InLife does a 6-pear, wins Domestic Life Insurer of the Year - Philippines in the Insurance Asia Awards
InLife does a 6-peat, wins Domestic Life Insurer of the Year - Philippines in the Insurance Asia Awards
Insular Life (InLife) won its 6th Domestic Life Insurer Award – Philippines from the Singapore-based Insurance Asia Awards.
The award comes on the heels of a difficult year that saw many Filipinos’ and businesses’ recovery hampered due to the pandemic. However, InLife was able to bounce back in 2021 owing to measures it instituted that provided speed, convenience and clarity to its customers.
“Receiving this award for six consecutive years in good and bad times speaks to the continued relevance of the life insurance industry, more so in difficult and challenging years. For InLife, anchored on our stated mission of delivering a lifetime for good, this award is a testament of our consistency, endurance, and our faithfulness built over 112 years,” said InLife Executive Chairperson Nina D. Aguas in her acceptance speech.
InLife has been instituting changes that support its objective of becoming the Leader in Protection and Digitalization through strategic partnerships that promote a thorough understanding of its customers. With Total Experience Management Platform ALIDA and its Voice of Customer Programs, InLife believes it is on the right path toward adding value to its customers’ lives by developing empathic solutions to their specific needs. “Feedback is a gift from the giver. Proactively listening helps us understand better the customers’ sentiments. They tell us they are as invested in the company by taking the time to give us feedback, both positive and negative,” said Aguas.
Aguas also said that InLife is building a community that will serve as a vehicle for InLife to directly engage with its customers, and where the latter may share their ideas. “We are building a community of customers that can collectively or individually support or challenge our business strategies and initiatives. We want to let them know their voice matters, that they are making a difference, so they can help craft solutions for unmet expectations.”
InLife also looks at beefing up its digital transformation strategies through the following: building intuitive digital platforms and applications for its products, services, and onboarding processes; forging strategic partnerships with financial institutions in a spirit of “coopetition;” and exploring new technologies that will consistently improve interaction and deliver personalized experiences to its customers. “The last 3 years of the pandemic has caused many companies to adjust their game plan, including InLife. We went on overdrive on our digital transformation, and we continue to iterate as new conditions and scenarios unfold. We continue to partner and cooperate with both incumbents and start-ups to address a wider base,” said Aguas.
It also aims to continue reaching out to more Filipino women and “He-for-She” through its InLife Sheroes Advocacy and Movement, promoting women empowerment through its four pillars of financial literacy, health and wellness, women-specific solutions and connection to business and social networks.
The Insurance Asia Awards is organized by biannual publication Insurance Asia, which is part of the Charlton Media Group that publishes Singapore Business Review, Hong Kong Business, Asian Business Review, Asian Banking and Finance, Insurance Asia, Asian Power, and Health Care Asia, among others. Since 2016, it has recognized over 130 companies from 24 companies as the most acclaimed insurance firms in Asia.
Other News & Press Releases
With a career that spans decades, Megastar Sharon Cuneta has shown that thriving in a highly competitive industry requires more than talent. It also demands self-reinvention and continuous learning.
The Insular Foundation, the corporate social responsibility arm of Insular Life (InLife), recently celebrated its 54th anniversary by treating its scholars to an immersion of Philippine arts and culture at the Ayala Museum. It also spearheaded an art workshop and history lecture in partnership with the Ayala Foundation.
Critical illnesses such as cancer, heart attack and stroke come without a warning, often needing huge amounts for treatment, and derailing one's life. Resilience, InLlife's critical illness plan, can help put one's life back on track.
The Insular Foundation has partnered with the local government of General Tinio, Nueva Ecija and the Philippine Bamboo Foundation (PBF) for a sustainable environment project.
Insular Life (InLife) has improved its sales performance, jumping from 7th place at the end of the first quarter of 2023 to 5th place at the end of the first half of this year in terms of its New Business Annualized Premium Equivalent (NBAPE).
InLife received a Four-Golden Arrow Award during the ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) Golden Arrow Recognition Ceremony. The award, given by the Institute of Corporate Directors, is a testament to the Company's good governance. InLife is grateful to its policyholders, agency force, employees and stakeholders for the trust, and promises to uphold integrity, accountability and transparency at all times.