The enhanced community quarantine, declared to combat the coronavirus disease 2019 pandemic, has initially limited the sales of insurance products but companies have boosted their capabilities and have seen an increase in demand.
Pru Life UK president and chief executive officer Antonio de Rosas said social distancing is now the “new normal” and the situation was put upfront because of the global pandemic.
De Rosas said the situation has affected companies but what is notable is how firms immediately adapted to it.
In the case of Pru Life UK, he said about 90 percent of their employees now have the capability to work from home to meet their customers’ needs.
De Rosas noted that because of the present health situation, the company is providing a one-time, 45-day insurance for Covid-19-related eventualities through the mobile application, Pulse, which is not exclusive to Pru Life UK clients.
Since the app’s launch in February, it has been downloaded about 500,000 times, he said.
De Rosas said the free Covid-19 coverage and personal accident insurance can be availed of by people between 18 years and 64 years who would download the app between April 13 and May 13 and tap the link for the free insurance product.
The coverage would start from the date of registration.
During the same briefing, Pru Life UK senior vice president and chief marketing officer Allan Tumbaga said the firm does not have figures on how many of those who have downloaded the app are Pru Life UK policy holders, but about 117,000 of those who have downloaded it have availed of the free insurance coverage.
Tumbaga said the ECQ, which was declared over mainland Luzon on March 16 and has been extended twice until May 15, challenged Pru Life UK officials to equip their personnel, as well as agents’ ability to conduct tasks online.
He said he is open to the possibility of lower sales because of the ECQ but pointed out that they have also observed increased inquiries on their products and the urgency to get insurance coverage through digital platforms.
“After this (ECQ), the reception will be better,” he said.
Meanwhile, Tumbaga said he does not have the official figures on how many of their policyholders have claimed for insurance because of Covid-19 but said there was a claim made for the free Covid-19 cover and personal accident.