Allianz PNB Life starts off 2023 strongly, as it was recently named Life Insurer of the Year by one of Asia’s most prestigious award-giving bodies, the InsuranceAsia News (IAN) Awards for Excellence 2022.
Allianz PNB Life has shown substantial growth in various aspects in 2022; the organization was ranked Top 3 in terms of Gross Written Premium and New Business Annualized Premium Equivalent in the Philippine Insurance Commission’s (IC) latest industry performance report, which covers the second quarter of 2022. Allianz PNB Life also continues to be the leader in bancassurance in the country through the dedication of its financial advisors alongside sustained marketing efforts.
The company was also able to handle the pandemic strategically. It was one of the first insurance companies to have its digital sales process approved by the IC; selling products and servicing clients digitally allowed Allianz PNB Life to become the market leader in net promoter scores for digital customer experience in 2021.
In 2022, Allianz PNB Life’s recruitment of new agents, called Life Changers, increased by 64%. Through its more digitally savvy agents, the company saw a 153% year-on-year increase in sales.
“We are deeply humbled by these achievements,” said Grenz. “To be recognized for the work that we do fills all of us at Allianz PNB Life with so much pride. These recognitions serve as proof that everything we have done thus far has been greatly aligned with our purpose of securing the future of Filipinos.”
“We’re also very grateful to everyone who made this possible,” he added. “We wouldn’t have made it this far without all the people who trust in us as an insurance partner, whether customer or employee. We truly value their contributions to our success, it means a lot to us.”
Additionally, Allianz PNB Life’s commitment to sustainability and securing the future led to the launch of numerous community initiatives. The increased dependence on bikes during the pandemic led to the development of Ride Safe, Allianz PNB Life’s sustainable transport project. Ride Safe is one of the company’s most successful projects to date, expanding to include cycling infrastructure and livelihood opportunities through bike mechanic skills training.
Allianz PNB Life also supports sustainability through social inclusion and financial literacy. It developed its financial education program called Allianz Kaagapay, reaching over 500 people in underserved communities through its seminars.
These efforts served to elevate Allianz PNB Life’s reputation, contributing to a 90.2% year-on-year increase in GWP and 18% increase in NBAPE equivalent to P3.7 billion
“We certainly will keep working to maintain this level of excellence,” said Grenz. “This year, we want to zero in on and continue being a more people-centric organization. This means investing in our employees’ growth, enhancing our recruitment processes, and focusing on customer experience.”
“Whatever the future holds for us, one thing’s for sure - Allianz PNB Life will continue advocating for sustainability and securing the future. We are looking forward to an even more successful and fruitful year ahead,” concluded Grenz.