Philippines: Insurer works with IFC to reach out to women
Source: Asia Insurance Review | Feb 2018
Philippines Risk Management
Insular Life, the first and largest Filipino life insurer, and the World Bank’s International Finance Corporation (IFC) have entered into a partnership to educate and offer risk-mitigating solutions for women in the Philippines.
Dubbed “Empowering the Filipino Sheroes”, the Insular Life-IFC programme aims to reach out to all women in the Philippines – career women, professionals, entrepreneurs, and most especially those looking for financial solutions to expand their businesses or who seek life protection, but currently have no access to financial instruments and life insurance, reported Manila Bulletin.
The programme will involve developing insurance products specifically designed for women, through specific coverage, bundling of insurance products, awareness campaigns, and developing add-on services.
IFC has been exploring partnerships with insurance companies in different countries interested in and committed to profitably increasing the uptake of insurance by providing customised risk-mitigating solutions for women. Insular Life has taken on this call from IFC, and is the first insurance company in Asia to partner with IFC on this programme to insure women.
Insular Life CEO Nina Aguas said: “As an inherently Filipino institution serving our countrymen for 107 years now, Insular Life has always looked out for ways to help improve the lives of Filipinos. So, if there is any insurance company in the Philippines that will embrace this programme, it is us.” A