Insurance firm exec cites rise of sales through shopping app

Insurance firm exec cites rise of sales through shopping app

MANILA – Banking on Filipinos love for shopping and the surge in online sales during the pandemic, an executive of Sun Life Philippines remains optimistic of their business as more people realize the importance of insurance.

Aside from the company’s website and its insurance agents, the public can also buy Sun Life Philippines products through the online shopping app, Lazada.

In a reply to e-mailed questions from the Philippine News Agency, Sun Life Philippines Digital Partnerships and Fintech head Kristofer Patron said they started offering their products through the online shopping app in 2018.

“We are proud to say that we are the first insurance company to do so,” he said.

While bulk of sales materialize through transactions with Sun Life Philippine financial advisors, Patron said “we do have a healthy pipeline of leads from our website.”

“We are starting to see growth in our insurance sales online through our financial advisors,” he said.

Usual clients through the online shopping app are housewives and students, he added.

“(But) we are witnessing a growing demand for insurance products from other client segments such as doctors, architects, business, and sari-sari store owners,” Patron said.

He said the most sought-after product is the Byahero Protect which provides insurance coverage to daily commuters using private and public transportation.

Patron added this product is an accident insurance that provides additional benefits for accidents while traveling on land.

“It is currently the most inclusive personal accident insurance in the market. We continue to stay focused on the needs of the clients and address them as quickly and as appropriately as possible,” he said.

For this year, Patron said they are lining up several products “and are working closely with regulators and our partners to offer these innovative solutions.”

“In due time, we will disclose more information. As always, our priority is to help our clients and their families secure their financial future and be able to offer financial solutions to Filipinos,” he added. (PNA)

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