MANILA - The government's push for digitalization and use of technology in various processes are not only seen to boost its financial inclusion bid but is projected to also increase insurance penetration in the Philippines. In a virtual briefing on Wednesday, Insular Life vice president and head of digital sales distribution Geraldine Pascual said the pandemic propelled companies' resilience vis--vis the use of digital platforms and processes, among others. Pascual said this is a plus for the insurance industry because as people become more knowledgeable and comfortable on the use of digital financial transactions so is the intention to get insurance coverage. She said they "see this trend towards mainstream adoption" of technology-based transactions. "The key message here is that we will be able to realize our objective of financial inclusion for more Filipinos through technology. Technology will help pave the way for insurance to become easily accessible for most (and) to realize our dreams in InLife - for every Filipino to be financially protected and that no one left behind," she said. Authorities and insurance company executives said insurance penetration in the country remains low compared to other countries in the region at around 2 percent of the total population. Prior to the pandemic, they said growth of the insurance industry is being buoyed by the continued improvement of the domestic economy. However, the drive to have insurance protection increased during the pandemic, they said. During the same briefing, InLife executives said their company's partnership with GCash allowed the former to record PHP196 million worth of transactions in 2021 alone. InLife chairperson Nina Aguas said their tie-up with GCash is "by far, the widest net we are casting in our financial inclusion agency for women." "GCash breaks the barriers for the millions of the unbanked to avail themselves of financial services and health solutions at the most convenient and safe way," she said. Through the GCash app, InLife offers term life insurance and accident insurance that do not need medical examinations. InLIfe also offers prepaid cards of its health subsidiary, Insular Health Care (IHC), through the app, a move towards its advocacy of promoting financial inclusion and empowering women through technology. Tricci Rose Sadian, head of Sales and Marketing Division, Insurance Health Care, said around 70 percent of their customers are women, adding that "we must take seriously that women today have strong influence in the economy." "Women are becoming more financially knowledgeable. Part of that knowledge is the connection between financial health and personal health as poor health and financial difficulty may go hand in hand," she said. She added that "women know that investing in their health is important for building resilience against future financial health." (PNA) }

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Manila , Philippines , Filipinos , Filipino , Nina Aguas , Geraldine Pascual , Tricci Rose Sadian , Insular Health Care , Marketing Division , Insurance Health Care , Insular Life , Rose Sadian , Manila The Government 39s Push For Digitalization And Use Of Technology In Various Processes Are Not Only Seen To Boost Its Financial Inclusion Bid But Is Projected Also Increase Insurance Penetration Philippines Ina Virtual Briefing On Wednesday , Nsular Life Vice President And Head Of Digital Sales Distribution Geraldine Pascual Said The Pandemic Propelled Companies 39 Resilience Vis Use Platforms Processes , Mong Others Pascual Said This Isa Plus For The Insurance Industry Because As People Become More Knowledgeable And Comfortable On Use Of Digital Financial Transactions So Is Intention To Get Coverage She They Quot See Trend Towards Mainstream Adoption Technology Based Key Message Here That We Will Be Able Realize Our Objective Inclusion Filipinos Through Help Pave Way Easily Accessible Most Dreams In Inlife Every Filipino Financially Protected No One Left Behind , Uot She Said Authorities And Insurance Company Executives Penetration In The Country Remains Low Compared To Other Countries Region At Around 2 Percent Of Total Population Prior Pandemic , Hey Said Growth Of The Insurance Industry Is Being Buoyed By Continued Improvement Domestic Economy However , He Drive To Have Insurance Protection Increased During The Pandemic , Hey Said During The Same Briefing , Nlife Executives Said Their Company 39s Partnership With Gcash Allowed The Former To Record Php196 Million Worth Of Transactions In 2021 Alone Inlife Chairperson Nina Aguas Tie Up Is Quot By Far , He Widest Net We Are Casting In Our Financial Inclusion Agency For Women Quot Gcash Breaks The Barriers Millions Of Unbanked To Avail Themselves Services And Health Solutions At Most Convenient Safe Way , Uot She Said Through The Gcash App , Nlife Offers Term Life Insurance And Accident That Do Not Need Medical Examinations Inlife Also Prepaid Cards Of Its Health Subsidiary , Nsular Health Care Ihc , Through The App , A Move Towards Its Advocacy Of Promoting Financial Inclusion And Empowering Women Through Technology Tricci Rose Sadian , Ead Of Sales And Marketing Division , Aid Around 70 Percent Of Their Customers Are Women , Dding That Quot We Must Take Seriously Women Today Have Strong Influence In The Economy Are Becoming More Financially Knowledgeable Part Of Knowledge Is Connection Between Financial Health And Personal As Poor Difficulty May Go Hand , Uot She Said Added That Quot Women Know Investing In Their Health Is Important For Building Resilience Against Future Financial Pna ,