Sun Life Grepa aims to provide insurance for every Filipino

THE country’s life insurance industry has been investing heavily in new technologies while nurturing partnerships to stay in the game.

That was the message Sun Life Grepa Financial Inc. and key partners such as Sun Life Philippines, sent at the celebration of the former’s 70th anniversary at the YSpace at Yuchengco Museum in Makati City last March 8.

The celebration, A Journey to Brighter Futures, looked at how Sun Life Grepa served Filipinos and how its commitment to change and innovation could build a path to life’s milestones.

Sun Life Grepa board director Riza Mantaring said insurance penetration in the Philippines remained below 2 percent due to the industry growing slower than the gross domestic product.

Hence, changing client behavior, legislation and the enforcement of government institutions would shape and potentially accelerate industry growth.

Sun Life Grepa president Richard Lim highlighted how the joint venture company, on its 70th-year milestone, looked forward to 2024 and beyond.

He also shared more about Sun Life Grepa’s market-responsive products, catering to very specific needs of different markets in areas that included health and wealth building.

Lim also talked about moving forward into the next 70 years with a strong focus on nurturing client relationships by leveraging new technologies.

Lim was the incumbent president of the Philippine Life Insurance Association, the trade organization of the country’s life insurance industry, recognized by the Insurance Commission.