Philippines
Philippine social insurer GSIS logs record-high premiums for non-life insurance arm
This makes GSIS the largest non-life insurer in the Philippines.
Philippine social insurer GSIS logs record-high premiums for non-life insurance arm
This makes GSIS the largest non-life insurer in the Philippines.
Phl’s Insurance Commission resolves 5,417 complaints in 2023
The number of resolved complaints last year was 7.8% higher compared to 2022.
Phl’s microinsurance expands 19.6% YoY in Q3’23
Over 56 million Filipinos were insured during the third quarter.
Philippines introduces insurance programme for crucial gov’t assets
The programme will cover 132,862 school buildings nationwide, valued at over P800b.
The Philippines’ pre-need industry swells 8.2% YoY in Q3
Its expansion is attributed to the heightened sales of pre-need plans during the period.
PH gov’t insurance system registers $1.43b in profits 10M’23
It surged 117% year-on-year.
Oona Insurance buys 40% stake in Philippine branch from InLife
This will make Oona the sole owner of Oona Philippines.
Philippines’ insurance industry expands 9.38% YoY in Q3
Both its life and non-life insurance segments saw double-digit growth in earnings.
Philippines’ pension system joins forces with JICA
The partnership aims to enhance the protection of public properties and assets against disasters.
MAA Group sells 85% stake in Philippine arm
MAA Group will exit the nonlife insurance business entirely.
Hive Health acquires HPPI
The acquisition will entail HPPI’s to integrate with Hive Health’s technological capabilities.
Outdated systems cause data breaches, dragging the Philippine insurance market’s growth potential
Insurance experts warn of poor systems leading to the disruption of digital adoption, whilst partnership opportunities could boost growth.
How customer centricity can aid the Philippines’ narrow insurance penetration
With less than 3% insurance penetration, insurance experts concur that low financial literacy has eroded potential.
Tonik digital bank enters the insurance market
The partnership with Sun Life Grepa will offer credit life and disability insurance.
FWD Philippines launches insurance plan for gamers
Customers can opt to add critical illness benefit, accidental death coverage, or both.
Most insurance companies use 18-year-old legacy systems, not enough to drive innovation: ZA Tech
Legacy systems often come with limitations that can hinder the development of new products and insurance channels.
Etiqa Philippines says rising costs may entail adjustments in premium pricing and risk management strategies
Although various influences linger, the country’s penetration rate must be put in focus.
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Insurers need cultural overhaul in digital push
![Insurers need cultural overhaul in digital push]()
Digitalisation seeks to simplify processes, not complicate things.
Digitalisation seeks to simplify processes, not complicate things.
