Philam Life to recruit more financial advisers to meet needs of clients-A A +A
By Mia A. Aznar
Thursday, March 27, 2014
WITH more people seeing the importance of insurance and investing for the future, an insurance company is seeing the need to recruit more financial advisors to cater to their growing list of clients.
Philam Life vice president and director of agencies in Central East Visayas and Mindanao Rolan Enriquez recently told reporters that the ratio between financial advisors to the country’s population is low, about one advisor for 30,000 Filipinos.
He said they are aggressively recruiting financial advisors, adding 5,000 just last year to make their total number 9,000 nationwide.
They hope to recruit 8,000 more advisors this year and are holding monthly programs to invite potential persons interested in a career in financial advisory. “It is a growing need that not many are able to provide,” Enriquez said.
One of the company’s big plans for the year is to drive financial literacy programs in key markets. “Knowledge and awareness are the first steps to financial empowerment.
This year, Philam Life will reach out to more Filipinos through our financial planning programs in tandem with partners from key sectors—OFWs, parents, entrepreneurs and employees,” said marketing head Jessica Abaya.
Abaya said the company’s 2014 initiatives are geared towards providing financial prosperity and security, which includes a strengthened financial literacy campaign, easy financial planning and broadening product portfolio.
A company brand study found that limited accessibility is a barrier for Filipinos who do not own a life insurance policy. Another hurdle is the complexity of how insurance works. To bridge these gaps, the company hopes to make this easier with new programs and applications.
Abaya said many are scared of the too complex procedures about getting insurance while others tend to misconstrue the way insurance works with pre-need plans.
“We have introduced new technological innovations to redefine financial planning in the Philippines,” Abaya said.
They will be using an iPad-based interactive point of sale, which allows a policy holder to get a life insurance plan based on a needs analysis using the tablet.
Proposal presentations, filling up of policy owner details and signing of applications can be done through the financial advisor’s iPad.
They have also launched e-Plan, an online self-service facility for policy inquiries, transactions and payments.
Abaya admitted that recent calamities have brought on greater awareness the need to prepare and she said they could have helped more families had they only been insured.
She also assured that Philam Life has “an excellent record of keeping promises”, having released P6.2 billion in education payouts since 2004 and P90 billion for other benefits.
“Insurance covers many areas, not just the dead and dying. It helps you prepare for different kinds of risks like dying too soon, living too long or getting sick, injured or accidents.”
Published in the Sun.Star Cebu newspaper on March 28, 2014.