Insular Life wins two major awards in Singapore

Insular Life has bagged two major awards from this year’s Insurance Asia Awards, held in Singapore.

The company was named “Domestic Life Insurer of the Year”, and recognized for its “Digital Insurance Initiative of the Year” given on July 13.

Insular Life won the Domestic Life Insurer of the Year award for being the only Filipino life insurance company among the top industry players here.

Insular Life also received the Digital Insurance Initiative of the Year Award for its Automated Underwriting System (AUS), which is a first in the local industry. The AUS is a rules-based underwriting system integrated with Insular Life’s online proposal, application tools, and administration system.

This system enables Insular Life to render quickly an underwriting decision during the policy application process.

The AUS has also allowed the company’s agency force to become more professional in their prospecting, selling, and servicing activities, as well as effectively provided immediate insurance coverage to customers. Winners in the Insurance Asia Awards 2017 were chosen by judges from Deloitte, Millman, Inc., Ernst & Young, and KPMG Singapore.

Insular Life also recently won the Reader’s Digest Trusted Brand Gold Award in the life insurance category, scoring significantly high in the criteria of Trustworthiness and Credibility, Quality, Value, Understanding of Customers’ Needs, Innovation and Social Responsibility.

In 2016, it was recognized as one of the Most Innovative Companies of the Year by Asia CEO Awards, and has topped the ASEAN Corporate Governance Scorecard for the life insurance sector in 2015 and 2016.