Manila, Philippines ― Manulife Philippines is delighted to launch Manulife Shop (), a new digital platform to allow Filipinos to purchase affordable insurance products online at their own convenience.
Manulife Shop offers annually renewable insurance products that empower customers to choose their coverage based on their budget, with life protection coverage up to Php 1,000,000, subject to the terms and conditions of their procured insurance policy. The platform was developed in partnership with Democrance, an award-winning international insurtech start-up that digitizes distribution channels and insurance value chains for emerging market segments through fast and secure solutions.
Manulife Shop serves the growing number of Filipinos seeking digitally enabled insurance to secure their protection. Manulife’s recent study, “,” found that 90% of the Filipinos surveyed use e-commerce apps, and 82% use finance apps for cashless payments or to buy insurance. In addition, among those surveyed, 25% of Filipino Gen X and 33% of Filipino millennials revealed that they have bought insurance products online in the past 12 months, while 41% of Gen Zs are considering purchasing insurance products online in the next 12 months. Participants in the survey cited convenience (45%), sense of security (22%), and protection (17%) as their reasons for buying insurance products online.
“Manulife Shop is our latest initiative to provide intuitive, convenient, and frictionless customer experience for today’s hyper-digital Filipinos, in line with our ambition to be the most digital, customer-centric global company in our industry,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. “Through Manulife Shop, we respond to the needs of Filipinos who want access to easy and affordable insurance protection options, with the comfort of digitally driven customer experiences where they can transact seamlessly.”
The three products that can be purchased on Manulife Shop are as follows:
Interested customers may reach out to a Manulife financial advisor for advice and consultations.
About Manulife Philippines
The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the leading life insurance companies in the country. Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation, among the world’s largest life insurance companies by market capitalization. Learn more about Manulife Philippines by visiting their website and following them on Facebook (), Twitter (@ManulifePH), and Instagram (@manulifeph).
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2021, we had more than 38,000 employees, over 119,000 agents, and thousands of distribution partners, serving over 33 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.