Filipinos are encouraged to invest more in life insurance as protection against financial risks, while the insurer Pru Life UK ramps up digital partnerships to widen access and improve coverage.
Senior advisor to the CEO Francis Ortega said the current market volatility highlights the need for protection and noted that life insurance helps reduce uncertainty from risks such as death and critical illness that can erode wealth. He stressed that insurance products are designed for long-term goals.
Ortega said clients can choose between investment-linked products, which allow funds to be placed in equities or fixed income depending on risk appetite, and traditional plans that offer guaranteed returns. Both options aim to balance financial growth with protection.
The company also expanded its product lineup in 2025, including offerings with guaranteed returns for higher-income clients and globally diversified, multi-asset funds. More health-related products are expected to be introduced in 2026.
Chief legal, government relations and sustainability officer Calvin Kohchet-Chua highlighted efforts to reach underserved sectors, including the rollout of takaful or Islamic insurance. He said awareness remains a challenge, with fewer than 100,000 policyholders so far, prompting ongoing education campaigns and community outreach.
To broaden access, the company is exploring partnerships and strengthening its digital distribution channels. Takaful products are now available through mobile applications, catering to customers who prefer direct online transactions over traditional agents.
Kohchet-Chua also underscored the role of collaboration during economic uncertainty, saying protection becomes more critical as living costs rise.
The insurer attributed its strong income growth to customer retention and recurring premium payments, alongside continued investments in digital infrastructure and multiple distribution platforms.
Despite industry growth, however, insurance penetration in the Philippines remains low compared to other Southeast Asian countries. Ortega said this reflects a need to shift public mindset toward financial wellness that includes not only savings but also life protection.
“With increasing exposure to risks such as illness, disability and accidents, Filipinos must prioritize safeguarding their financial future,” he said.
