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Thursday, March 28, 2024

EastWest Bank, Ageas expand insurance venture

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EastWest Bank and Ageas celebrate this year the fourth anniversary of their joint venture in the Philippines. The partnership operates under the brand name Troo to offer life insurance to customers of EastWest Bank and Filinvest Group.

“From the start, Troo has been embracing the latest technology and digital solutions as a core of its daily business,” says Troo president and chief executive Hans Loozekoot.

“We are the first insurance company in the world to put in place its end-to-end integrated IT platform in the cloud. This enables us to offer our customers a seamless experience and optimize our operations,” he says.

From left: Troo chief strategy and business development officer Dominik Smeets, Troo president and chief executive Hans Loozekoot, EastWest Bank vice chairman and chief executive Antonio Moncupa Jr. and EastWest president and deputy chief executive Jesus Roberto Reyes.

“Bancassurance is a key pillar of our growth strategy,” EastWest Bank vice-chairman and chief executive Antonio Moncupa Jr. says. “We now offer a complete menu of financial services to every Filipino—whatever their needs may be.”

EastWest president and deputy CEO Jesus Roberto Reyes says: “Troo is becoming an important contributor to the bank’s fee income.” 

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Soon, Troo will launch its innovative GoTroo customer engagement platform. It’s a mobile-first platform that is being developed by Troo’s agile team.

“GoTroo is integrated with our back-end systems,” says Loozekoot. “And it will give customers access to real-time information on their Troo policy. Additional innovative functionalities of the platform such as voice recognition for login and chat features are underway.”

“To mark the anniversary, we’re launching Troo BuildWealth Limited Pay,” says Dominik Smeets, chief strategy and business development officer of Troo.” “Other exciting products are also in the making.”

BuildWealth Limited Pay is the latest variable unit-linked product from Troo. It’s the first real limited pay VUL in the country that gives customers choices for their payment period, whether it’s 3, 5, 7 or 10 years. 

BuildWealth Limited Pay is the third option in the VUL suite of solutions, “Grow your wealth, your way.” Like the other two solutions, BuildWealth Limited Pay combines life insurance with investment options.

The new insurance solution is expected to boost the growth for Troo to become a top 10 life insurance player in the coming years.

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