Generali Pilipinas to Intensify Focus on Bancassurance

COMING from a strong performance of bancassurance sales in 2009, Generali Pilipinas sees a continuation of growth this year on the back of various strategies that include increased efforts and resources on both its life and non-life operations.

For life, the company, via the Generali Pilipinas Life Assurance Compay (GPLAC), will zero in on expanding the current bancassurance sales force to cover the growing branch network of Banco de Oro (BDO) more extensively. Besides selling the traditional single premium products, GPLAC will direct its sales efforts to deliver insurance protection products to an even broader segment of the BDO customer base.

GPLAC, emphasized however, that it will continue to distribute products through its career agent channel and will continue to grow it more deliberately as a high quality, professional sales outfit capable of delivering tailored solutions to its clientele.

Meanwhile, Generali Pilipinas said it will modify the scope of the non-life operations under the Generali Pilipinas Insurance Company, Inc. (GPIC) so it can focus on large local and multinational/global segments.

"With a more defined strategy moving forward, GPLAC will proceed full steam ahead to widen its reach, offer more innovative products and build on strength of its excellent relationship with its bank partners, sales force and all its business intermediaries," said Generali Pilipinas president Renato Vergel De Dios.