MANILA – Sun Life Financial Philippines said Friday it was tapping digital channels, including selling its products in online marketplace Lazada, to grow its client base to 5 million by 2020.
The firm, where millennials account for 70 percent of its clientele, also accepts payments via electronic wallet such as Coins.ph, said newly appointed CEO and country head Benedict Sison.
"In this day and age we have to be agile, you can pilot test, fail fast and move on," Sison said in an exclusive interview with ANC's The Boss.
"We recently partnered with Lazada, for example. That’s one way of teaching many more millennials through the online platform," he said. "It’s a start. Eventually they’ll upgrade to life insurance, to our investment products."
Millennials are interested in starting their own businesses and one way to achieve that is to earn through investment, he said.
"You have to make it easy for them to invest. You have to make it easy for them to be insured," he said.
Sunlife offers products for as low as P20 a year for P20,000 personal accident insurance, and investment products for as low as P100.