603)15%GPS as of 31Dec. 2019 GPS Utilizationper RegionFINANCESM 5TargetEBITDA (P M)AbsoluteAmount5%255.6223907.5155%929.2875% COA-auditedIncomeStatementPCIC Board issued ResolutionNo. 2020-024 dated 10 March2020 releasing P315 Millionfund to augment the RSBSAGPS. Moreover, additionalAgri-Agra Fund of P1.3 Billionwas received in December2019, further augmenting thebudgeted amount.Out of the P5,488.291M totalutilization, only P5,401.603Mwas traced to the RSBSA andAgri-Agra Fund, while theremaining P86.688M is fromSpecial Programs, which wasnot included in the targets forthe year.The PCIC submission did notadd back its depreciation andamortization. Thus, using theCOA-audited net income,computation of EBITDA is asfollows:ParticularsNet IncomeAmt (in PM) 0%20%20%17.558.640 929.287
P C I C 4 of 4Validated 2019 Performance ScorecardComponentObjective/MeasureSO 4INTERNAL PROCESSSM 7SM 8SM 9TargetFormula2019ActualRatingGCG rove Efficiency and Effectiveness of Systems and Procedures for Implementing the Agricultural Insurance ProgramsPercentage ofcomplaintsresolved within 10days *No. ofcomplaintsresolved within10 workingdays over Totalnumber ofcomplaintsreceivedPercentage ofclaims processedwithin 20 daysNo. of claimssettled within20 days overTotal number ofclaims receivedwith completedocumentsISO 9001CertificationMilestoneSubtotal*Wt.GOCC Submission5%90%96.28%5.00%96.30%5% MonitoringCompliance rate is at 96.30%or 1,355 out of the 1,407complaints received. Sample*Approval of PCIC’s compliancewith Ease of Doing Business Act(R.A. 11032) is still pending.report perregional officecomplaintsfrom Regions Monitoring10%90%70.46%7.83%70.46%7.83%report perregional office Sample claims*Approval of PCIC’s compliancewith Ease of Doing Business Act(R.A. 11032) is still pending. Certification byCertification issued on 30September 2019 is valid until27 December 2021, subject toannual surveillance audit.from Regions5%PassedSurveillanceAudit20%Subject to compliance with the Ease of Doing Business Act (R.A. 11032).PassedSurveillanceAudit5%(September16-18, 2019)17.83%PassedSurveillanceAudit5%17.83%For 2019, 278,743 out of395,583 total number of claimsfiled were processed within theprescribed period.TÜV Rheinlanddated 30 Sept2019
P C I C 5 of 4Validated 2019 Performance ScorecardComponentObjective/MeasureLEARNING AND GROWTHSO 6SM 10TargetFormulaWt.2019GOCC SubmissionActualRatingGCG ance the Human Resource ManagementPercentage ofemployees withrequiredcompetencies metIncumbentsmeetingrequiredcompetencyover FilledplantillaSub-totalTOTAL CompetencyBased HRSystems Manual5%Improvementfrom 2018ScoreCreated dBaseline(17.89%)- RevisedCompetencyFramework CompetencyAssessmentResult of HeadOffice and 13Regional Offices97.72%(92.83/95)Measure excluded.The GCG recommended in2018 the revision of PCIC’scompetency framework. PCICthen re-established its baselinein 2019 based on the revisedcompetency framework. The“improvement” target from there-established baseline willonly be applicable in 2020.34 out of 190 employees mettheir required competencies.
PHILIPPINE CROP INSURANCE CORPORATION (PCIC) Validated 2019 Performance Scorecard . Component Target GOCC Submission . GCG Validation Supporting Documents Remarks Objective/Measure Formula Wt. 2019 Actual Rating Score Rating SOCIAL IMPACT SO 1 Stabilize the Income of Agricultural Producer
