A BIGGER, STRONGER AND BETTER AIA PHILIPPINES FOR FILIPINOS

As a company with over 75 years of rich history operating in the Philippines, AIA Philippines, formerly known as Philam Life, is a company that has withstood the test of time. Nearly three years ago, it fully embraced its roots, finally taking on its Hong Kong-based parent company’s name, the AIA Group, and is now known as AIA Philippines.

The rebrand to AIA Philippines came with the commitment to become bigger and better, recognizing the need to innovate to keep up with the evolving needs of its customers. This year, AIA Philippines comes full circle, with its subsidiaries BPI AIA, AIA Investment Management and Trust Corporation Philippines (AIAIM Philippines), and MediCard Philippines completing its roster of companies to enable it to deliver on its Purpose to help more people live Healthier, Longer, Better Lives.

Protection For All

AIA Philippines traces its beginnings to life insurance, offering protection products to Filipinos. For years, it fulfilled its mission of racing against risk to protect Filipino families through the efforts of its thousands of insurance advisors. In 2009, then Philam Life entered into a strategic partnership with one of the largest banks in the Philippines, the Bank of the Philippine Islands, to form the BPI-Philam Life Assurance Corporation, now known as BPI AIA.

Through BPI AIA, protection and long-term savings solutions developed with the expertise of AIA Philippines becoming easily accessible to the clients of BPI, with customized insurance offerings addressing specific needs.

“Our proximity to customers allows us to have a deeper understanding of what they want and need,” said Karen Custodia, BPI AIA Chief Executive Officer. “This gives us the opportunity to respond quickly with innovations that make insurance accessible, affordable and personalized for every Filipino.”

Saving For The Long Term

In the early 2000s, variable unit linked insurance products – more commonly referred to as the VULs – became popular. These are two in one insurance solutions, offering protection while the customers’ money is pooled into funds that are invested in various financial instruments. While the returns are not guaranteed and dependent on the performance of the funds, this keeps customers protected while giving their money the opportunity to maximize its growth potential.

For AIA Philippines, the funds that are accessible through the VUL products offered are managed either by experts from AIA Investment Management Singapore for global funds, or its wholly owned fund management subsidiary, AIAIM Philippines, for local funds. “We are guided by our Hong Kong-based peers at AIA Investment Management (AIAIM) who specialize in long-term investing. We bring AIAIM’s expertise and vast experience to AIA Philippines’ customers, with a focus on sustainable themes and return sources, achieving consistent, reliable returns on a long-term basis,” said Angie Pacis, AIAIM Philippines Chief Executive Officer.

“By combining our understanding of the local market with the global capabilities of our parent company, we are able to offer customers the best options for their investments.”

As of end 2022, AIAIM Philippines has PHP155.6 billion assets across various classes under management. AIAIM Philippines solely caters to the fund management requirements of AIA Philippines and dedicates investment resources to manage its peso assets.

Healthcare As The Next Step

The traditional relationship between customers and an insurance company began to shift for AIA Philippines in 2015 with the launch of AIA Vitality, its total wellness program. From a ‘you die, we pay’ view, AIA Philippines took on a more customer-centric approach by focusing on the health of its customers. Through exciting rewards, customers are motivated to stay healthy and live healthier, longer, better lives.

While AIA Vitality remains a very strong program, the company recognizes the need to do more. In early 2023, AIA Philippines took the next big step and completed the acquisition of MediCard Philippines, one of the pioneers in the health maintenance organization (HMO) business, founded by Dr Nicanor Montoya in 1986.

With the MediCard acquisition, AIA Philippines is able to bring new products, explore other customer segments and establish fresh distribution channels to reach an expanded customer base, opening up significant opportunities to deliver more personalized health insurance with a deeper and broader coverage across the combined customer base.

“Our extensive medical service network of over 2,000 partner hospitals and clinics, and 27 high-quality MediCard-owned clinics located in key cities across the Philippines allows us to offer a broad suite of services across primary care, diagnostics, laboratory tests and minor surgeries to our customers,” explained Julian Mengual, MediCard Philippines Chief Executive Officer. “As a part of the AIA Philippines group of companies, we are in the best position to offer integrated health insurance and healthcare products to customers, supporting them at every stage of their journey,” he added.

Healthier Longer Better Lives

With MediCard now a part of AIA Philippines joining BPI AIA and AIAIM Philippines, the building blocks are complete. The company is now equipped to deliver the best protection, long-term savings and healthcare offerings to more Filipinos.

The combined strength of AIA Philippines and its subsidiaries, BPI AIA, AIAIM Philippines and MediCard puts the company in the best position to capture the opportunities ahead. For its customers, they stand to benefit with access to a wide range of solutions for all their protection, long-term savings, and healthcare needs. Together, these companies will be able to bring to life AIA’s Purpose of helping more Filipinos live Healthier, Longer, Better Lives.

Learn more about AIA Philippines by visiting:

• www.aia.com.ph or
• www.facebook.com/AIAPhilippines;
• emailing customerservice.ph@aia.com; or
• calling (02) 8528 2000.