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Malayan eyes more golfer's insurance sales from Lazada

Business

Malayan eyes more golfer's insurance sales from Lazada

By Ben Arnold de Vera

Malayan Insurance Co. Inc. is eyeing a boost to sales of its new golfer's insurance product through availability on the popular online shopping platform Lazada.

Anthony Louis Guanzon, Malayan Insurance's chief marketing officer, told reporters last Thursday, Jan. 16, that the presence of their golfer's insurance on Lazada sets it apart from the fewer than five similar products in the market.

Unlike other non-life firms also providing golf-related products, Malayan Insurance is the lone player selling golfer's insurance through digital channels, Guanzon said.

While competitors' golf insurance can only be purchased directly from agents, Malayan's golfer's insurance was the first and only one made available on Lazada since November 2024, he noted.

Guanzon disclosed that initial sales via agency had been "reasonableâ€”it's not as much as we had hoped."

"But now that we're live on Lazada, we're seeing a surge," he added.

He said Malayan Insurance is aiming to be No. 1 in this product segment.

The Yuchengco Group of Companies' (YGC) non-life insurance arm launched golfer's insurance in July 2024, covering golf equipment as well as golfers' accidents and any damage to property caused by the sport.

Malayan's golfer's insurance also provides a cash prize to golfers who make a hole-in-one.

Costing less than P1,000 for annual coverage, Guanzon said their golfer's insurance is affordable, accessible, and relevant amid a surge in golf enthusiasts in the country post-pandemic.

Besides agency and Lazada sales, Guanzon disclosed that this product would also be made available on Malayan Insurance's e-commerce website as well as through the mobile e-wallet GCash soon.

Malayan Insurance is also planning to launch a comprehensive online shopping insurance product within the first quarter of this year, Guanzon added.

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