BPI AIA introduces affordable insurance for everyone via the Messenger App

BPI AIA introduces affordable insurance for everyone via the Messenger App

Wednesday, November 30, 2022

Insurance firm BPI AIA (formerly BPI-Philam) has introduced “PamilyaProtect,” life insurance protection designed for everyone in mind. Available via Facebook Messenger, PamilyaProtect is a health, life, and accident insurance plan rolled into one to give the whole family the peace of mind they need right now.

“We have always pushed to offer protection products that were inclusive, allowing people from all walks of life to be able to get it quickly and affordably. More and more people need this protection daily. As our mission states, ‘we make sure that insurance is easy to get and easy to have for every Filipino, no matter what class they belong to.’ With PamilyaProtect, that has become reality. Now, insurance is for everyone,” said BPI AIA CEO Surendra Menon.

For less than Php 500 per month, a policyholder can already insure themselves for as much as Php 2 million, with a Hospital Income Benefit for the main insured at Php 1,000 per day of confinement due to sickness or accident and Accidental Death, Dismemberment, and Disablement Benefit. The coverage can also be extended to loved ones, including parents, a spouse or partner, children, or siblings, making it perfect for singles, couples, single parents, and even overseas Filipinos.

“You don’t need to spend a large amount to show your family that you love them. No matter who you are or where you are in life, there are myriad expressions of love and one of them is to secure your family’s future and provide them the most basic protection and medical needs, so that you are all prepared for whatever happens. At BPI AIA, we continuously evolve to empower our customers and give them the confidence to pursue their dreams and ambitions, all while enjoying the present with their loved ones,” said Menon.

PamilyaProtect is for all BPI credit and debit cardholders—they can be insured in less than 10 minutes by simply using their credit card or EMV-enabled debit card.

PamilyaProtect comes in two variants—Plan P1M and Plan P2M—that customers can choose from based on their budget and protection needs. To be eligible, the principal insured must be a BPI customer and is 18-64 years old. Meanwhile, eligible adult dependents are 18-64 years old and minor dependents are 14 days to 21 years old. The plan automatically renews annually.

The launch of PamilyaProtect allows BPI AIA to provide customers an opportunity to secure themselves and their families in a manner and channel that is familiar to Filipinos from all walks of life. This enables them to start their financial wellness journey at an affordable price and live worry-free towards healthier, longer, and better lives.

BPI AIA has always been recognized by the Insurance Commission as a top insurer in the Philippines. It carries over 70 years of local experience and the global strength of AIA Philippines (formerly AIA Philam Life), as well as the 170 years of solid trust and heritage of BPI.

Start securing your future with BPI AIA by visiting the PamilyaProtect Official Facebook Page.

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Allianz PNB Life ranked 3rd among life insurance companies based on latest PH Insurance Commission statistics

Allianz PNB Life ranked 3rd among life insurance companies based on latest PH Insurance Commission statistics

Thursday, November 10, 2022

Allianz PNB Life recently ranked third in terms of Gross Written Premium (GWP) and New Business Annualized Premium Equivalent (NBAPE) in the Philippine Insurance Commission’s (IC) latest performance report for the first and second quarter of 2022.

Allianz PNB Life has performed consistently year on year. In 2021, it ranked fourth under the same categories, while in 2020, the company was listed as 7th in GWP and 8th in NBAPE.

“Insurance penetration is only at 2% in the Philippines and remains one of the lowest in Asia. There is heightened awareness for the importance of insurance however and we continue to enhance our efforts to become the trusted insurance partner of Filipinos,” said Allianz PNB Life President and CEO, Alexander Grenz. “We are grateful to our customers and partners for choosing us every day and propelling our organization to the Top 3 position in both GWP and NBAPE especially considering how we were 10th and 11th respectively when I assumed the role of CEO in 2019.”

This announcement follows the release of the Allianz Global Wealth Report 2022, where data on the asset and debt situation of households in almost 60 countries can be found, including the Philippines. In the report, the Philippines was notable for its 10.4% increase in financial assets growth driven by pension and life insurance assets, the latter of which showed a growth of up to 13.0%.

Despite entering the market only in 2016, Allianz PNB Life has achieved remarkable performance among more established competitors. “This achievement is ultimately attributed to our hardworking and dedicated Allianz PNB Life employees and expert financial advisors aptly referred to as Life Changers,” Grenz noted. “Their strong commitment to our purpose of securing the future of Filipinos is the reason why we have significant strides in terms of over-all market ranking.”

Since 2019, Allianz has been recognized as the number one insurance brand in the world. As a leading insurance provider, Allianz PNB Life’s products and services are designed to meet the lifetime financial planning, wealth accumulation, and well-being aspirations of Filipinos. For more information, please visit www.allianzpnblife.ph.

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Allianz Global Wealth Report 2022 sees positive outcomes in financial asset growth and insurance coverage for PH

Allianz Global Wealth Report 2022 sees positive outcomes in financial asset growth and insurance coverage for PH

Thursday, October 27, 2022

 

Leading global insurance brand Allianz has recently released its Allianz Global Wealth Report 2022, which compounds facts and figures based on the asset and debt situation of households in almost 60 countries, including the Philippines.

According to the report, 2019 to 2021 saw an exponential boom in the growth of global financial assets, with bullish stock markets powered by monetary policy and an increase in private wealth among households. Asia (excluding Japan), Eastern Europe and North America stood out as major contributors to asset growth, and savings were powered primarily by bank deposits, insurance and pensions.

However, the inflation crisis due to escalating situations in Europe seems to have stifled the global economic recovery from the effects of the COVID-19 pandemic. Based on current estimations, global financial assets are set to decline by more than 2% this year, making it the first significant decrease since the 2008-2009 Global Financial Crisis (GFC). The projected increase in the next three years stands at only 4.6%, less than half the growth experienced in 2019 to 2021.

Fortunately, the Philippines remains one of the stronger players in Asia Pacific when it comes to financial asset growth. According to Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla, the Philippine economy is much stronger now in comparison to during the GFC. In fact, the country's gross domestic product (GDP) grew by 7.8% in the first half of 2022.[1]

Even amid rate hikes imposed by the US Federal Reserve System (US Fed) to combat inflation, Medalla stated the Philippine economy could remain stable, as long as appropriate policies are implemented.

Meanwhile, Department of Finance (DOF) Secretary Benjamin Diokno agreed with the ASEAN+3 Macroeconomic Research Office (AMRO) projection that the Philippines is expected to post the highest economic growth rate in the region, due in part to the reopening of the economy, domestic consumption, and infrastructure investment.[2]

In terms of gross financial assets, the Philippines has seen a 10.4% increase, primarily driven by the development of life insurance and pension assets. Insurance growth, in particular, rose by 13.0%. However, insurance penetration in the Philippines is still among the lowest in Asia.

“There is a massive need for financial protection and literacy in the Philippines, considering an insurance penetration rate of just around 2%. This translates to millions of Filipinos exposed to financial losses, and a protection gap that amounts to trillions of pesos,” said Allianz PNB Life’s Chief Financial Officer, Fang Siong Chong. “But as observed, Filipinos are gradually investing in insurance protection products. In 2021, the Insurance Commission reported the annual growth rate in premiums earned was at its highest since 2016 at 25.03%.[3]Whether it’s through the realizations made during the pandemic, or because a new generation of Filipinos are thinking more about securing their future, we are confident that the insurance gap will continue to diminish.”

As one of the leading insurance companies in the Philippines, Allianz PNB Life plays a major role in closing the insurance gap. It ranked Top 4 in terms of Gross Written Premium (GWP) and New Business Annualized Premium Equivalent (NBAPE) in 2021, and in the latest ranking by the Insurance Commission for the first quarter of 2022, the company rose to occupy the Top 3 spot for GWP and NBAPE.

Allianz PNB Life is also strong in its efforts to further improve financial literacy and access to financial services in the Philippines. Through Allianz Kaagapay, the company’s financial literacy education program, it is able to encourage financial wellness and inclusion among underserved Filipino communities. Participants receive free life insurance for one year to give them an appreciation for the importance of being covered. The organization is also well known for its Ride Safe programs promoting sustainable mobility in partnership with local government units and cycling advocacy groups. 

“The Asia Pacific region is a substantial value contributor to the Allianz Group. We at Allianz PNB Life proudly play a more significant role in the region given our success in realizing the immense potential of the Philippine insurance market” said Allianz PNB Life President and CEO, Alexander Grenz. 

With regard to the economic stability of the Philippines in the next few years, Allianz PNB Life echoes the optimism of the Allianz Global Wealth Report. “The Philippines is an emerging market with double-digit financial asset growth. Alongside the outlook provided by AMRO, as well as the commitment of the government to implementing measures and policies that will ensure that the Philippines will be able to carry itself through the current economic weather, I am positive that we will see a continued trend of growth financially within the country.”

Since 2019, Allianz has been recognized as the number one insurance brand in the world. As a leading insurance provider, Allianz PNB Life’s products and services are designed to meet the lifetime financial planning, wealth accumulation, and well-being aspirations of Filipinos. To learn more about the Allianz Global Wealth Report 2022, view the video here. For more information on Allianz PNB Life’s products and services, please visit www.allianzpnblife.ph.

[1] https://www.manilatimes.net/2022/10/10/business/top-business/bsp-ph-economy-now-stronger/1861648

[2] https://www.dof.gov.ph/dof-ph-to-post-highest-growth-in-asean3-in-2022/

[3] https://www.insurance.gov.ph/wp-content/uploads/2022/06/IC-Press-Release-27-April-2022.pdf

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Allianz PNB Life honors Insurance Protection and Life Changers through fun new video campaign

Allianz PNB Life honors Insurance Protection and Life Changers through fun new video campaign

Monday, August 1, 2022

Allianz PNB Life recently launched its latest digital campaign entitled “Who’s A Good Hooman?” featuring man’s best friend through a golden retriever named “Yanzy”. 

“Who’s A Good Hooman?” continues June’s “Seeds of Tomorrow” campaign, the aim of which was to communicate the message that insurance is one of the best ways to prepare for whatever the future may bring. This time, “Who’s A Good Hooman?” shines a spotlight on insurance protection, as well as Allianz PNB Life’s hardworking and dedicated Life Changers, the company’s most qualified individuals who can help potential customers to a more confident tomorrow.

“Allianz PNB Life firmly believes in securing the future of every Filipino. One of the best ways to achieve this is by educating them on the importance of insurance, and encouraging them to get insured,” said Allianz PNB Life President and CEO, Alexander Grenz. “This latest campaign was created to show how insurance can be like “man’s best friend”, who protects you, and to connect you to the people responsible for this protection, our Life Changers.”

Apart from recognizing the important role of Life Changers in guiding prospective and existing policyholders when it comes to their insurance needs, “Who’s A Good Hooman?” also aims to inspire viewers and show the fun side of protection, as well as to encourage them to join Allianz PNB Life in this endeavor.

“To the viewers who enjoyed the video, I would like to personally invite you to become part of Allianz PNB Life’s roster of Life Changers,” Grenz added. “There’s a reason we are called Life Changers. Whether you are a policyholder who trusts us with your future, or a Life Changer who has discovered a purpose in helping others, our end goal is always to change lives for the better.”

Become an Allianz PNB Life Changer by visiting the website here. The “Who’s A Good Hooman?” video can also be viewed here.

For more information on Allianz PNB Life’s Life Changers, as well the products and services Allianz PNB Life offers, please visit www.allianzpnblife.ph.

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Allianz PNB Life awarded the Philippines’ Most Outstanding Life Insurance Company of the Year

Allianz PNB Life awarded the Philippines’ Most Outstanding Life Insurance Company of the Year

Friday, May 6, 2022

Allianz PNB Life was recently named the Philippines’ Most Outstanding Life Insurance Company of the Year by the International Business Magazine (IBM) for its performance in 2021. 

The prestigious recognition is given to the best industrial talents, global leaders, and corporations across different fields of international business and finance. The award by IBM strives to showcase companies and individuals for their quality services, business ethics and more.

CEO and President Alexander Grenz dedicated the award to the men and women behind Allianz PNB Life for making the recognition possible through their unwavering commitment to providing the best services to customers.

“We at Allianz PNB Life are honored to have this award, and I credit my colleagues who, with their steadfast support and hard work, deserve this recognition. Every day, we vow to provide only the best to our clients because they will first and foremost always be our priority,” Grenz said.

“We only want our customers to experience the best of what life has to offer through our comprehensive insurance services and products. Thank you, International Business Magazine, for acknowledging our passion and devotion to securing the future of Filipinos,” Grenz added.

Allianz PNB Life is the fastest growing life insurance company in the last two years based on its premium income. Its Annualized Net Premium rose by 34.2% from Q4 2020 to Q3 2021 and by 27.7% from Q4 2019 to Q4 2020.

The company’s sustainable projects and achievements have also been recognized via programs such as Allianz Ride Safe, a CSR effort aimed at building a cycling culture among Filipinos. Its initiatives to help those struggling amid the COVID-19 pandemic has also given confidence to its employees, customers, and their families in building a brighter future during a time of crisis and uncertainty.

For more information on Allianz PNB Life, as well as the products and services it offers, please visit www.allianzpnblife.ph.

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Allianz PNB Life merges life security and social responsibility in latest insurance offering

Allianz PNB Life merges life security and social responsibility in latest insurance offering

Monday, April 11, 2022

Allianz PNB Life has launched Allianz Protect, the insurance company’s latest in their range of protection and health products, last March 21, Monday.

“Allianz Protect was created for people who are looking to secure their futures, while also making significant contributions to the futures of others,” said Allianz PNB Life President and CEO Alexander Grenz. “We know Filipinos have hearts that want to help. Through Allianz Protect, they will be able to do so, while also being insured themselves.”

Allianz Protect is a comprehensive insurance solution that provides full-spectrum protection for any life stage, while also fitting your needs and your budget. It is a package of regular-pay traditional protection products with a variety of coverages, and it also gives clients the flexibility they need to actually be able to avail it.

Some of the benefits included in this plan are the Death benefit, where beneficiaries will receive a payout if you happen to pass away; and the Accidental Death, Dismemberment and Disability benefit, where beneficiaries will get paid if you are permanently handicapped due to unfortunate circumstances.

Also, as part of Allianz PNB Life’s continued commitment to sustainability, the insurance company will donate a yearly contribution of Php 500 to a beneficiary of your choice among Allianz PNB Life’s partner communities or advocacies, such as the World Wide Fund for Nature Philippines’ Foodshed Farming Enterprise. ”We’re looking at a win-win scenario, both for these communities and the environment. People need to eat. The environment needs room to recover. With the support of Allianz PNB Life in setting up these food sheds, both are possible”, said Monci Hinay, Project Manager of WWF-Philippines’ Sustainable Food Systems.

While anyone who is capable of availing the plan may do so, Allianz Protect was primarily created with young, growing Filipino families, breadwinners, and more importantly, solo parent households, in mind. The reason for this is because these segments will benefit most from the flexibility and well-roundedness of the product.

Coverage starts at Php 1 million, and you can also choose the most convenient payment scheme for you, whether it be monthly, quarterly, semi-annually, or even annually. Policyholders can choose to renew yearly, every five years, or every ten years, until you reach the age of 70.

“We want Filipinos to be confident no matter what tomorrow may bring. That’s the goal of Allianz Protect,” said Grenz. “We want our policyholders to know that they are contributing positively towards sustainability efforts, as well as the growth and development of Filipino communities. We also want them to be assured that they will be protected from the worst, and that their future is secured…especially when they choose Allianz PNB Life.”

For more information on Allianz Protect, as well as the products and services Allianz PNB Life offers, please visit www.allianzpnblife.ph.

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