PHILAM Life unveiled yesterday its Philam Life Center Cebu, the firm’s headquarters here.
Philam Life Chief Executive Officer Aibee Cantos said the 16-storey corporate center signifies the firm’s strong commitment and sustained confidence in Cebu, as well as in its neighboring islands.
“This is our firm commitment to become a strong partner for public and private sectors in addressing the varying needs of our customers. Cebu and the Visayas have always been important for Philam Life,” said Cantos.
The insurance firm has about 700 licensed insurance agents present in the Visayas, serving over 70,000 clients.
Philam Life Center Cebu broke ground in 2015. It is located along Cardinal Rosales Ave. in Cebu Business Park and will be the new home of Philam Life employees and partners. The center also offers office spaces for corporate and business process outsourcing locators.
Philam Life Center Cebu is said to be the second biggest building owned by the company in terms of space, next to Philam Towers in Makati, which has 44 levels.
Cantos said the inauguration of Philam Life Center Cebu coincides with the firm’s 70th anniversary celebration in the Philippines.
In a statement, Philam Life said it is determined to “outdo itself and reach greater heights.”
The top official also disclosed the firm’s plan to expand its investment portfolio in the infrastructure sector as it plans to extend financing for more government infrastructure projects to help sustain the country’s economic momentum.
The firm also promised to grow its performance this year as it emphasizes health and wellness advocacy.
The firm recently launched the Live Better campaign, which aims to make healthy living more accessible to Filipinos.
Philam noted that in the 2016 Healthy Living Index, health was the primary concern of Filipinos. However, this does not translate into action, creating a gap between their concerns and what they actually do. The firm believes this gap is an opportunity to capture the wellness sphere.
“Life insurance in the Philippines has made a lot of progress but much remains to be done,” he said. Insurance penetration in the Philippines contributes to a mere 1.75 percent of gross domestic product, still lower than the Southeast Asian average of three percent.
Moreover, Cantos said that as they enroll more Filipinos into the insurance ecosystem and narrow the protection gap, Philam Life will make significant investments in new technologies that will enhance customers’ experience and entice more Filipinos to get protected. (KOC)