In line with its vision to make insurance
accessible to more people, BDOI has launched
easy to understand and affordable insurance products
through SM Store Customer Service counters in 57
malls nationwide. To help clients choose from a vast
array of insurance solutions and find a tailor-made
solution for their business, BDOI has a dedicated
team of consultants and offers after-sales service to
help people make the most out of their coverage.INSURANCE FOR ALL
These successes were made possible by the current
regulatory push for the financial inclusion of
underserved sectors in the Philippines. Tracy explains
that these factors have presented both challenges and
opportunities for the company. “Micro-insurance
means that insurance is no longer too expensive
or too complicated for the underserved and low-
income community,” she says. “Regulations now
are also more open to alternative distribution
channels, such as digital, and this means that the
industry can start taking advantage of wider, more
accessible, and more cost-effective ways to reach
the uninsured.”BDOI is well placed to capitalise on these
emerging trends, and is developing micro-insurance
products in collaboration with One Network Bank,
a subsidiary of BDO. “We are building a new core
system and embarking on a transformation to
improve operational efficiency and strengthen our
capability to deliver excellence,” says Tracy. The
business is also enhancing its ability to predict,
analyse and respond to market needs and changes
by strengthening its teams dedicated to improving
the customer experience, simplifying work processes,
and creating synergies with bank counterparts to
better serve and reach more customers.
Tracy believes the next frontier in insurance is
digital transformation. “Innovations in insurance
coverage such as pay-per-use policies, new
distribution channels such as mobile apps and online
platforms, easier price and benefit comparisons
through online aggregators, and faster and more
accurate motor claims assessment through drones,
sensors and telematics, are changing the face of the
non-life insurance industry globally. The players that
can adapt and create new markets through these
changes will emerge as winners,” Tracy explains.Half page advert
Malayan Insurance Companyhttp://www.malayan.com
Yuchengco Tower I
500 Quintin Paredes St., Binondo
Manila, PhilippinesSecuring the assets
you treasure.
For 88 years and more,
the promise you can rely on.