Insurance, insurance, insurance… Might be one of the most dreaded words in the universe. In fact, 37% of the country’s population are still without an insurance even as the industry showed growth at the end of Q3 2018. Insurance is still looked up as a lucrative investment and for those who can’t afford, it makes no difference if they are insured or not.
It’s a different thinking for those who are able to buy a premium insurance. A lot of the target market doesn’t still own an insurance policy because they would rather invest their money in other undertakings that will profit or give potential income at the most immediate time frame. Or they just simply don’t have enough information about the risks of not availing an insurance and the potential benefits of having one.
Although I am now paying for a premium insurance, I am still clueless of the potential of having it in my lifetime. Maybe, I’m still not woke to the urgencies of what might happen to me in the future. I guess, this is the mentality why 66 million Filipinos still doesn’t have their insurances.
Yet there is one insurance company in the Philippines that caters to continue its commitment to serve the unserved segment of the insurance market.
For more than 55 years, Country Bankers Life Insurance Corporation (CBLIC) remains to be a reliable insurer, true to its promise to give Filipinos simple, straightforward, and non-intimidating insurance options in the countryside through partner banks.
CBLIC is not that popular in Metro Manila but in the provinces, this insurer has been responding to the needs of SMBEs, farmers, fishermen, and public school teachers in the rural areas, a market that had been untapped in the 1960s.
CBLIC was founded by Jose E. Desiderio, Jr. on March 28, 1965 and since then, the management has been working hard to improve its products and serve their clients better, forging to solidify its position as the most affordable insurer-of-choice. It’s micro-insurance products, for instance, provide disadvantaged Filipinos access to financial support during times of catastrophe and financial distress.
“We are committed to the needs of our clients. We are proud to share our humble success with everyone who has contributed to the growth of CBLIC for over five decades, especially our clients in the countryside,” says Geraldine Desiderio-Garcia, CBLIC Senior Vice President and General Manager.
Country Bankers Insurance Group (CBIG) has two subsidiaries: CBLIC, a life insurance provider that has been in service for 55 years, and Country Bankers Insurance Corporation (CBIC), a non-life insurance company that provides motor vehicle, personal accident, fire insurance, among others.