Cebuana Lhuillier offers new micro-insurance product
CEBUANA Lhuillier Pawnshop has introduced a new product aimed at protecting policy holders from disasters and other effects of climate change.
ACP Gold, a variant of its Alagang Cebuana Plus (ACP) plan, was launched in a road show conducted by the company recently.
In a press statement, company president and chief executive officer Jean Henri Lhuillier said ACP Gold can be considered a climate change adaptation or disaster risk reduction tool.
“The Philippines is frequently visited by typhoons and is not spared from the ill effects of climate change, and while Filipinos are a resilient people, many families and communities need all the help they can to lessen the impact of these disasters,” he said in the statement.
ACP Gold offers micro-life coverage on top of insuring accidental death, dismemberment and disability, fire cash assistance and unprovoked murder and assault.
The company launched the new product after holding a forum held last January aimed at promoting micro-insurance awareness and helping Filipinos prepare for calamities.
Jonathan Batangan, general manager of Cebuana Lhuillier Insurance Solutions (CLIS), introduced during the forum the various programs initiated by CLIS to promote inclusive and responsive micro-insurance.
In 2015 alone, Cebuana Lhuillier said it insured six million Filipinos under ACP. More are expected to benefit from ACP Gold.
“I’m proud to say that we at Cebuana Lhuillier are putting in all the work that we can to foster quality insurance protection at affordable premiums, especially to the most vulnerable and marginalized sectors,” Batangan said in the same statement.
“The launch of the ACP Gold marks another milestone in our disaster resiliency initiatives and this is just one of the many meaningful projects in store for 2016,” he added.
The pawnshop will also launch the “National Pilipino Protektado Day” in June together with Pioneer Insurance. CLIS will also spearhead the creation of the Micro-insurance Agents Association of the Philippines, Inc. (MIAAPI) and launch online insurance platform ProtectNow.ph, and Cebuana Alerto, an Android app to help people prepare for disasters.
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