Singlife Philippines is ramping up efforts to expand insurance access in the country, banking on digital platforms and partnerships as industry penetration remains limited.
The company said it is targeting underserved Filipinos through integrations with widely used financial apps such as GCash, Maya, and AUB’s HelloMoney and Hello Pag-IBIG, amid an insurance penetration rate of just 1.79% nationwide.
The broader insurance market is expected to grow, with total premiums projected to reach P500 billion by 2025 and expand by around 14%, highlighting both opportunity and unmet demand.
Singlife reported a 23% increase in its customer base over the past year, with policy purchases through its mobile app nearly tripling, reflecting a shift toward digital-first insurance adoption.
At the center of its push is the company’s “Insurance for All” campaign, which includes a free accident insurance offer providing up to P100,000 in coverage. The initiative has reached more than 440,000 Filipinos, many of whom are first-time policyholders.
Looking ahead, the firm plans to introduce three new products in the next quarter: Singlife Term Protect, a basic term life policy; Singlife Accident Support, which offers short-term accident coverage; and a revived Dengue Protection product aimed at covering medical expenses related to dengue.
“Insurance for All” remains the core of the company’s strategy as it expands its product lineup and distribution channels.
Singlife is also increasing its presence in community events such as the Philippine Marathon Majors to promote health awareness and financial protection, alongside introducing “Sigla,” a financial companion designed to encourage better financial habits.
The company said it continues to simplify its offerings through fixed-term coverage options and app-based tools that allow users to explore products without pressure.
Following its acquisition by Japan-based Sumitomo in late 2024, Singlife has strengthened its financial position as it targets younger, digitally engaged Filipinos.
The firm is also emphasizing cybersecurity measures and customer education as part of its broader digital strategy, while exploring more personalized services for higher-value clients.
