Sun Life Philippines Continues Tradition of Being a Trusted Brand among Filipinos

Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) Sun Life of Canada (Philippines), Inc. once again bags the Platinum Award in the Life Insurance category of the recently concluded Trusted Brand Awards organized by Reader’s Digest.

The Platinum Award is considered the highest honor in the Trusted Brand Awards, as there is only one sole winner bestowed with such honor. The recognition is wholly based on consumer voting, where over 8,000 individuals in the Philippines, Singapore, Malaysia, Hong Kong, and Taiwan rate 50 categories of products and services according to their trustworthiness, credibility, quality, value, innovation, social responsibility, and understanding of customer needs. In the Life Insurance category, Sun Life was once again chosen by Filipinos as their most trusted brand.

Japan ranks as top leisure travel destination for Filipino travellers: Visa study

Visa, a global leader in digital payments, has published its most recent Green Shoots Radar study. This quarterly report analyzes consumer sentiments across various sectors, such as financial services, commerce, and travel. The study reveals a surge in travel frequency among Filipino travelers. According to the data, 24% of surveyed Filipino respondents have traveled overseas for leisure or business purposes in the past year. This trend aligns with a broader travel resurgence across Asia Pacific, with 37% of those surveyed reporting overseas travels within the same period.

Japan emerged as the top leisure destination for Filipino travelers, with 32% visiting in the past year. Singapore (22%) followed by Hong Kong (21%) and Thailand (18%) were the next most popular destinations. For business trips, Singapore led the list with 25%, followed by Japan (23%), and the United States tied with Hong Kong at 18%.

Pru Life UK solidifies its leadership position as 2023’s top life insurer in the Philippines

The life insurance company's NBAPE amounted to a total of Php 10.54 billion for 2023

Pru Life UK ranks number one in the life insurance industry in the Philippines, garnering the highest New Business Annual Premium Equivalent (NBAPE) as reflected in the recently released Insurance Commission (IC) report as of 31 December 2023.

The report shows that Pru Life UK achieved an impressive NBAPE of Php 10.54 billion for 2023 representing 11% growth. The company broadened the gap with the closest competitor by a margin of Php 472 million. NBAPE serves as the universally accepted performance metric used to assess sales performances of the life insurance industry in the Philippines.

Owing to the company's innovative offerings, Pru Life UK also leads in total premium income from variable life insurance products, amounting to over Php 45.7 billion as of 31 December 2023.

UnionDigital Bank leads the pack in digital banking, emerges as ‘Best Digital Bank in The Philippines’

UnionDigital Bank is named 'Best Digital Bank in The Philippines’ by TAB Global’s Global Excellence in Retail Finance Awards 2024

The digital bank subsidiary of Union Bank attributes the recognition to the exceptional growth it achieved in 2023, ending the year with a 65% market share in loans and 25% in deposits among digital banks 

Within the period, the bank's loan-to-deposit ratio surged from 58% at the end of 2022 to an impressive 69%, surpassing that of its digital banking counterparts in the country 

In a period defined by technological innovation and digital transformation, UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, emerged as a leader in digital banking as it secured the distinguished title of the ‘Best Digital Bank in The Philippines’. Honored by the esteemed Global Excellence in Retail Finance Awards 2024, an award-giving body in the industry led by TAB Global, this achievement underscores UnionDigital Bank's relentless pursuit of innovation and its dedication to providing cutting-edge digital banking solutions. 

Cool adventures await: Home Credit’s travel essentials for an epic summer getaway

Capture your sun-soaked memories with the hottest smartphones, available via Home Credit's 0% interest installment deal this dry season

Now that the hot weather is finally upon us, we are gearing up for remarkable out-of-town trips to fully embrace the summer vibes. It is time to make the most of the season and beat the intense heat, whether that means taking a refreshing dip in cool pools or beautiful beaches, exploring breathtaking nature, or embarking on a relaxing road trip.

Road trip this long weekend? Here are some tips to keep it hassle-free

With the long weekend coming up, many Filipinos are gearing up for a well-deserved break. Road trips are a popular choice during this time, especially to beach destinations as summer approaches.

Here are some tips to ensure your road trip is smooth sailing:

Plan your route.

Long weekends may involve road closures, maintenance, or construction, so it’s best to check the news for updates. Navigation apps will prove helpful during this time. The holiday rush may also affect traffic, so beat other travelers by leaving earlier, if possible.

Check your car.

A vehicle in top condition will be your best friend during a long journey. Ensure your tires are aligned and balanced, car fluids and battery are secure, and lights and turn signals work. Inspect your car before the trip to ensure everyone’s safety.

The changing face of insurance: How tailored microinsurance products are key to relevance and adoption in the Philippines

For most people, understanding insurance boils down to the four most common types: life, health, auto, and long-term disability. While awareness of insurance importance is increasing, the aforementioned traditional insurance products are failing to resonate with many people due to various reasons including affordability, accessibility, and relevance. These factors have largely contributed to the low insurance penetration in the Philippines, which stands at 1.68% as of September 2023. 

This is where microinsurance is changing the game as insurtechs and insurance companies have introduced personalized microinsurance products that cater directly to the unique lifestyles and needs of Filipinos as they go through various stages of their lives. As an insurtech, Igloo and its partners have been instrumental in facilitating a wide array of microinsurance products that safeguard the unique needs of digital natives and underserved sectors. These products run the gamut from travel insurance, to electronics protection, e-commerce purchase protection, and even protection for the gamers’ health.