Insular Life (InLife), said to be the country’s first and largest Filipino life insurance company, launches its new agency model “I AM” to better respond to the growing and changing consumer needs for life and health protection as well as investments.
InLife president and CEO Raoul Antonio E. Littaua said in a media briefing that “as we gradually ease out of the pandemic, we see that the demand for lifetime-guaranteed income will become more urgent. The need for protection from the risks of dying too soon, living too long, and catastrophic illnesses – which are all within the province of the life insurance business – will be as pressing a need in the future as they have ever been.” A veteran of the life insurance business, he introduced several changes in the agency distribution channel that led to revitalizing the company’s agency force making it an attractive business partner for field managers and agents.
He also reported that first quarter individual claims amounted to around P 682 million, mostly coming from maturity benefits and anticipated endowments. Of this amount, individual death claims accounted for P206.5 million for 543 policies. Out of all first quarter paid claims, 261 are COVID-related, with 229 death claims amounting to P94.4 million, a seven-percent decline compared with the same period in 2021.
I AM is also set to change the game in the local business landscape by offering the most attractive commissions and a flexible agency structure to empower financial advisors to grow their businesses according to their desired career path. With features like Wealth Assure Plus, I AM also encourages Filipinos to pursue a career in being a financial advisor and to share the company’s mission in helping more Filipinos achieve their financial goals and prepare for unforeseen events.
“InLife financial advisors will enjoy a one-of-a-kind compensation package in the industry under I AM. They are provided with the blueprint to succeed in the business through our industry-leading in-house Learning Academy. They are also enabled with the latest digital end-to-end sales tools and are afforded with foreign travel opportunities as part of our comprehensive agency recognition program,” Littaua said.
For more information, visit www.insularlife.com.ph.
