Cebuana Lhuillier champions financial inclusion for Filipino masses with wider microinsurance offering

 

Financial institutions like banks have served the needs of middle and high-income classes – the moneyed classes, but often leave the low-income ones, especially those in remote areas, underserved, if not totally unserved.
 
Most of these low-income families also do not have access to government’s social security agencies and have no healthcards to help them out during emergencies. Thus, when misfortune hits them hard, these poor households find it hard to cope with and manage the risks they face and get mired in debt from relatives and friends, left with no means to rebuild their damaged properties, or face death unable to afford expensive medical treatments.

Cebuana Lhuillier saw this need to provide the Filipino masses with  quality  and  affordable insurance  protection when 15  years ago, in 1999, it established its microinsurance arm, the Cebuana Lhuillier Insurance Solutions (CLIS) to further fulfill its chosen mandate of bringing financial inclusion to the Filipino masses through financial products and services backed up by the country’s major and most reputable insurers.  

CLIS General Manager Jonathan Batangan said, “We are committed to our promise to provide relevant and  responsive micro-insurance products and services for Filipinos. We want to assure them peace of mind knowing that they will be assisted financially in times of emergencies.”

The company primarily serves the needs of the low income sector  which  is  the most vulnerable  to risks and hazards like death and injury, sudden illness, and loss of lives and properties  from natural and man-made calamities, to name a few.

With fifteen years of service in the micro-insurance industry, CLIS has introduced  a variety of unique insurance products, programs, and services that aim to secure every facet of their lives at the most affordable  premiums.

Cebuana Lhuillier has recently offered  not only traditional insurance products but also  products customized to the needs of specific groups like TODACare for transport operators and drivers, TanodCare for  community volunteers, StudentCare for students, BuildersCare for construction workers, EmployeeCare for employees, SecurityCare for security guards, among others.
 
To date, CLIS’s micro-insurance products  have  covered more than 15 million Filipinos. Last year, its premiere microinsurance product, the Alagang Cebuana Plus  (ACP),  sold 14 million certificates covering more than 5 million Filipinos making it one of the most successful microinsurance products in the country today.

Expanding micro-insurance product portfolio and reaching out

After introducing micro-insurance products and services made more accessible through the country’s largest pawnshop chain, CLIS expands its affordable insurance offering with a wider variety of products for the poor and the marginalized  and bringing these products to where the target customers are.

“We want to be known as the company that   pioneered in   “pawnassurance”–  an initiative to promote micro-insurance on a  nationwide scale , using our pawnshop branches as distribution channels.  We have also reached out to  various  communities by visiting barangays and other far-flung  areas to sell these products with our “Microinsurance-on- Wheels” and “Barangay Cebuana”  initiatives. It is our way of championing the financial inclusion of the Filipino masses, who have long held that insurance can only be afforded by the privileged,” Batangan said.

He echoes that the low insurance penetration rate in the country  is attributable to Filipinos’ inability to squeeze insurance premiums into their monthly budget, aside from their  lack of insurance awareness.

“This inspires us to leverage micro-insurance as our way of empowering more marginalized Filipinos toward financial security. Micro-insurance products help Filipinos to be protected from the unexpected through insurance products that are very light on the pocket. This is in line with Cebuana Lhuillier’s mission and advocacy of providing financial protection opportunities for all,” he said.

CLIS’s retail micro-insurance offerings will soon include Alagang Cebuana Plus Gold  with micro-life insurance cover ,  another variant of its flagship product, the Alagang Cebuana Plus (ACP) . ACP is sold in over 1,700 Cebuana Lhuillier pawnshop branches nationwide, giving as much as Php20,000 accidental death or dismemberment coverage and Php5,000 fire assistance for only Php25 with coverage valid for four months.    

 

View event photos here.
 

CORPORATE AGENT PARTNERS

  • ACTION.ABLE, INC.
  • ALL ACCESS GATEWAY INC.
  • ANTRECCO (AGUSAN DEL NORTE TEACHERS, RETIREES, EMPLOYEES & COMMUNITY COOPERATIVE)
  • ACM VIP
  • ALL CASH
  • AGRILIFE/ AGRIVET
  • ASENSO PINOY STORE, INC. (EASY DAY SHOP)
  • AVICOM ENTERPRISES
  • AYALA ALABANG VILLAGE ASSOCIATION
  • BAUG CARP MULTI PURPOSE COOPERATIVE
  • BAGUIO BENGUET COOP
  • CARD BANK INC
  • CARD MRI RIZAL BANK INC
  • CARD SME BANK
  • CARITAS BANCO NG MASA, INC.
  • CEBU PEOPLE’S MULTIPURPOSE COOPERATIVE
  • CIS BAYAD CENTER, INC
  • COOPERATIVE BANK OF BOHOL, INC
  • COUNTRY BUILDERS BANK
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • AEON CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (VIA ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (VIA ECPAY)
  • ALLIANZ PNB LIFE INSURANCE INC.
  • ALPHA FUND SAVINGS & CREDIT COOPERATIVE (VIA ECPAY)
  • AMADEO WATER DISTRICT (VIA ECPAY)
  • AMYA POLYTECHNIC COLLEGE, INC. AND FINANCING CORPORATION (LENDPINOY)
  • ANGAT WATER DISTRICT (VIA ECPAY)
  • ANGELES ELECTRIC COMPANY ANGELICUM SCHOOL , INC. ILOILO CITY (VIA ECPAY)
  • ANJELMAN REAL ESTATE LEASING
  • ANTIQUE ELECTRIC COOP, INC ANTRECCO (BILLS PAYMENT)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (via ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (via ECPAY)
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

List of Accepted Government/ Valid IDs

  • Passport
  • Driver’s License
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Voter’s ID
  • Philippine Identification (PhilID) card
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) ID
  • Senior Citizen’s ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman’s Book
  • Alien Certification of Registration (ACR)
  • Barangay Certificate or ID (with picture and signature)
  • Birth Certificate (applicable to minors only)
  • Firearm License
  • Immigrant Certificate of Registration
  • Marriage License
  • National Council for the Welfare of Disabled Persons
  • New TIN ID
  • OWWA ID
  • Student ID
  • Alien Certification of Registration (ACR) / Immigrant Certificate of Registration
  • Government Office or Government Owned and Controlled Corporations (GOCC) ID (e.g. AFP ID, HDMF (Pag-ibig Fund) ID, etc.
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • Integrated Bar of the Philippines ID (IBP)
  • Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP (Bangko Sentral ng Pilipinas), SEC (Securities and Exchange Commission) or IC (Insurance Commission)

IDs Accepted

As required by Bangko Sentral ng Pilipinas (BSP), clients who engage in a financial transaction with covered institutions for the first time shall be required to present the original and submit a clear copy of at least ONE (1) valid photo-bearing identification document issued by an official authority. For our clients’ convenience, Cebuana no longer requires submission of the photocopied ID. IDs are captured using a webcam in all branches. Clients are also required to submit an updated photo and other relevant information whenever the need for it arises.

Forms of identification accepted are the following;

Pawn Accepted IDs
1. Passport
2. Driver’s License
3. Professional Regulation Commission (PRC) ID
4. National Bureau of Investigation (NBI) Clearance
5. Police Clearance
6. Postal ID
7. Voter’s ID
8. Philippine Identification (PhilID) card
9. Social Security System (SSS) Card / Unified Multi-Purpose ID (UMID)
10. Barangay Certification
11. Government Service Insurance System (GSIS) e-Card
12. Senior Citizen Card
13. Overseas Workers Welfare Administration (OWWA) ID
14. OFW ID
15. Seaman’s Book
16. Alien Certification of Registration/Immigrant Certificate of Registration (for foreigners)
17. Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID)
18. Home Development Mutual Fund (HDMF ID)
19. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
20. Department of Social Welfare and Development (DSWD) Certification
21. Integrated Bar of the Philippines (IBP) ID
22. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission or Insurance Commission
23. ID issued by the National Council on Disability Affairs (NCDA)