Manulife Philippines has launched Manulife Shop (https://manulife.com.ph/online-shop), a new digital platform for buying affordable insurance online.
Manulife Shop offers annually renewable insurance solutions that allow clients to choose their coverage based on their budget, with life protection coverage up to Php 1,000,000, subject to policy terms and conditions. The platform was built in conjunction with Democrance, a quick and secure insurtech start-up for emerging markets.
Manulife Shop offers Filipinos seeking digital insurance. 90% of Filipinos surveyed by Manulife use e-commerce apps, and 82% use finance apps for cashless payments or buying insurance. 25% of Filipino Gen X and 33% of Filipino millennials have bought insurance online in the past year, and 41% of Gen Zs are considering doing so in the coming year. Convenience (45%), security (22%) and protection (17%) were listed as factors for obtaining insurance online.
“Manulife Shop is our latest initiative to provide intuitive, convenient, and frictionless customer experience for today’s hyper-digital Filipinos, in line with our ambition to be the most digital, customer-centric global company in our industry,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. “Through Manulife Shop, we respond to the needs of Filipinos who want access to easy and affordable insurance protection options, with the comfort of digitally driven customer experiences where they can transact seamlessly.”
What are the products that can be purchased on Manulife Shop?
- 365 Ready Accident: An accident life insurance plan that covers accidental death, dismemberment, total permanent disability, double indemnity, and family assistance for as low as Php199.00 a year;
- 365 Ready Life: A term life insurance plan that provides coverage for as little as Php249.00 a year;
- 365 Ready Duo: A combination of term life and personal accident insurance plan that provides both life and accident protection benefits for as low as Php448.00 a year
Interested customers may reach out to a Manulife financial advisor for advice and consultations. To learn more about Manulife Shop, visit https://manulife.com.ph/online-shop
