More than eight million Filipinos are now covered by microinsurance through Cebuana Lhuillier.
This accounts for 30 percent out of 26.6 million Filipinos covered by some form of microinsurance product, based on Insurance Commission data in the first quarter of 2017.
Cebuana Lhuillier, a top microfinancial solutions provider, also managed to settle over P180 million in claims, providing every day Filipinos with financial security and protection during times of natural calamities and personal tragedies.
The company said it was now a key contributor of the government in ensuring all Filipinos had access to microinsurance. No other distribution channel in the country has achieved Cebuana Lhuillier’s wide market reach when it comes to microinsurance, it said.
“Cebuana Lhuillier firmly supports the government’s thrust for wider microinsurance penetration in line with its war against poverty. We are proud to be of help to the Insurance Commission reach its goal of having 60 percent to 70 percent of the population covered by microinsurance by 2020,” Cebuana Lhuillier president and chief executive Jean Henri Lhuillier said.