Wisconsin's leading not-for-profit health insurance company is also the world's only health insurance company to earn this distinction
March 16, 2011
WPS Health Insurance, Wisconsin's leading not-for-profit health insurer and provider of affordable group and individual health insurance has once again been recognized by the Ethisphere Institute as one of the World's Most Ethical Companies. This is the fifth year Ethisphere, an international think-tank dedicated to the creation, advancement, and sharing of best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability, has published the WME rankings, which appear in Ethisphere Magazine's Q1 issue. Ethisphere reviewed thousands of nominations from companies around the globe. From these, it selected 110 honorees, including WPS—the only health insurance company in the world to receive this prestigious award.
"WPS is proud and honored to once again be recognized on Ethisphere's list of World's Most Ethical Companies. Earning this distinction—not just once, but two years in a row—sets WPS apart from our competitors as a leader in the health insurance industry and as an employer of choice."— Jim Riordan, President and CEO, WPS Health Insurance
This special designation is reserved for organizations that demonstrate outstanding commitment to ethical leadership, compliance practices, and corporate social responsibility. Securing a place on the 2011 World's Most Ethical Companies list is a significant achievement as this year was exceptionally competitive, with a record number of nominations and applications.
"Ethics and integrity are not only integral to the success of our business—they are at the core of our corporate values," said Riordan. "Our employees' commitment to the highest possible ethical standards has made it possible for WPS to foster an excellent reputation as an ethical company recognized by experts as among the best in the world."
Through in-depth research and a multi-step analysis, Ethisphere reviewed thousands of companies and selected 110 that surpassed their industry peers to appear on this year's list of World's Most Ethical Companies. The 2011 list features companies in 38 industries, including 43 companies headquartered outside the United States.
Other 2011 WME winners include such well-known international companies as American Express, eBay, Ford Motor Company, Adidas, Starbucks, PepsiCo, and Xerox Corporation.
"As companies strive to maintain a competitive advantage, good ethics translate into better business, and better business means better bottom lines. WPS Health Insurance recognizes the important role that principled practices play in brand reputation, which ultimately is the most valuable asset for a corporation," said Alex Brigham, executive director of the Ethisphere Institute. "Each year, the competition gets more intense for the World's Most Ethical Companies and this year was no exception, with a record number of organizations vying for this distinguished honor. Ethisphere congratulates WPS Health Insurance on being one of the World's Most Ethical Companies for 2011."
The methodology for the WME ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers, and customers.
Read about the methodology and view the complete list of the 2011 World's Most Ethical Companies.
About WPS Health Insurance
WPS was founded in 1946 by doctors committed to affordable, compassionate care. Today, WPS is Wisconsin's leading not-for-profit health insurer, offering affordable rates, flexible plans, and comprehensive physician networks to individuals, families, and businesses. Our plans include individual health insurance, family health insurance, high-deductible health plans, and short-term health insurance, as well as flexible and affordable group plans and cost-effective benefit plan administration for businesses. Our Medicare Companion is the #1-selling Wisconsin Medicare supplemental insurance. In addition, the WPS Medicare division administers Part A and B benefits for millions of seniors in multiple states, and the WPS TRICARE division serves millions more members of the U.S. military and their families. For more information about WPS Health Insurance, visit www.wpsic.com.
About Ethisphere Institute
The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement, and sharing of best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. The Institute's associated membership groups, the Ethisphere Council and Business Ethics Leadership Alliance, are forums for business ethics that include over 200 leading corporations, universities, and institutions. These groups are dedicated to the development and advancement of members through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures, Ethics Inside Certification®, Anti-Corruption Leader Verification, and Compliance Program Verification. More information on the Ethisphere Institute, including ranking projects and membership, can be found at www.ethisphere.com.