Company aims to “redefine industry in the age of digital” with new partnership
A new partnership has been formed between a Canadian life insurer and a technology firm which aims to “redefine the insurance industry”.
The Philippines branch of Sun Life of Canada has teamed up with Voyager Innovations, a digital services provider, as well as its mobile provider Smart Communications, to develop financial technology for emerging markets: the Philippines being the starting point.
The announcement was made as part of the Mobile World Congress event in Barcelona, in Spain. As a next step, the partners are also considering using Voyager’s digital platforms within combined synergies for the financial and technology services areas.
Rizalina Mantaring, the president and chief executive of Sun Life Philippines, believes this is just the beginning of a series of innovations for the insurance sector.
“We are set on redefining the insurance industry in this age of digital and we see this partnership with Voyager Innovations as a move towards being able to offer more innovative and financially inclusive insurance services through fintech,” she said.
Her words were backed by Orlando B Vea, the president and CEO of Voyager Innovations.
“Sun Life is one of the largest and most trusted brands in the insurance industry and their experience will give this partnership great depth and reach,” he said.
“We see the vast opportunities that the insurance business can give to our fintech initiatives, part of our mission of enabling more financial inclusion in the Philippines and beyond, through digital platforms.”
The life insurance sector has enjoyed a boom period in the Philippines – premium income leapt to P188.5 billion in 2015: that’s up from P158.7 billion just one year earlier.
The Philippines branch of Sun Life of Canada has teamed up with Voyager Innovations, a digital services provider, as well as its mobile provider Smart Communications, to develop financial technology for emerging markets: the Philippines being the starting point.
The announcement was made as part of the Mobile World Congress event in Barcelona, in Spain. As a next step, the partners are also considering using Voyager’s digital platforms within combined synergies for the financial and technology services areas.
Rizalina Mantaring, the president and chief executive of Sun Life Philippines, believes this is just the beginning of a series of innovations for the insurance sector.
“We are set on redefining the insurance industry in this age of digital and we see this partnership with Voyager Innovations as a move towards being able to offer more innovative and financially inclusive insurance services through fintech,” she said.
Her words were backed by Orlando B Vea, the president and CEO of Voyager Innovations.
“Sun Life is one of the largest and most trusted brands in the insurance industry and their experience will give this partnership great depth and reach,” he said.
“We see the vast opportunities that the insurance business can give to our fintech initiatives, part of our mission of enabling more financial inclusion in the Philippines and beyond, through digital platforms.”
The life insurance sector has enjoyed a boom period in the Philippines – premium income leapt to P188.5 billion in 2015: that’s up from P158.7 billion just one year earlier.
