Allianz Kaagapay Launched to Promote Inclusivity in Insurance

 

Founded in 2016, Reach52 provides screening, health worker training, affordable medicines, insurance, diagnostics, and consumer health products in rural regions that existing services don’t reach. This is achieved through establishing health systems and services, powered by mobile apps and tech platforms, a community-based workforce, and partnerships with the public and private sector.

 

 



Allianz PNB Life has partnered with award-winning social enterprise Reach52 to promote the importance of inclusivity in insurance in the country, especially in the underserved rural communities, through a new corporate social responsibility project, Allianz Kaagapay.

“Most of those who do not have insurance are from the most vulnerable areas of the coun-try. Through our partnership with Reach52, we aim to provide these communities the pro-tection they need during these challenging times. Allianz continue to provide clients with insurance products that cater to the full needs of our customers across the various stages of their lives. In this crucial and uncertain times, we want our customers to have peace of mind knowing that Allianz cares for them and we are here to keep our promise that they can rely on us when things go wrong.” ~Alexander Grenz, Allianz PNB Life President and CEO

Alexander Grenz, President and CEO, Allianz PNB Life

 

Through Allianz Kaagapay, Reach52 will be providing PhP25,000 worth of life insurance that includes COVID-19 coverage to its members for every purchase an Allianz Well! insurance product from August 1 to December 20, 2020. Members from Pototan and Cuartero, Iloilo will be the first beneficiaries of the insurance package.

Edward Booty, Founder and CEO, reach52





“Our members are essential in our goal of extending primary care to the 52% of the world’s population who still lack access to essential health services. They are our access managers, the ones who help us fill the gap in the healthcare system in remote rural communi-ties. We thank Allianz PNB Life for providing this support to our members.” ~Edward Booty, Founder and CEO of Reach52

 

Allianz Well! is Allianz PNB Life’s health insurance product that has an annual plan limit of up to PhP100 million. It covers COVID19 hospitalization and ICU expenses up to the plan limit to support PhilHealth and HMO coverage. Its coverage also includes access to expert medical advice, 24/7 teleconsultation, health screening, dental services, physical activity programs, and nutrition counseling.

 

 

This is not the first time that Allianz PNB Life has launched a project aimed at inclusivity. Prior to Allianz Kaagapay, it launched Project Sanlahi, which aimed to empower indigenous youths in Pampanga through the sport of obstacle course racing and financial literacy.

About Reach52

Reach52 is an award-winning social enterprise, delivering healthcare for 52% of the world who can’t access health services. They deliver screening, health worker training, and affordable medicines, insurance, diagnostics, and consumer health products in rural regions where existing services don’t reach. This is achieved through establishing health systems and services in these underserved areas, powered by their mobile apps and tech platforms, community-based workforce, and partnerships with the public and private sector.

Currently, reach52 operates its on-the-ground services for over 500 communities in the Philippines, Cambodia, and India, with further countries in the pipeline, and have partnerships with over 20 leading global and regional organizations.

About Allianz in Asia

Asia is one of the core growth regions for Allianz, characterized by a rich diversity of cultures, languages, and customs. Allianz has been present in the region since 1910 when it first provided fire and marine insurance in the coastal cities of China. Today, Allianz is active in 14 markets in the region, offering its core businesses of property and casualty insurance, life, protection, and health solutions, as well as asset management. With its more than 32,000 staff, Allianz serves the needs of over 18 million customers in the region across multiple distribution channels and digital platforms.

 

About Allianz

The Allianz Group is one of the world's leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life, and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage more than 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the group

These assessments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects, statements of future expectations, and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the EUR/USD  exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration is-sues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.

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Allianz SE is committed to protecting your personal data. Find out more in our Privacy Statement.

Allianz PNB Life Partners with reach52 to Address Protection Gap

 

Allianz PNB Life Partners with reach52 to Address Protection Gap in PH

 

According to the Insurance Commission (IC),  insurance penetration remains low in the Philippines at only 1.69 percent as of September 2019. 

 

Allianz PNB Life is seeking to help address the protection gap in the Philippines by partnering with reach52, an award-winning social enterprise that has made healthcare more accessible to rural communities.

 

Through this partnership, both Allianz and reach52 will work together to help close the protection gap and bring physical and financial health to more Filipinos.





Allianz PNB Life Partners with reach52 to Address Protection Gap in PH





“The coronavirus disease 2019 (COVID-19) pandemic has made all of us vulnerable to critical illness and financial instability. Through our partnership with reach52, we are hop-ing to arm Filipinos with the knowledge and protection to better prepare for unexpected crises. The insurance industry has been responsive in providing the benefits under these claims. However, reported claims are still low considering the number of identified COVID-19 positive cases in the country. If this pandemic has taught us anything, it's that securing one's health has to be one of the most important things to do for us and for our families. This pandemic has shown us the importance of having good physical and financial health. With the work we are doing with reach52, we are hoping to help Filipinos achieve both.” ~Alexander Grenz, Allianz PNB Life President, and CEO

To help address the protection gap in the country, Allianz PNB Life is partnering with  reach52 – an award-winning social enterprise that has made healthcare more accessible to rural communities in the Philippines, Cambodia, and India.

In June, the Insurance Commission (IC) released the results of an industry survey designed to assess the financial impact of the COVID-19 pandemic and determine how the insurance industry responded to claims. The classification of the claims included medical benefits, death benefits, or other benefits, such as travel inconvenience, travel cancellations and delays, and cash assistance, among others.

 

The IC survey revealed that the total Covid-19 related claims paid by the industry amounted to P326.95 million, with medical benefits comprising the bulk of the amount at P258.8 million.

 

According to the IC, insurance penetration remains low in the country at only 1.69 percent as of September 2019. Currently, reach52 operates its on-the-ground services for over 500 communities in the Philippines, Cambodia, and India, with further countries in the pipeline, and have partnerships with over 20 leading global and regional organizations.

“Fifty-two percent of the world’s population still don’t have access to healthcare, and reach52 has been constantly working in finding solutions to help address this. In the Phil-ippines, we are glad to have found a partner in Allianz. With our companies’ combined expertise, we are confident we can achieve a lot to help close the protection gap in the country.” ~Edward Booty, reach52 Founder and CEO

They deliver screening, health worker training, and affordable medicines, insurance, diagnostics, and consumer health products in rural regions that existing services don’t reach. This is achieved through establishing health systems and services in these under-served areas, powered by their mobile apps and tech platforms, community-based workforce, and partnerships with the public and private sector.

 

Allianz and reach52 will be holding an online media press conference, where both companies are expected to announce the beginning of this major undertaking. Early on, Allianz is already looking into expanding its portfolio to include more microinsurance products.

 

About Allianz in Asia

Asia is one of the core growth regions for Allianz, characterized by a rich diversity of cultures, languages, and customs. Allianz has been present in the region since 1910 when it first provided fire and marine insurance in the coastal cities of China. Today, Allianz is active in 14 markets in the region, offering its core businesses of property and casualty insurance, life, protection, and health solutions, as well as asset management. With its more than 32,000 staff, Allianz serves the needs of over 18 million customers in the region across multiple distribution channels and digital platforms.

About Allianz

The Allianz Group is one of the world's leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life, and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage more than 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 80 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the group. These assessments are, as always, subject to the disclaimer provided below.

 

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

 

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive the situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the EUR/USD  exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national, and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

 

No duty to update

The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.

 

Privacy Note

Allianz SE is committed to protecting your personal data. Find out more in our Privacy Statement.