CLIB sets sight on insuring every Filipino family

For such a long time in the Philippines, insurance coverage was a privilege enjoyed almost exclusively by well-to-do Filipinos. Thanks to Jean Henri Lhuillier, the man behind the success of microfinance leader Cebuana Lhuillier, insurance has now become more inclusive and accessible to the general population. 

In 2020, Cebuana Lhuillier established a future-ready insurance brokerage firm named Cebuana Lhuillier Insurance Brokers, Inc. (CLIB). CLIB focused on bringing the benefits of insurance coverage to marginalized Filipinos, as well as MSMEs. 

CLIB presently works with over 40 reputable insurers and providers to develop insurance products that are tailor-made for the C and D market and fostered alliances with other major companies to streamline product distribution. 

The firm employs the “TECHBRICK” set-up, a strategic approach aimed at increasing product range and improving services by seamlessly and rapidly integrating its proprietary technology platform (TECH) with a robust brick-and-mortar footprint (BRICK). 

The TECHBRICK set-up also seeks to create an affordable and extensive insurance product portfolio that can be easily accessed and purchased either through digital platforms or by visiting any of Cebuana Lhuillier’s close to 3500 branches or 6500 partner outlets nationwide. 

CLIB’s goal to revolutionize the local insurance industry has already bore fruit. In 2023 alone, CLIB provided coverage to over 4 million unique customers. CLIB has, in fact, grown to be one of the largest retail insurance brokers in the country by providing insurance to millions of Filipino families. 

But the work is far from over. CLIB General Manager and Group Head Anthony M. Bernabe says the biggest challenge they have and will continue to have is evolving customer needs. 

He says: “Customers have become more price-sensitive and now demand for more affordable products. To add, relevant, simple to understand products, and seamless experience from a trusted company have become the minimum customer expectation. While digital is being pushed by the industry, most customers still prefer physical connections when purchasing insurance”. 

But Bernabe says they hope to overcome this by catering to the different and evolving needs of various customer segments. He explains: “Continuous innovation and simplification of insurance products is key to meet these changing customer needs, enhance affordability, and address emerging risks. We needed to be dynamic and responsive to market demands”. In heeding to what the market wants, CLIB is now focusing on providing health insurance to all Filipino families which has become top of mind especially after the pandemic. He explains: “Filipinos have been more mindful of their health and health protection. 

Unfortunately, most health products are either unaffordable to them or have very limited coverage. CLIB aims to bridge the gap by providing comprehensive health insurance for all”. MARLON BERNARDINO