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Manulife Philippines Appointed FinTech PH InsurTech Chair

June 26, 2019

Manulife Philippines has been named chair of the newly-formed InsurTech Committee of the Fintech Philippines Association (FinTech PH). 

FinTech PH Executive Director Amor Maclang shares that the InsurTech Committee was created with the following objectives:

  • Improve insurance penetration in the Philippines;
  • Promote collaboration among industry players and with regulators to explore non-traditional platforms, processes, and products for customers;
  • Help embrace a culture of innovation among stakeholders. 

As head of the InsurTech Committee, Manulife Philippines aims to bring together various stakeholders, including insurers, regulators, insurance advisors and customers, to make insurance accessible to more Filipinos. Manulife hopes to achieve this by leveraging its regional and global presence to provide access to actionable information, exploring joint industry research and studies, and using technology to foster financial awareness and promote the importance of insurance.

“There is a lot of room to grow in the insurance industry. According to the Bangko Sentral ng Pilipinas’ Financial Inclusion Survey,[1] only 18% of the Filipino adults have insurance protection. Because of this, we want to develop and promote innovative solutions to enable more Filipinos to plan for their future and live better lives,” said Melissa Henson, Senior Vice President and Chief Marketing Officer of Manulife Philippines. “At Manulife, we are using technology to better connect with our customers, make it easier for them to access their accounts, invest in funds, facilitate the process of applying for policies, and improve their overall experience with us. We are pursuing these innovations not for the sake of distruption, but to make insurance easy for our customers.”

Manulife’s appointment was announced at Fintech PH’s recent mixer which saw top executives from some of the country’s most innovative companies sharing insights and best practices on building a culture of innovation, digitizing payments, and introducing products and services that leverage technology.

FinTech PH is a non-profit association representing and promoting the Philippines as a global leader in FinTech innovation.

 

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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 www.manulife.com.ph and following them on Facebook (www.facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).

 

About Manulife

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2018, we had more than 34,000 employees, over 82,000 agents, and thousands of distribution partners, serving almost 28 million customers. As of March 31, 2019, we had over $1.1 trillion (US$849 billion) in assets under management and administration, and in the previous 12 months we made $29.4 billion in payments to our customers. Our principal operations in Asia, Canada and the United States are where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

 

[1] BSP Financial Inclusion Survey

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