Cebuana Lhuillier Covers 5 million Filipinos Through Microinsurance
In the Philippines, where calamities like earthquakes, volcanic eruptions, typhoons, floods, and fires, seem to be an everyday threat to lives and properties, protection and risk reduction measures are vitally important.
Helping Filipinos all over the country get disaster-ready, Cebuana Lhuillier, the nation's largest microfinancial service provider, has already insured more than five million individuals through its flagship microinsurance product, the Alagang Cebuana Plus (ACP) now underwritten by Pioneer Insurance.
Over the years, Cebuana Lhuillier contributed to calamity reparation by settling more than 5,600 microinsurance claims, involving at least Php120 million claim payouts.
"Cebuana Lhuillier is committed to helping the underprivileged and underbanked be financially ready through our products and services. We value the hard work that they have poured into every centavo that they spend for their families, that is why we strive to offer products and services that empower them to make better financial decisions and that they can rely on in times of need," says Cebuana Lhuillier President and CEO Jean Henri Lhuillier.
Cebuana Lhuillier's premiere microinsurance product, ACP offers affordable personal insurance coverage for only Php25. Insureds get Php20,000 accidental death and dismemberment coverage and Php5,000 fire cash assistance valid for four months. CLIS is also poised to offer micro-life and micro-health insurance soon as ACP variants.
"Unfortunate incidents come out of nowhere and, most times, they cannot be avoided. Microinsurance can carry part of the burden. Many clients have expressed how microinsurance helped them get back on their feet after being put down by life's challenges. That's why we offer affordable premiums and convenient features such as 24-hour claims processing and simple claims documentations and requirements," says Cebuana Lhuillier Insurance Services General Manager Jonathan Batangan.
For more information about Cebuana Lhuillier's microfinancial services, visit any of the more than 1,800 Cebuana Lhuillier branches nationwide. You may also visit the official Cebuana Lhuillier Facebook page at www.facebook.com/cebuanalhuillierpawnshop and follow its official Twitter account @kaCebuana.