Insular Life (InLife) said its advocacy that aims to empower women has reached lives of more than 7.6 million Filipinos since its launched in 2019.
InLife Sheroes Program Manager Josephine Manankil-Gonzales said movement that aims empower Filipino women has come a long way, having achieved 765 percent of its three-year target.
In 2021 alone, Gonzales said the program was able to hold a series of sessions on financial literacy and gender sensitivity training as well as mentoring sessions with outstanding women in their respective fields.
In addiction, InLife Sheroes partnered with various organizations that cater to women for health and wellness campaigns as well as solutions for women-specific needs.
“InLife Sheroes stays true to its mission of empowering the Filipino women through its four pillars of Financial Education, Health and Wellness, Women-specific solutions, and Access to Social and Business Networks,” Gonzales said.
She added that InLife Sheroes also provided women entrepreneurs an avenue to reach out to more customers through the Digital Bazaar in partnership with the UnionBank of the Philippines.
Moreover, InLife Sheroes launched #InAko, a campaign that challenges Filipino women to take the next step towards becoming a Shero by learning from their financial mistakes and using these to take charge of their lives towards financial empowerment.
With InLife Sheroes reaching out to more than seven million Filipinos and surpassing its original goal, it now looks at fulfilling its vision of being the preferred insurance partner of Filipinas by providing solutions to women’s insurance needs.
In the Sheroes Landmark Study on Women, it found that six in 10 Filipinas are entrusted with their household’s budget. However, only 21 percent are able to include savings in their budget and of those who save, they are able to allocate three percent of their budget to savings.
More alarming is that while life insurance awareness is 30 percent, ownership is at a very low four percent.
InLife Sheroes continues to fill the gap by selling more life insurance policies to women, Gonzales said.
In 2021, more than 73,000 policies were sold to women, collectively generated by both InLife and Insular Health Care, a health maintenance organization subsidiary. The group earned P3.5 billion of first year premiums (FYP).
“This translates to a growth of 47 percent in policy count and 91 percent in FYP over 2020 figures. Of InLife’s total policies, 61 percent were sold to women. This is significant because for us, it means we are reaching out to more women, and in turn, it means more women are being empowered and, on the road to being financially-independent,” Gonzales said.
As InLife Sheroes enters its 4th year, it looks at forging more partnerships with organizations that promote women empowerment, promoting gender equality and inclusivity through more intensive financial education sessions using its She Starts Module, and financial independence to more women through life insurance.