BPI AIA Life Assurance Corporation (BPI AIA), the strategic alliance between AIA Philippines (formerly Philam Life) one of the leading life insurers in the country and Bank of the Philippine Islands (BPI), the first bank in the Philippines and in the Southeast Asian region, proudly celebrates 15 years of delivering on its promise to build better lives and futures for BPI customers. Since 2009, the company has provided access to reliable, affordable, and accessible insurance solutions to more than 10 million BPI customers, demonstrating significant growth and establishing itself as a digital leader in the Philippine insurance landscape.
From a vision to help Filipinos achieve their dreams, BPI AIA began its journey with just over 300 Bancassurance Sales Executives assigned in BPI branches nationwide. Today, that team has grown to over 1,500, driving consistent growth and extending the company’s reach nationwide. Within its first three years since inception, BPI AIA reached its first billion annualized net premium milestone—a testament to its commitment to innovation and customer-centric solutions.
A key driver of BPI AIA’s success has been its pioneering spirit in digital transformation. It has consistently led the industry in adopting digital solutions, from launching iPos, the first paperless insurance application system in 2013, to introducing eADA for streamlined premium payments, eKYC for remote customer onboarding, and eBiller and ePlan for enhanced customer experience. These advancements have made insurance more accessible and convenient for millions of Filipinos nationwide.
The partnership with BPI has been instrumental in extending this reach and impact even further, leveraging BPI’s extensive network and customer base to provide financial protection to a wider segment of the Filipino population. BPI AIA’s life insurance protection products complement the bank’s various offerings, allowing customers to have a full financial portfolio for their needs.
BPI AIA has also demonstrated resilience and adaptability in the face of challenges. During the COVID-19 pandemic, the company swiftly pivoted to virtual operations, ensuring uninterrupted service to customers, providing free COVID-19 coverage to customers, and creating new jobs amidst the crisis.
In 2021, with the transformation of AIA Philam Life to AIA Philippines, BPI-Philam likewise evolved into BPI AIA, marking a significant milestone and ushering in further advancements, including the integration of MyData in BPI, which allows customers to experience a simpler and faster application process, and the launch of PamilyaProtect, a revolutionary microinsurance product which can be purchased via Facebook Messenger. These initiatives led to n BPI AIA being recognized as the World Finance Best Life Insurance Company in the Philippines. This commitment to providing innovative solutions is exemplified by the launch of BPI AIA Aspire, a peso-denominated participating life insurance plan offering double protection, guaranteed cash benefits, and savings potential to help Filipinos achieve their dreams.
In photo: BPI AIA Chief Executive Officer Karen Custodia
“Over the past 15 years, BPI AIA has provided financial security to millions of Filipinos, laying a strong foundation for a secure future for generations to come,” says BPI AIA Chief Executive Officer Karen Custodia. “We’re committed to expanding financial literacy programs, developing new insurance products for underserved segments, and leveraging AI to personalize customer experiences.”
BPI AIA marked its 15th anniversary with an event bringing together current and former employees and executives. The celebration showcased the company’s diverse talent through various employee performances. A highlight of the celebration was the introduction of the BPI AIA Chorale and the debut performance of the BPI AIA hymn, symbolizing the company’s unified spirit and shared commitment to its enduring legacy.
In photo: The BPI AIA Chorale
By the third quarter of 2024, BPI AIA has brought in nearly Php 6 billion in annualized new premium, now poised to end the year strong and retain its position as the leading bancassurance company in the country.
As it celebrates this milestone, BPI AIA looks forward to continuing its mission of protecting Filipinos and empowering them to achieve their financial aspirations. With a rich history of innovation, resilience, and customer-centricity, the company is poised for continued growth and leadership in the years to come.
ADVT.
This article is brought to you by BPI AIA Life Assurance Corporation.