In a radically changed world, few companies have managed to pivot and adapt their activities to meet the needs of the public. Cocolife, the largest Philippine life insurance company and the first ISO-certified Philippine life insurance company, has a proven track record in this regard.
Cocolife has been recognized by the International Management Institute’s Global Business Review as a leader in Philippine insurance, honoring the company with the prestigious “Best Life Insurance Company Philippines” and “Best Insurance Customer Service Provider Philippines” awards for 2021. Noting the exceptional leadership of Cocolife by Atty. Martin A. Loon, the magazine published internationally, also awarded him the “Young CEO of the Year” award in the Philippines.
The awards build on Cocolife’s growing momentum as the country’s life insurance powerhouse, as they follow recent honors from International Business Magazine, which named the company the most most outstanding living in the Philippines for 2021 as well as the most outstanding health care company. Supplier in the Philippines for 2021.
With over four decades of expertise and history in the Philippines, Cocolife has built a growing network of branches nationwide, managed by highly trained agents, account executives and field managers. Cocolife consistently ranks among the top life insurance companies in the country, generating 3.97 billion pesos in premium income, 678.12 million pesos in annual premium equivalent from new business, 27.14 billion pesos in assets, 3.40 billion pesos in net worth, 550 million pesos in paid-up capital, 90.77 million pesos in net income and 21.39 billion pesos in invested assets in the second quarter of 2021.
The company‘s wide range of coverage, personalized plans and offers, along with ease of processing, smooth transactions and excellent overall customer experience have laid the foundation for its success.
Cocolife recently embarked on a massive effort to improve its customer experience journey through increased investment in digitalization. Armed with a technology roadmap, the company sought to develop its digital customer engagement platforms, increase the efficiency of its operations, promote information security, ensure business continuity and future-proofing the business against incumbents and disruptors. Through it all, Cocolife seeks to back its product line with a top-notch customer support team.
“Cocolife remains strong despite the challenges thanks to its secure financial position and a reliable, competent and service-oriented team. Our belief system, customer service, product quality and reliable delivery are our brand value. Cocolife is highly transparent and a guide for an individual or any business when it comes to a diverse range of financial products and services,” the company noted.
These efforts are rooted in the company maxim, “Believe in Filipinos”. Cocolife aims to enable and support the Filipino dream – to be free from financial burden and insufficiency. The company achieves this by improving the lives of Filipinos through its comprehensive range of insurance products and services, based on Filipino values and heritage.
“Cocolife is and always will be ready to help its compatriots. For more than four decades, Cocolife has continued to uphold its commitment as an insurance company that Filipinos can trust as a partner in achieving their dreams,” the company said.
A leader for a new era
Atti. Martin Loon is Cocolife’s youngest president and CEO, having been elected to the company’s board when he was just 32 years old. Nonetheless, his young age did not hamper his ability to lead, as under his leadership, Cocolife achieved its highest earnings in its 42-year history, two years in a row, despite the challenges posed by the pandemic. For the first time in the company’s history, it also received no audit results from its two ISO audits for the years 2020 and 2021.
In addition to the prestigious Global Business Review award, he was also previously named Circle of Excellence winner for the Young Leader of the Year category by the Asia CEO Awards for 2021.
“This achievement reminds us of the importance of our mission: to serve others more and find ways to be better. We hope to make COCOLIFE a world-class insurance company, a beacon of hope that Filipinos can be truly proud of,” Mr. Loon said.
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