Sun Life Asia sees PH as its ‘strongest market’ in the new normal

The Philippines is Sun Life of Canada, Inc’s ‘crown jewel in Asia.’ This was revealed by Sun Life Asia President Leo Grepin during a virtual conference about the brand’s global economic outlook held on September 18, 2020.

“It is our strongest market in Asia and I only see that increasing as we rebound and recover from the (Covid-19) crisis,” the Hong Kong-based Grepin said. The market confidence and rosy outlook come a few months after the Philippines’ Insurance Commission declared Sun Life Philippines as the No. 1 life insurance company in the country for 2019, with a posted overall annual premium of P39.5 billion. It was the ninth year for the insurer to top that list.

During the conference, Grepin also reiterated the significant investment Sun Life is infusing to further upgrade the digital capacity of Sun Life Philippines. “Our investments in digital technology have never been higher. We’ve rolled out capabilities for our clients to self-service themselves. And we have developed capabilities for our advisors to engage remotely with their clients,” he said.

Sun Life Asia President Leo Grepin

Digital push

Tech and Lifestyle Journal notes that the digital push was the main thrust of the new campaign Sun Life Philippines launched in June 2020 (during the observance of the annual Financial Independence Month). ‘Rise Together to a Bright New World’ comprises of five major online activities—a series of Sun Talks Virtual Conference, digitally-enabled sales process, rolling out of new tools in the website, availability of digital insurance products on e-commerce platforms like Lazada, and the launch of the Rise Together digital video. Just recently, the company also rolled out the industry-first Remote Online Medical Examination facility for clients applying for insurance or a reinstatement.

Sun Life Philippines Chief Market Development Officer Michael Manuel also backs the confidence on the country’s economic rebound potential. He is projecting strong growth in the national economy in 2021 due mainly to the resumption of the government’s aggressive Build, Build, Build program, and the sustained resilience of the local stock market.

Sun Life Philippines CEO and Country Head Benedict Sison

One message

Meanwhile, Sun Life Philippines CEO and Country Head Benedict Sison assures clients that the company is continuously finding ways to serve them. “With many of our products and services now available digitally, you may even proceed while staying safely at home,” he said.

“All our efforts aim to highlight one message—that Sun Life Philippines remains committed to being your partner in your financial journey even in these extraordinary times,” Sison added.