Guided by the wisdom of his mentors, Cocolife president & CEO Martin Loon brings a fresh take on insurance by helping shape a new generation of ‘Cocolifers’ — ones who further cement the industry giant’s reputation as an innovative company with a heart.
By Grace C. Diez
The finance and insurance industries are often associated with being austere, traditional and conservative. However, the onset of the pandemic changed all these, as most companies adapted and adjusted, veering away from outdated norms of corporate tradition to address their stakeholders’ needs with more warmth and compassion.
Amidst the pandemic, Filipino insurance company Cocolife proved its dependability as a healthcare partner when it took the initiative to include COVID-19 and related cases to the policyholders’ coverage. In response to the challenges posed by the pandemic, the company also fast-tracked its digitalization, set-up telecommuting and work-from-home (WFH) models and renewed its ISO certification — all while continuing to develop and offer accessible and innovative products to its clients.
As a result, Cocolife posted it’s highest net profits for two years in a row and even won recognition from a number of award-giving bodies.
Atty. Martin Loon credits the company’s success to its synergy between its young and energetic management committee members, and its more senior and seasoned board of directors.
“It’s a combination of youth and experience. It’s a really good dynamic because for the young management committee, we have a very seasoned board to check on us and make sure that we are guided properly. We’re given the insights they’ve had in their own respective backgrounds so it’s a good mix of people. That’s the culture we have now — it’s very energetic, people are very excited for the tasks at hand and very committed to the vision that we put in place,” he shares.
Learning by example
In Cocolife, the management team and board cultivate an environment that is open to ideas and exchange. It’s not so much about learning “from someone,” as it is about learning “from each other.”
“Sometimes the best lessons in life are the ones that are not taught, but the ones that are seen; the ones that are experienced,” Martin Loon shares, emphasizing the importance of mentorship by example. This is something, that he, too, enjoyed when he was just starting his career. “I’d choose a good boss over great material rewards,” he says.
The lawyer-CEO says he owes his formation as a leader and a businessman to three important mentors — two prominent tycoons and a military hero. “I love to observe and read people. To get a chance to work with them at some point in your life, get to observe them up close, witness and experience how they do things; witness how they lead or how they apply the knowledge, skills and wisdom they have. To me, that’s the best way to learn,” he adds.
“From my first boss, I learned what it was to be a true gentleman, how to keep your word, how to deal with people and be a true friend,” he says, sharing that the tycoon was even thoughtful enough when it comes to seemingly “little things,” like gifting him with two business suits to start off his stint at Georgetown (University Law Center).
From his other boss, another well respected business tycoon, he learned strategy and grit. “From Boss, I learned how to get things done effectively and fast. I learned to choose what’s important, let go of what’s not, prioritize and focus on what has to be done because there are people counting on you. For him, I learned to always persist and survive.“
He also honors military hero and the most decorated military officer in Philippine history, Marine Col. Ariel Querubin, his stepfather, by saying “I learned determination from dad. He’s the most decorated military officer in our history. I’ve had the privilege of learning what courage and integrity means and have that fighting spirit in me all the time. If we have to go to battle, then we must learn how to fight all the way.”
The lessons Martin Loon learned from his mentors don’t stop with his success either. Rather, they are passed on by this gentleman, who also leads his staff the way he knows best. “I’m not the type to sit you down and guide you through every step, saying ‘follow this and all that.’ I’m the type who will want you to learn through experience. I trust people enough. I trust in their instincts, their commitment, their vision and their passion. I want them to learn from experience,” he begins.
The Cocolife head believes that every experience prepares one for the next task and the next battle ahead. “I just make sure that people actually learn and see what the lesson is. We don’t spoon-feed wisdom and information. We teach by example and by experience. That’s the best way to teach and it becomes an anecdote for other people to learn from. When a similar situation happens, it’s easy to draw from that experience since it would feel like a familiar story,” he explains.
He also reminds people that learning isn’t a one-way street. “Learning from each other has been crucial to our success and in keeping the business going, profitable and legitimate despite all the conditions,” he says. And in Cocolife, such meeting of the minds — regardless of gender, age or personal backgrounds — continue to propel the company forward. “My only hope and prayer is we can fulfill our purpose as I have learned from Ateneo in my younger days. We must make as much difference and lasting change as we can while we’re in this world,“ the UP Law and Georgetown alumnus shares.
“When you have a clear and legitimate baseline shared by everyone, we’re able to ensure that we’re all on the same page; that we do things professionally and we do things ethically. When we share that common set of values, it creates a culture of trust and confidence among the members of the organization,” he concludes.
