Globally and nationally we might well be living in the most uncertain period of the century. After two years of working from home, a workforce returning to on-site employment is now faced with soaring fuel prices. Meanwhile, while the worst of the COVID-19 pandemic, the worst global crisis of the 21st century, is seemingly over, leaders have warned against the relaxation of vigilance.
Virus outbreaks are happening across Asia, while Filipinos have all but returned to pre-pandemic activities such as working in offices, riding overcrowded public vehicles, and frequenting malls in what the Seattle Times describes as “The Mall Capital of Asia”.
“Local pump prices of gasoline and other petroleum products are rising at a pace never seen before,” reads a Philippine Daily Inquirer article. Naturally, inflation has followed, rising to 4% after holding steady at 3%, according to a Philippine Statics Authority (PSA) report. With transport inflation already at 10.3%, virtually every industry is expected to follow.
In the meantime, WHO has cautioned against letting our collective guard down when it comes to COVID-19. In not too far off Shanghai, lockdowns have expanded to cover 26 million people as cases continue to mount. About 38,000 additional healthcare workers have been deployed, in what has been Shanghai’s largest health response since the pandemic began according to Reuters.
South Korea, once a model for efficient COVID-19 response, is also seeing record cases and fatalities. The highly developed and largely vaccinated nation reported their single highest deaths in a single day a little over a month ago, according to Aljazeera.
And yet against WHO advice, droves of Filipinos are returning to life as it was pre-COVID-19, with facemasks as the only visible indicator that there was ever a pandemic. Be it cramming into public transport, working in airconditioned offices, hanging out in malls, or even having family reunions, Filipinos have moved on, perhaps quite prematurely.
Echoing this is AXA Philippines CEO Rahul Hora: “In the Philippines, we should all be aware that fortunes can turn on a dime. On December 21 of last year, we recorded what was at the time the lowest number of new daily cases at 168. On January 15, 2022, less than a month later, we hit our highest single day new cases tally at 39,004.”
In such times, everything that is of great value or which will be difficult to replace should be insured. “We really need to imagine what will happen if an outbreak happens now, amidst pre-pandemic traffic, astronomical fuel prices, the workforce largely back in their offices, and people back in the malls in droves,” cautions Hora.
More than it has ever been before insurance offers vital protection against uncertainty In all its forms. As insurers go, AXA Philippines presents both a trusted and convenient option for virtually all insurance needs. The efficiency and convenience of dealing with a single trusted global insurer can help bring security and peace of mind in these increasingly uncertain times.
Fortunately, the insurance industry has adjusted to better meet the evolving needs of Filipinos amidst rapidly changing times. One of the biggest adjustments AXA has made to serve the public better is the new Health Care Access plan. “Due to reduced travel in the time of COVID-19, AXA has come to realize that our Global Health Access product might be a bit of overkill for many, as people have not been traveling abroad nearly as much,” explains Hora. “Health Care Access comes at a significantly lower premium because it does not cover policy holders when they are out of the country.”
There have even been changes to non-life products. AXA’s home insurance now comes with COVID-19 disinfecting benefits, with the homes of COVID-19 patients professionally sanitized after their crises are over. As budgets constrict and purchases such as new cars are put on hold, AXA offers protection for older cars that do not include theft insurance. This saves policyholders from paying premiums on coverage they aren’t very likely to need.