At Insular Life, our reason for being begins with our sense of purpose and stewardship. While generating profit is important for us to be financially stable and magnify our impact, our purpose goes beyond our bottom line.
When COVID-19 arrived in our country, we had to redirect our priorities and redeploy our resources to respond to the biggest public health, financial, and humanitarian crises our country — and the world — has ever faced. On top of the global pandemic, we also found ourselves coming to the aid of our countrymen whose lives were disrupted by the eruption of Taal volcano and three devastating typhoons.
Keeping everyone safe was our paramount concern. When the Enhanced Community Quarantine (ECQ) was first enforced in March 2020 to curb the virus outbreak, we immediately activated our business continuity plan. Thankfully, when the pandemic came, our dual transformation strategy, “Revitalize Today, Build the Business Model of the Future,” was already on its third year, so we were able to switch to digital mode with less friction.
Even when most of our teams were working from home during the prolonged lockdown, we were able to build digital applications that allowed us to operate purely online, and as close as we can get to “business as usual.” This ensured InLife’s uninterrupted service to our policyholders and our partners in local communities.
Fortifying our IT infrastructure over the years has enabled us to empower our cross-functional teams and front liners with all the digital tools they need to support business generation, business conservation, and customer service. With a digital culture mindset, we were quick to design and launch new products and services, particularly those that address our customers’ health care and life protection needs, as well as engage our policyholders through digital channels, and give wider access to premium payment facilities.
Technology, however, only enables us to navigate the challenges of the pandemic. Ultimately, this humanitarian crisis still demands a humanitarian response.
Even as we had to grapple with the double-digit contraction in our financial results in 2020, we insulated our employees and our agents from the economic stress induced by the pandemic. We focused on the most urgent needs of our local communities and addressed them the best way we can.
To make our 110th anniversary celebration simple but impactful, we launched the Chain of Protection (CHOP) campaign to provide free accident insurance with Covid cover to 110,000 non-medical essential workers. CHOP was our response to the need for protection especially by those who are most vulnerable working onsite such as drivers, delivery personnel, call center agents and many more.
We also provided personal protective equipment, temporary shelters, food and equipment, and insurance coverage to our health front liners at the height of the lockdown.
The pandemic also served as an opportunity for Insular Foundation to extend help to those in need, aside from its regular beneficiaries. InLife’s purposeful mission is to make lives better through education and community partnerships. Our Insular Foundation personnel never faltered nor hesitated to be at the forefront of InLife in reaching out to communities in spite of the health risk.
As one of the few Filipino companies that has survived for 110 years, InLife is blessed with a unique responsibility and a special accountability to the country. Many generations have witnessed our enduring commitment and heritage. In times of war, financial crisis, or pandemic, we stayed invested when others had left.
This year, we must begin to move forward in spite of the pandemic that continues to rage. Our agency force and bancassurance channels are ready to take on the new challenges. We have the technology we need to support our ambition to focus and thrive. We must continue to be agile in anticipating changes in our rapidly evolving business environment. And we must sharpen the skill of listening with understanding so that we can be able to develop products and services that our customers truly need in the shifting and precarious times ahead. We have already achieved so much together during this pandemic.
Our employees set aside their own personal difficulties to work long, fast, and hard, to serve our organization. We have an agency force that have found ways to look out for our policyholders’ needs, notwithstanding their own remote work challenges. I am filled with humility and gratitude to all of you and hope that you continue to fearlessly live our purpose so that our kababayans, our communities, and our country can look forward to a better future.