The idea of availing of life insurance is a concept that is alien to the younger generation. Most of them, if not all, have the notion that they don’t need it… yet. The same goes for the career of a financial advisor, one has to tackle a variety of challenges to better appreciate the merits of the said career.

With around 40,000 life insurance agents in the Philippines, Pru Life UK is considered one of the largest agency forces. And it’s not just about being the best in terms of recruitment, it’s also about how the company takes care of their workforce — by providing them with the necessary tools and training to succeed. 

Patrick Valencia, a 33-year-old multi-awarded Pru Life UK financial advisor, was no exception. He was introduced to insurance as a college student by his mom’s best friend in 2011 and later on, in 2013, recruited by his former college classmate.

By then, he was already working and was on the lookout for extra sources of income to help his parents pay for monthly expenses such as house rent. “It’s the typical story of wanting to give back to my parents,” he tells Manila Bulletin Lifestyle. 

So when it was explained how insurance works and how, in some way, it can help his family in times of “crisis,” he was all ears. As a young professional, he wanted to make more on the side. “Marami na akong racket nasubukan, but they didn’t work out. Nagustuhan ko ang compensation and incentives package ng insurance, so I decided to give it a try.”

Trying part-time work

Among the challenges he faced after getting his license was the hesitation of many people about the industry, as several pre-need companies closed a few years earlier. Adding to this was Typhoon Yolanda, which caused some to think that insurance companies might shut down due to the possible massive insurance claims. 

To overcome this challenge, he made extra effort to research more about Pru Life UK and the industry. This led him to discover Prudence Foundation — the community investment arm of Prudential plc., Pru Life UK’s parent company.

He was amazed that the Prudential group also helps communities by donating to those in need. “This gave me the confidence because Pru Life UK does more than just helping clients.”

In his first month, he was able to close six insurance policies, even helping a client get his Pru Life UK claim. “Totoo pala, nakakabayad ang insurance,” he thought then. This gave him confidence to continue doing what he’s been doing. He became a top rookie and recruiter in his first three months as a part-timer.

Working as a part-time Pru Life UK agent for 14 months, he took the plunge and decided to go full time in January 2015. He was a regular employee earning P25,000 monthly, but he was making more as a part-time agent earning triple on the side. “I told myself, I can do this (as an insurance agent) and I enjoy doing this. With my regular work, I did a lot of overtime work. And I don’t get to spend time with my parents.” His goal was to buy a house for his family and help put his brother through school at that time. 

Going full-time

But going full-time was not without its challenges. He was young, and he had to adjust to commuting everyday from Cavite to Makati. “I had a hard time waking up early to beat the traffic. I didn’t get to train, which is a requirement for three months,” he reminisces. “I had the wrong mindset, a lot of excuses, and my performance became stagnant.”

The number of clients he got was also not substantial, which made him doubt his decision to go full-time. But he pushed himself not to give up. “I understood that I needed to work harder.”

One of the challenges he faced then was talking to older people. He was young then and felt that he knew less compared to his clients, in terms of seniority and career. “What can I offer them?” he says. “I attended a lot of training to keep up. I learned to give special and added values such as how to keep and protect their assets. Now, I like talking to older people, I learned from them.”

He also became very committed. His clientele increased when he decided to go full-time. Clients trust him more because of his commitment to the company and to serve his clients. “I think one of the reasons why I am still here is how I take care of my clients,” he shares. Because Patrick is focused on one role, he gets to spend more time with his family and his clients with the mission to help. 

Rising through the ranks

Patrick was content with where he was at, but his colleagues wanted more. He never thought of growing his career as a leader. But in 2015, he gave in. “I had teammates who wanted to get promoted. In order for that to happen, I had to step up. We had to step up as a team. So our mantra became, ‘you go up, we go up.’”

In 2016, he became unit manager. In 2019, he was promoted to branch manager, then area manager in 2022. And, finally, district manager in 2023. “There was continuous growth every year. The team is growing with us helping more clients. Lumalaki ang agency with people who are like me before—to earn, to help their families, and to help other people.”

He now has 2,700 members under his team, most are 30 years old or younger. With such a young team, Patrick makes sure that the culture is imbibed in each and every one, and that is to live a life of honesty, integrity, and the passion to help more as an agent. Patrick also reiterates that he is very hands on, sharing stories so that his team can learn from his mistakes and be inspired to do what they do. 

Over the span of 10 years, Patrick is still very much in touch with over 500 of his clientele. “I make sure, even if I have a big team, that I meet with my clients and personally provide service to them,” Patrick shares. Out of those 500, 36 were able to claim — from dog bites to Covid-related ones. “Bayad lahat, and that is something I share with the team. It’s really the advocacy of helping people.”

Building genuine relationships

He also regularly reminds his team to always set the proper expectations, and to establish a sincere relationship with clients which means really spending time with them. Because if there are some points that weren’t clear to them, then this might lead to failed claims. “Sira ka na,” he reiterates.

When it comes to recruiting agents, he is very transparent and shares with them the culture of their team and what it entails to succeed. This involves a lot of hard work, but the rewards are worth it when you know that the client you helped was able to file claims. “Commission-based is more challenging, but you are going to earn more than what a monthly salary can give. But this also means that you believe in the product and you are here to stay as an insurance agent.”

Recruiting agents is another difficult task. And with a big chunk of his agents coming from the gen Z group, Patrick understood what they want in life. “They want to earn faster and help people at the same time. Imagine how you’re going to help people and sell policies. Just one client and you can help the whole family,” he explains. This mindset has enticed many to join his team and Pru Life UK.

“I also make sure to show them the rewards of working in Pru Life UK, what we enjoy now, which is more time with family, and the incentives that are given. Of course, if they are inspired, they will do more and they will help a lot of people,” he continues. “They’re going to pass down the culture.” To date, he has six branch managers and 70 unit managers. 

Leading the advocacy

For Patrick, it is important that his team understands why they do what they do. If not, then why are they here? They’ll eventually leave. “Kakainin mo sinabi mo sa client mo na kasama mo sila forever para mag service at alagaan mga insurance policy nila. Nakakasira sa industry,” he says. 

When it comes to training leaders, everyone started at the same point. “We all didn’t have management backgrounds. We started rank and file,” he pointed out. It was then that they realized, in between friendly arguments, that they should support their chosen leader. 

“For you to be a good leader, you have to develop leaders who are even better than you,” Patrick selflessly points out. “If I see someone who has potential, I let them try to lead an activity. We give chances to potential leaders to showcase and develop.” As long as they are hardworking, dedicated, driven, caring, and imbibe a positive energy, then that person can be a leader and contribute to the success of the team. 

Patrick credits his team’s growth to the importance of serving his clients, servicing his teammates, and leaders. “It’s the commitment to deliver what we promised. Whatever happens to our clients, we make sure they know that we are here for them.” 

It is this positive and caring culture of Pru Life UK agents that make their company the best in what they do — and that is to help Filipinos get the most out of life, ensuring their financial security.

*To know more about Pru Life UK please visit www.prulifeuk.com.ph. Follow them on Facebook and Instagram.