When it comes to making conscious decisions, it appears that Filipinos are concerned about what they put in their shopping carts. According to a recent survey conducted by Allianz PNB Life, approximately 42% of consumers are more likely to shop sustainably.
In an earlier report by Nielsen, it showed that almost three-fourths of consumers around the world would change how they shop “to reduce their impact on the environment.”
“What we are seeing now is ‘the rise of the conscious consumer.’ People are now more likely to favor products marketed as eco-friendly and/or having a significant impact on the communities around them,” said Allianz CEO and President Alexander Grenz.
Allianz is here to raise awareness about insurance protection, as the country’s insurance penetration is around 2%, falling roughly 18% short of the industry’s Vision 20/20 goal.
According to the study by Allianz, 51% of respondents recognized the challenges of environmental issues like climate change and how it can negatively affect them and future generations in terms of health, wealth, and relationships, among others.
Respondents consider responsible shopping, together with education and environmental justice, to be among the three most important ways to achieve sustainability globally. Additionally, 34% said they are willing to spend more (P5,000 and up) for sustainable products, while 44% would stick to a brand that promotes sustainability.
In terms of which specific products they bought, 70% of consumers said they always went for sustainable food and beverage. This was followed by services (65%), fashion or apparel (46%), and gadgets (29%).
“Filipinos clearly want to be as sustainable as possible with the different products they buy daily,” said Allianz Chief Marketing Officer Gino Riola. “For example, a good number of people would be willing to patronize services like insurance if it were sustainable.”
Budget is also an important consideration for Filipino insurance investors who are looking for more affordable insurance packages. Allianz provides health packages that are accessible, affordable, and sustainable, reducing financial burden and meeting customer needs.
Among those surveyed, 44% agreed that health insurance can be green and sustainable. Forty-three percent said they were likely to purchase this kind of insurance. To address this growing demand, Allianz PNB Life adds more insurance solutions to its growing portfolio of sustainable offers.
Allianz Healthbox provides all-in-one access to various healthcare services. These include teleconsultations, medicine delivery, mental health wellness, laboratory services, and ambulance booking from trusted providers like KonsultaMD and Generika Pharmacy. With easy-to-avail benefits and exclusive freebies and discounts, Allianz Healthbox is a holistic approach to healthcare in the pandemic and beyond.
For nature lovers who prefer more visibility with their pledges, Allianz Protect is a simple yet comprehensive plan that can help secure the future of both Filipinos and the planet. It provides full-spectrum protection in case of death, dismemberment, and disability, and comes with flexible, budget-friendly renewal terms. It also comes with a Sustainability Protection Rider which allows customers to make a yearly contribution to the World Wide Fund for Nature’s (WWF) Foodshed Farming Enterprise Project.
In a recently concluded roundtable discussion, Allianz doubled down on its commitment to its sustainability with more initiatives this 2022. Earlier this year, they partnered with SOS Children’s Villages to deliver aid to Typhoon Odette victims and kickstart the YouthCan! mentorship program. Last April, the insurer also launched the first leg of its financial literacy program, Allianz Kaagapay, in Pangasinan.
“Our survey results show that Filipinos are becoming more mindful of the future and taking more holistic steps in preparing for it. Allianz PNB Life acknowledges its major role in this journey by making sustainability a more active and accessible practice for Filipinos,” Grenz added.