Insurance
From The Report: Philippines 2018
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The prevailing narrative of the Philippines’ energy sector in recent years has centred around energy security concerns and the challenge of meeting growing demand. Efforts to realign the energy sector were ramped up during 2017 with the launch of reforms targeting investment and the promotion of efficiency. Modifications to the Electric Power Industry Reform Act of 2001 have come at a critical juncture for the Philippines, as robust economic growth has outpaced the sector’s capacity to meet surging demand. Due to the imminent exhaustion of the country’s gas fields, dependence on imports of hydrocarbons has grown, worsening the current account deficit. In addition to falling reserves, the cost of electricity is also a major concern. This chapter contains an interview with Alfonso Cusi, Secretary of Energy.

Articles from this Chapter

Overview

Steady progress: Financial technology and innovative products widen distribution channels as stricter regulations push for market consolidation
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Buoyed by recent rapid macroeconomic growth, the Philippines’ insurance industry has seen marked improvements in assets, density and penetration, with the life segment as its main engine. Foreign participation in the sector remains strong and companies are profitable, despite high competition. Ongoing reforms are expected to encourage consolidation and improve consumer protection in 2018, with stiffer capitalisation requirements likely to push smaller players out of the market or into…

Interview

Clear expectations: Rizalina Mantaring, CEO and Country Head, Sun Life, on making financial safety accessible to all
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Interview:Rizalina Mantaring How can changing products and distributions channels overcome penetration barriers? RIZALINA MANTARING: Although the agency model is the country’s dominant channel, bancassurance has the advantage of being able to tap the bank’s client base as well as being offered as part of the bank’s financial portfolio. Overcoming penetration barriers includes the introduction of smaller, simpler products. These can be as small as personal accident insurance with premium…