Generali Pilipinas and BDO Bancassurance soars to greater heights

Generali Pilipinas, one of the fastest growing insurance companies in the Philippines and the exclusive Bancassurance partner of the country’s largest bank, BDO further drives focus in growth and profitability from the joint strategic Bancassurance partnership.

“We have a great venture with BDO. Through BDO’s support, the Generali-BDO venture has posted P2.2 Billion year-to-date Individual Life premiums, a 226% production growth over July last year. This shows that the partnership has sustained its record-breaking performance since March 2009.” shared former Bancassurance Head now appointed Chief Marketing and Training Officer Melvin Esteban. He also said that the Company will have 16 new product offerings this year to sustain this growth momentum in Bancassurance. “We look forward to introducing 4 products monthly to complete the availability of the 16 products before the year ends. In fact, the first 4 products have been launched already.”

“We have established a very good Bancassurance model which serves as a very good foundation as we enter into exclusivity with BDO,” shared President & CEO Derek Chan. With the exclusivity, he said, Generali gains a stronger footing in the Bancassurance business, since this will allow greater intelligent cross-selling of Generali’s products to a wider BDO client base.

This exclusive arrangement expands Generali’s reach through the wide network of BDO branches nationwide. Officials said that aside from launching diverse products, the Company will employ over 100 competent Financial Advisors by October this year to meet all the needs of BDO clients and accelerate profitable growth for the Generali & BDO Bancassurance team.

Generali and BDO’s Bancassurance partnership is borne out of the strategic alliance between two big names in the financial industry. Generali Pilipinas, a partnership among three financial giants – Assicurazioni Generali of Italy, one of the world’s largest insurance company, Jerneh Asia Berhad of Malaysia, a specialist insurer in the marine, industrial, and engineering fields, and BDO, the country’s largest bank.

Generali has breached its P3 Billion mark, surpassing its 2008 12-month results with P3.05 billion year to date premiums as early as July this year. It is a one-stop-shop for all your insurance needs. Its products and services include individual life insurance, group life and medical, auto and home insurance, small and medium business protection, as well as commercial property insurance. It has offices in Metro Manila, Bacolod, Baguio, Cebu, Davao and other major cities throughout the country.