AIA Philam Life exec remains optimistic amid pandemic.
The Covid-19 pandemic has increased Filipino’s interest to have insurance coverage and the digital technology boosted companies’ capacity to cater to more people.
In a virtual briefing Thursday, Kelvin Ang AIA Philam Life chief executive officer said the outcome caused by the Covid-19 increased people’s awareness for protection and he sees this to continue, pending the discovery and production of vaccine against the disease.
“It heightened inquiry on protection products,” he said.
Ang said the quarantine implemented by the government to limit the spread of the virus is “a big disruption to our lives”.
He, however, said that while this is a big change on what people previously considered as normal lives, it made individuals embrace digital technology “more rapidly than ever”.
He thus dubbed as a good development the Insurance Commission’s (IC) decision to allow insurance companies to offer their products online.
“It is still very important that customers have insurance policies,” he said, citing that instead of annual or semi-annual payments mode, they allow policy holders to have monthly payment schedules.
He remains optimistic on their business since some areas have eased movement restrictions.
“I think if they (public) continue to be prudent (and) practice social distancing, things will surely normalize. (The) Philippines is a country that is resilient. People bounce back and I don’t think Covid will stop that recovery,” he added.
The Covid-19 pandemic has increased Filipino’s interest to have insurance coverage and the digital technology boosted companies’ capacity to cater to more people.
In a virtual briefing Thursday, Kelvin Ang AIA Philam Life chief executive officer said the outcome caused by the Covid-19 increased people’s awareness for protection and he sees this to continue, pending the discovery and production of vaccine against the disease.
“It heightened inquiry on protection products,” he said.
Ang said the quarantine implemented by the government to limit the spread of the virus is “a big disruption to our lives”.
He, however, said that while this is a big change on what people previously considered as normal lives, it made individuals embrace digital technology “more rapidly than ever”.
He thus dubbed as a good development the Insurance Commission’s (IC) decision to allow insurance companies to offer their products online.
“It is still very important that customers have insurance policies,” he said, citing that instead of annual or semi-annual payments mode, they allow policy holders to have monthly payment schedules.
He remains optimistic on their business since some areas have eased movement restrictions.
“I think if they (public) continue to be prudent (and) practice social distancing, things will surely normalize. (The) Philippines is a country that is resilient. People bounce back and I don’t think Covid will stop that recovery,” he added. More..
Related : The Coronaconomy Batte ;Philippines 7th best countries to invest in post COVID-19 ; Emerging Markets VS Coronaconomy ; Guide to Life Insurance
Updated: May 22, 2020, StockBytes! PH
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