AXA-lent Year: AXA Philippines' Growth Was Evident In The Insurance Commission 2017 Figures
If you look at the diversity of products that Insurance companies offer nowadays, you’ll find that gone are the days when these insurance entities would only make sense in our lives when a death, vehicular accident, fire, or home damage, would occur. Now, whether it be securing for the future, getting a millennial jumpstart on financial planning and literacy, or literally investing on some retirement pipe dream, there is a product that’s been retro-fitted for your needs.
The global leader in insurance, the French company AXA, knows all this only too well; and they’ve responded in innovative ways here in the Philippine market where they’ve partnered with Metrobank to make their products flexible, adaptable, and available. For some products, all you have to do is scroll down your smartphone and avail online. It’s all about staying relevant and keeping a step ahead of what the various segments of your market will want.
At a recent AXA event which talked about preparing for Retirement
AXA has more than 3,000 financial advisers in 32 branches, and 700 financial executives in over 900 Metrobank and PSBank branches nationwide. Through its recent full acquisition of Charter Ping-An, AXA Philippines expanded into the non-life insurance business. That’s indicative of how committed they are to making their presence felt here. The NBA and Binibining Pilipinas are just some of the brands AXA and Charter have partnered with in order to better spread the AXA message.
AXA/Charter Ping-An and Binibining Pilipinas
When the Insurance Commission announced their 2017 figures, the success of the initiatives of AXA in trying to anticipate what the market is looking for was evident. While Sun Life still ruled the roost in terms of TPI (Total Premium Income) with P32,114,016,858, there was only a 0.70 percent increase from 2016. AXA Philippines was second with P26,184,554,497, but this signified a 21.7 percent increase from their 2016 figures. Among the Top 6, the increase in business from 2016 to 2017 for the other four companies ranged from 5 to 6 percent. Only AXA had such significant growth. And while the Industry Total showed an overall 10 percent increase from 2016, all Insurance companies agree that there is still so much untapped potential in our market.
Recognized as the No. 1 Global Insurance brand by Interbrand for the 9th consecutive year (2009 to 2017), AXA has made it their trademark of being responsive to the changing needs and demands of the various market segments.
I’ve been a firm believer of their Global Health Access card; a product that years ago, was something my late parents availed of, but only by securing a similar product out of Singapore and having to pay the premium in foreign currency. The convenience of having this kind of quality comprehensive health coverage for even when travelling abroad, or for simply opting to get treatment somewhere else in the world, is really something I appreciate AXA for offering here. It’s this kind of diversity of product offerings that make them such a leader in the field.