For a long time, insurance coverage was a privilege enjoyed almost exclusively by well-to-do Filipinos. However, thanks to Jean Henri Lhuillier, the man behind the success of microfinance leader Cebuana Lhuillier, he set his sights on making insurance more inclusive and accessible to the general population. In 2020, Cebuana Lhuillier established a future-ready insurance brokerage firm named Cebuana Lhuillier Insurance Brokers, Inc. (CLIB).
CLIB focused on bringing the benefits of insurance coverage to marginalized Filipinos, as well as MSMEs. CLIB presently works with 40+ reputable insurers and providers to develop tailor-made insurance products for the C and D market and foster alliances with other major companies to streamline product distribution. CLIB uses what it calls a “TechBrick” setup. This strategic approach is aimed at increasing product range and improving services by seamlessly and rapidly integrating its proprietary technology platform (Tech) with a robust brick-and-mortar footprint (Brick) to create an affordable and extensive insurance product portfolio that can be easily accessed and purchased either through digital platforms or by visiting any of Cebuana Lhuillier’s close to 3,500 branches or 6,500 partner outlets nationwide.
CLIB’s goal to revolutionize the Philippine insurance industry has already borne fruit. In 2023 alone, CLIB provided insurance coverage to over 4 million unique customers. CLIB has, in fact, grown to be one of the largest retail insurance brokers in the country by providing insurance to millions of Filipino families.
However, the work is far from over. CLIB General Manager and Group Head Anthony M. Bernabe says the most significant challenge they have—and will continue to have—is evolving customer needs. He said, “Customers have become more price-sensitive and now demand for more affordable products. To add, relevant and simple-to-understand products and seamless experience from a trusted company have become the minimum customer expectations. While digital is being pushed by the industry, most customers still prefer physical connections when purchasing insurance.”
Bernabe said they hope to overcome this by catering to the different and evolving needs of various customer segments. He explains, “Continuous innovation and simplification of insurance products is key to meet these changing customer needs, enhance affordability, and address emerging risks. We needed to be dynamic and responsive to market demands.”
In heeding what the market wants, CLIB is now focusing on providing health insurance to all Filipino families, which has become top of mind, especially after the pandemic. He explains, “Filipinos have been more mindful of their health and health protection. Unfortunately, most health products are either unaffordable to them or have very limited coverage. CLIB aims to bridge the gap by providing comprehensive health insurance for all.”
Moreover, CLIB is developing products that cater to the protection needs of indigenous people and workers with occupations that have long been excluded by most insurance companies.
To those who remain wary of availing of insurance, especially the C, D, and E markets who opt to hold on to their hard-earned money, Bernabe had this message to share, “The cost of not having insurance is most significant and unquantifiable. How can one quantify the value of losing a home? How can one quantify a family that cannot cope with the loss of their breadwinner? How can one quantify the cost of children having to stop schooling because one of their family members got sick?”
In hopes of enticing the general public to get insurance, Bernabe says CLIB offers innovative, affordable, widely available, simple-to-understand, and relevant products. Moreover, CLIB is committed to assisting clients in filing their claims with insurers so that valid claims are fulfilled as soon as possible.
CLIB is dedicated to realizing a vision of insurance empowerment for all Filipinos. Under the leadership of Jean Henri Lhuillier and Anthony Bernabe, CLIB hopes to make a greater impact in the local insurance industry as it continues its innovative efforts in driving financial inclusion and providing insurance for every Filipino family.