Onto New Frontiers
BPI AIA Life Assurance’s first female CEO Karen Custodia talks purpose, influence and people, the cornerstones of their well-founded success
BPI AIA Life Assurance joins the forces of two formidable leaders in the finance industry. Through the collaborative model of “bancassurance”, AIA Philippines’ comprehensive insurance services are seamlessly integrated within the framework of the Bank of the Philippine Islands (BPI), a leading universal bank. This steadfast partnership, formed in 2009, enables these institutions to forge a convenient and streamlined path to financial security for all Filipinos.
“Our advantage being in bancassurance is that we are closer to the customers by being present in their bank of choice,” shares BPI AIA Life Assurance Chief Executive Officer Karen Custodia. “When everyone had to go to a physical bank branch, we were right there in those branches ready to attend to their needs—whether it’s deciding what insurance product to get or how much additional protection they need as their lives progress.” Nowadays, as even banking has gone digital, BPI AIA works very closely with BPI to deliver the best products and solutions for clients’ evolving needs.
Custodia herself is a seasoned life insurance practitioner, starting her career in the industry as a sales trainer in 1997. She joined BPI AIA Life Assurance in 2013 and has since held various leadership posts, having served as its head of marketing and preferred segment, before eventually becoming head of distribution in her nine years of serving the company. Driving profitability and growth has always been in the fine print of her titles, and it has remained a strategic priority since her appointment as CEO early this year.
“I like to think that being a familiar face to most people within the organisation gives people some comfort in having me as their leader. I like to lead by example, with compassion,” she imparts, reflecting on her current journey with a team she feels incredibly proud of.
“My leadership style does adjust depending on the situation, but I mostly like to keep steady—whether we are going through trying times or celebrating wins, we keep our focus on our end goal of protecting more customers every day, being there for them whenever they need us [and] cheering them on as they work towards living healthier, longer and better lives.”
Company culture plays a role in making them a well-oiled machine, and one could say it has taken on an even more dynamic character under Custodia’s management. She acknowledges the “energy and youth” of her staff and says, “When you see a group of people who are this passionate about their work and having fun while at it, it’s very amazing to witness. I’m thankful I have gotten to see and experience this up close for the last ten years.”
Fostering an environment that values commitment, innovation and collaboration, the accomplished CEO says there are several exciting things in the pipeline for BPI AIA Life Assurance’s bright path ahead. “We are empowered by a fantastic, youthful team whose ideas are constantly pushing us beyond our boundaries, proving to ourselves that we are capable of so much more than we initially thought,” she remarks. “Both the banking and insurance industries in the country have done a good job at adjusting throughout the years; but the next challenge is no longer just keeping up with our customers and the trends, but being ahead of the curve to lead developments.”
Custodia’s inspiring leadership, combined with her group’s enthusiasm to embrace the digital frontier, truly sets a promising course for the leading bancassurance firm. BPI AIA Life Assurance is already en route to shaping the future of the industry, granting its clients the financial freedom and prosperity to lead thriving lives.