Here’s how you can answer both your biggest New Year’s Resolutions with one solution

Tweet

It’s that time of the year when everyone thinks of #Goals to make or break for the year. Before you get tempted to create a long list of to do’s and must haves for 2018, focus on must do’s. Simple resolutions can bring you a long way if they’re doable, feasible, and impactful.

On your new journey toward living better next year you may come across challenges. But with a strong and dependable partner to lend you a hand, ticking off the must do’s in your list will be an easier and more rewarding experience.

Two for one 

Research institute, StatisticBrain ranks healthy living and wiser financial decisions as the two resolutions that regularly top anyone's list, but Time Magazine says they are some of the most common ones to break throughout the year.

Regardless, the secret in successfully ticking off any item in your annual list of goals is to get help – a buddy for an extra boost to hit two targets with one swing! 

Fitness and financial plans may be a challenge to keep, but BPI-Philam offers their latest Wellness Series to help you get started and encourage you to lead a life of total wellness. This takes care of both your financial and physical health through four personalized insurance products integrated with Philam Vitality, a science-backed wellness program that rewards your healthy choices. 

Through the Wellness Series you get comprehensive life and health protection, and with Philam Vitality you get upfront 20% additional life coverage, and additional lifestyle rewards throughout your wellness journey. Philam Vitality empowers you to take consistent steps toward a healthier and more fulfilling lifestyle – as you continuously do more healthy activities, your Vitality status increases and can give you additional life insurance coverage increase of up to 50%!

More rewards await you with every healthy decision you make! When you take steps to know and improve your health, you get exclusive discounts on services and exciting items like: screens from Hi Precision diagnostics and Makati Medical center, gym membership from Gold's Gym, and sports apparel from Garmin or Toby's Sports. Then, enjoy rewards like discounted air fare on your next Philippine Airlines trip, hotel room reservation at Seda or Marriot, or tickets to Enchanted Kingdom and SM Cinemas!

Which Wellness Series product is for you?

For your protection and insurance needs, choose among Life Ready Plus, Critical Care Plus, Critical Care Max, and Build Estate Plus--affordable solutions that secure your health and build your wealth. 

While each of us may generally have similar health goals, we also have specific financial needs according to which of life’s key moments we are in.

For as low as P 2,100 a month, first jobbers and young professionals can build a protection fund for the future early on with Life Ready Plus. This plan also protects them for as long as needed by providing insurance coverage up to 360x their monthly premium. 

Meanwhile, employees looking to maximize their health and life insurance to keep providing for their families, will find a fit with Critical Care Plus and Critical Care Max. Either policy gives them and their loved-ones peace of mind by providing cash benefits upon diagnosis or early stages of critical illness. It also builds a health fund that accumulates over time to support future health needs. This minimizes costly hospitalization and medical fees so they can focus on recovering and enjoying moments with their family.

Finally, people preparing for retirement and continually need protection for their assets can do so worry-free and with ease through Build Life Plus. With its life insurance benefit, estate taxes can be covered to secure their legacy, wellness, and their family’s future through health. 

Every product also offers riders you can add to the policy to add peace of mind by maximizing protection and customize your cover to make sure it fits other needs you might have.

With your top two, yearly concerns efficiently out of the way, you can focus on accomplishing the things you love doing for the rest of the year without hassle or holding back.

Make nothing but the best life choices as you enter 2018 with BPI-Philam and get ready to live better and healthier not just for the new year but for the many fulfilling years to come.

Partner up with BPI-Philam in planning for a vibrant future today by visiting www.bpi-philam.com  or any BPI branch across the country. Want to know more? Send us your inquiries at  www.facebook.com/BPIPhilamOfficial .

BPI-Philam improves customer access with Financial Technology

Tweet

“Digital Transformation” is a buzzword taking over a lot of tech companies in the Philippines and all over the world, but the use of technology to revolutionize how companies reach their customers isn’t unique only to tech giants.

In celebration of Bancassurance month, BPI-Philam shares how fintech shouldn't just be at the fringes of the business and the customer journey, it should lead it.

“Revolutionizing financial security and insurance is not only about improving products – it’s also about improving our customer’s experience every time they interact with us,” said Surendra Menon, BPI-Philam CEO. “People used to have to take ten or twenty steps before they get their hands on the policy that they want. Technology has helped us cut those steps significantly, and it has allowed us to fulfill our mission of making insurance easy to get and easy to have.”

Front-end automation

BPI-Philam saw the opportunity to modernize insurance selling practices through the Interactive Point of Sale (iPoS), a first in the life insurance industry. Every Bancassurance Sales Executive (BSE) is equipped with this technology to guide customers through the insurance process quickly and efficiently.

"iPoS was birthed to replace bulky equipment and reduce physical paper trail documents for prospects and their transactions," said Christian Ventura, Head of Process and Systems Support for BPI-Philam. "Not only is the old way taxing for both BSEs and customers, it makes the customer journey difficult and riddled with error. This discourages insurance applications."

The iPoS eliminates the need for physical application forms and papers. Every BSE in any BPI branch nationwide carries a tablet with the iPoS app. Through this app, the BSE can instantly access product information, assess the client's need and risk profile, and generate a suitable proposal and policy number efficiently. Once the policy is submitted the BSE can easily track the status of a client’s policy application through a dedicated web portal they can access anytime.

iPoS also allows BSEs to capture, sign, and submit documents with ease through eSignature and ID Capture eliminating the need for photocopies.

"The iPoS shortened the usual transactions that used to be manually inputted through a computer and jotted down on paper," Ventura said. 

"Upon our adoption of the portal, we saw an 80% improvement on the speed of policy application reviewing process. This means that most transactions made went straight through with less error and delay."

Ventura also said that since its use, BSEs reported experiencing fewer rejections as customers were enticed to commit to acquiring insurance policies because of the convenience it offered. They were not required to return to their bank's branch nor were asked to repeat the entire transaction if there was a lack of certain requirements. 

Aside from helping in sales, the iPoS also helps its BSE improve and outperform their targets through an embedded activity monitoring module.

Modern client servicing

The company followed this up with Interactive Client Assistance and Requirements eSubmission – (iCARE), an interactive iPad application which was engineered to aid BSEs in after-sales servicing. Through the app, customers can easily file for requests and other transactions regarding their policies with ease even offline. It also guides customers in telling them what necessary documents they need to submit at one point of the process.

Prior to iCARE's adoption, there was an average 48% of unclean (incomplete, error-laced) policy transaction requests. Past 2016, this average dropped to a meager 6%. This means a faster rate of approval for new applications and any policy data change, providing customers with even more convenience.

Both the iCARE and iPOS utilize 256-bit encryption to strengthen security measures against data privacy risks.

Fraud is also minimized and deterred as transactions made by BSEs are tracked from start to finish.

"This makes our BSEs literal one-stop shops for transactions while helping them improve and sharpen their skills," said Ventura.

Continual access even online

Extending the ease of access to insurance online, BPI-Philam also opened its first Facebook page to the public.

"For this year's bancassurance month, we had surprises in each BPI branch for our customers, we’ve also recently launched a new platform through Facebook where we can reach them," said Menon.

He underscored the importance of opening new channels to make themselves more accessible to customers and prospects who are digital natives and are expecting consistent customer care online.

“With these portals, better service with BPI-Philam simply means quicker, cost-efficient transactions secured across modern platforms for convenience,” Menon concludes

Experience ease in planning for the future, visit www.bpi-philam.com or better yet, drop by any BPI branch across the country to know more. 

Need help in taking your first steps to financial success? Check out www.facebook.com/BPIPhilamOfficial for tips, you can also send a message for additional assistance too!

Five faulty insurance assumptions you've fallen victim to

Tweet

When it comes to being smart about your money, nothing casts a greater shadow of doubt on your next investment than misleading information.

BPI-Philam, the country's premier bancassurance company, listed the top five myths you might have heard stopping you from getting your own insurance policy.

#1: The benefits aren't for now, only later when I get sick or die

Life insurance was once inaccurately touted as a contingency plan for sickness or worse, death.

Now it strives to be the Filipino's partner for total wellness through Philam Vitality, a wellness program designed to reward policy holders for being and staying active.

It isn't just about helping customers live, it's helping them live better.

#2: It's not for me

One size does not fit all. 

Insurance policies may differ between key moments in your life, but one thing is sure--there is a plan that fits your financial needs.

You may be starting a business, readying yourself for marriage or parenthood, acquiring a home or your dream car, going abroad, or even retiring--one thing remains: everyone is still at risk of getting sick, living too long, or dying too soon.

#3: It's expensive

For so long, "expensive" has erroneously been equated to "quality" and anyone who dared say otherwise is shady.

Whether you have two or ten thousand pesos, great comprehensive insurance products are made available for your specific need.

With a budget of P 1,600 a month for a policy you can have quality and comprehensive coverage assured with no strings attached. That's just P 55.00 a day! 

Imagine, the 55 pesos you'll be spending on unhealthy fast food meals or prepaid mobile data could be your start to protecting your future!

#4: I don't know where to get it

Insurance has become easier to get and have because you can obtain it through a bank.

In this era of bancassurance, insurance becomes more accessible by being offered in any BPI branch nationwide.

#5: It takes long to pay

Insurance payment terms are no longer a question of "How long do you need protection?" because a need isn't necessarily long nor short-term.

BPI-Philam sees security and ease of mind as needs for the appropriate term--for as long as your need exists.

They won't cause you to break your back paying premiums for the "long-haul" but will assure and protect your future through forward-thinking policies that aren't hard on you.

To experience great quality service and get top-notch products for yourself, visit: www.bpi-philam.com

BPI-Philam offers easy adulting and total wellness to millennials

Tweet

Financial planning is a topic most millennials rarely consider. This is often seen in behaviors of impulse purchases—using their hard-earned money in things that are temporarily meaningful, that at times lead to a feeling of regret, or what is simply called a grudge purchase.

A Goldman Sachs study revealed that generation "ME ME ME" would rather save up for vacations and leisure activities to enjoy their life now than invest in their future--marriage, a home, their own business, retirement plans. This despite financial institutions constantly encouraging them to favor savings and investments.

For Surendra Menon, CEO of BPI-Philam, millennials can choose to have the best of both worlds.

“They can live their present life to the fullest and have a secured future at the same time. It's a misunderstanding that has to be clarified—protecting your future is simply making sure you can enjoy the lifestyle you have now and for the years to come." - - Surendra Menon

Hierarchy of needs

For Menon, gone are the days when insurance is seen as a contingency plan for sickness and death. 

BPI-Philam now offers themselves as a partner for total wellness – securing both physical and financial health, providing better value for money.

He mentions BPI-Philam’s comprehensive health products that lend a hand in living a better life all throughout, and not just when illness strikes.

"Millennials have been hailed as the most health-conscious generation," Menon attests. 

"For them, wellness is a priority. They are willing to spend money to exercise regularly and eat healthy. Our priority is the same, that's why we've integrated ways for them to maintain that lifestyle with our products."

One of the ways BPI-Philam does this is by providing Philam Vitality with their policies—a wellness program designed to reward the policy owner for being and staying active.

“Through Philam Vitality, we’re encouraging them to take that first step to wellness and keep at it by giving them unparalleled rewards and exclusive access to partners like gyms and medical facilities,” said Menon.

The Adultier Adult

He understands that taking the first step to financial planning through insurance might be a big leap from what millennials are used to. Menon assures them that they are on the right track of independence, or simply put, getting better at adulting.

"This new generation of consumers is just wary of where they put their money. They aren't ignorant of insurance," he said. "They just want to be assured that they are getting the value in return of what they pay for. Convenience and customizability are also a factor. We have all of those, but what we truly offer is peace of mind and a way to the wellness of the body.”

To make it simpler for millennials to step out, BPI-Philam eases them into planning forward through platforms that will keep up with their mobile lifestyle.

"These products are available and offered in all BPI branches across the country," Menon enthused. "Whether offline or online, we are prepared to serve.”

Aside from a bancassurance team ready to assist them anywhere in the Philippines, getting a hold of the most fitting policies have been made easier online through their website as well.

Menon also urges them not to look at these plans with the future as an ultimatum to get adulting done but to look forward to an assured future and live a life of total wellness.

"These plans aren't short nor long-term," he adds. "one should always look at what’s an appropriate term for yourself to ensure you get the best value for your money. Our products are based on the appropriate term for your needs.”

Menon hopes informing this generation better of what financial wellness plans are available would align them to the direction they dream their lives would go. 

He believes that with the right financial mentor encouraging them, they will surely gain and win in each key moment in their lives.

"I think they are done hearing what they could do," he said. "It's time we show them that we believe what they can do."

To take the first step in living life to its fullest, visit: https://www.bpi-philam.com/en/our-products.html

About BPI-Philam

BPI-Philam Life Assurance Corp., is a strategic alliance between two leading companies in the country – The Philippine American Life and General Insurance Company (Philam Life) and Bank of the Philippine Islands (BPI). Philam Life is the premier life insurance company in the Philippines and the market leader for over 60 years. BPI is a leading commercial bank in the country with over 160 years of experience in the local banking industry and an extensive branch network of more than 800 branches and 1,500 ATMs.

BPI-Philam’s professional and expertly trained Bancassurance Sales Executives are assigned in BPI branches nationwide to render financial advisory services that address customer’s financial and protection needs.

With the combined expertise and resources of these two trusted companies, BPI-Philam policyholders are assured that their insurance is backed by financial strength and stability.