Sun Life Financial, Inc. said yesterday that it signed a partnership with online shopping and selling website Lazada to make it easier for Filipinos to purchase insurance online.
In a statement, Sun Life said that the life insurance firm and Lazada’s partnership is “a first of its kind” in the industry, which will become available to the public beginning next month.
Sun Life said its new personal accident insurance product, Family Armor, will be available to Lazada members through its online shopping website by July this year.
Family Armor is the first product to be sold on Lazada.com.ph.
Lazada members can purchase and activate an insurance product completely online, eliminating the need for physical documents to be delivered and submitting the forms to a customer center, Sun Life said.
“We’re proud to be the first insurer to team up with Lazada in the Philippines to make it easier for Filipinos to access insurance through online shopping,” said Sun Life Chief Executive and Country Head Riza Mantaring.
“This is a great example of how we’re transforming our business through innovative digital solutions. Sun Life is committed to growing our business in the Philippines by offering our clients innovative choices and easy- to- access insurance through cutting edge digital partnerships like this one,” she added.
Lazada Philippines Chief Executive Officer Ray Alimurung also expressed his excitement over the partnership.
“Filipinos’ behavior is changing, with more people turning to online shopping to meet their needs. We’re excited to partner with Sun Life and be at the forefront of making insurance more accessible digitally in the Philippines,” Alimurung said.
The new collaboration is the latest move by Sun Life as it continues to transform its business by advancing the company’s digital strategy and exploring innovation-led collaborations.
Sun Life has recently launched two new products in partnership with telco providers in the Philippines and Indonesia and developed the highest rated insurer mobile app for clients in Canada.
These recent moves also support the company’s purpose of helping people achieve lifetime financial security and live healthier lives.