“Executing digital experiences require massive transformation efforts. Digital acceleration is undoubtedly a top trend, and that is both the adoption of clients as well as the increased appreciation and proficiency of people in our organizations… (W)e are taking significant efforts to proactively drive the internal changes that will allow our company to ride the first waves of these trends successfully,”
The coronavirus disease 2019 (COVID-19) pandemic has forced many industries over the past two years to pivot to a new way of doing business.
As the country continues to shift to the new normal, and as the government highlighted the need to move from a pandemic to an endemic paradigm, companies have redesigned the way they deal with their clients, as well as the products that they offer.
Among these are insurance companies, whose significance has been highlighted especially during this global health crisis.
Benedict Sison, Sun Life Philippines president and chief executive officer, said clients today have more choice and power than ever before.
“Client experiences are an important focus area for Sun Life, more so now that the new landscape has shifted our client’s expectations, requiring us to redesign the target experience that we want to deliver,” Sison said.
“(Clients) want to choose when and how they engage with businesses, and this is increasingly about being digital,” he added.
Sison said this is where business transformation comes in.
“Executing digital experiences require massive transformation efforts. Digital acceleration is undoubtedly a top trend, and that is both the adoption of clients as well as the increased appreciation and proficiency of people in our organizations. People were left with no choice but to learn this new medium, and we are taking significant efforts to proactively drive the internal changes that will allow our company to ride the first waves of these trends successfully,” Sison said.
“To do this, we will remain focused on people and culture. Continuously embedding client centricity, innovation and agility into our culture has significantly helped us in these uncertain times. Specific to our people’s needs during the pandemic, these efforts included continued employee vaccination, ensuring their benefits align with the times, and enabling higher productivity in the work-from-home model, among other things,” he added.
Sison said SunLife sees this strategy ultimately leading to business sustainability.
“Resilience will continue to be in our strategic agenda as this is key in an industry where the benefits are fully experienced by clients in the long-term. We protect lives from financial uncertainty while also providing access to healthcare. So, in terms of needs and relevance to Filipinos, we see many opportunities to make an impact,” Sison said.
Kelvin Ang, AIA Philippines chief executive officer, said while the past two years have been challenging, the company has been able to quickly adjust and adapt, shifting a lot of processes to digital to ensure the continued delivery of service to customers, as well as equipping its people so that AIA can continue to operate despite the lockdowns.
“In the meantime, we continue to focus on the fulfillment of our mission to race against risk while creating new propositions that will take care of the health and wellness needs of our customers alongside their protection needs,” Ang said.
“We remain optimistic at the prospects ahead, and are preparing ourselves to be ready to meet the new normal that awaits after the pandemic,” he added.
As the global economy recovers from the world’s largest health crisis, Manulife Philippines remains focused on advancing insurance penetration and financial inclusion in the country.
“Guided by our deeper understanding of our customers’ concerns, motivations, and priorities, we are committed to offering products and services that will make insurance more accessible to more Filipinos, including younger Filipinos – Generations Y and Z – who have fast-tracked their financial transformation during the pandemic,” Manulife said.
Manulife added the company is working on strengthening its agency force across the country.
“Unemployment and underemployment have become growing issues during the pandemic, so we encourage more Filipinos to explore opportunities in financial planning as a career at Manulife. Not only can it empower them financially and professionally, but it can also provide the opportunity to make a positive impact in the lives of others as financial advisors,” Manulife said.
