Pioneer’s Microinsurance Business Grows 300% from 2010 to 2011

Pioneer has reported growth in their microinsurance program from 2010 to 2011. From 160,000 enrollees in these programs in 2010, the number grew by 300% and is close to half a million at the end of 2011.Pioneer Life President and CEO Lorenzo Chan attributed this progress first and foremost to the company’s willingness to be a pioneer. He cited the group’s ability to foresee and respond to market demands. This has been formed in part by its expertise in life and non-life insurance which allows customization of coverage packages.

Micro Agents’ Day Off

Pioneer recently treated top selling agents of its microinsurance product sold through the CARD network to a fun “day off”. CARD is the Center for Agriculture and Rural Development, a microfinance institution that reaches out to less fortunate communities. Offering microinsurance through its mostly-female members, fondly called “nanays”, CARD is helping ensure that more and more Filipinos are covered by risks such as death, accident, flood and fire.
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