EastWest Banking Corporation and Belgium’s Aegeas Insurance International NV are celebrating the fourth anniversary of their Philippine-based joint venture—Troo, a life insurance catering to customers of the major bank and its parent company, Filinvest Group.
When it was formally launched, Troo committed to taking a holistic approach to technology in its operations, first by being a ‘mobile-first’ insurer to connect with mobile-savvy customers. Second, it claimed to be the world’s first insurance firm to take IT operations in the cloud.
“From the start, Troo has been embracing the latest technology and digital solutions as a core of its daily business,” said Troo President and CEO Hans Loozekoot. “This enables us to offer our customers a seamless experience and optimize our operations.”
“Bancassurance is a key pillar of our growth strategy,” said EastWest Bank Vice Chairman and CEO Antonio C. Moncupa Jr. “We now offer a complete menu of financial services to every Filipino—whatever their needs may be.”
To mark Troo’s fourth year, the insurance firm is launching its Troo BuildWealth Limited Pay, the latest variable unit-linked (VUL) product from the insurer. It will be the first real limited pay VUL in the country to provide customers with choices for their payment period, whether it’s 3, 5, 7, or 10 years.
BuildWealth Limited Pay is the third option in the VUL suite of solutions and is aligned with the slogan “Grow your wealth, your way.” Like the other solutions, BuildWealth Limited Pay combines life insurance with investment options. The new insurance solution will further boost growth for Troo to become a top 10 life insurance player in the coming years.