6 days ago
Life insurer Singlife says over 1 million policies issued
Digital life insurer Singlife Philippines has crossed a major milestone with more than one million policies issued.
In a press release issued Thursday, Singlife said it has paid out more than P100 million in claims since the company's launch in 2020.
Singlife said the achievement comes as the company deepens its foothold in the local market through its mobile-first platform and customer-centric innovations.
'We didn't build Singlife to follow the old playbook—we built it for a digital world,' said CEO Lester Cruz.
'We anticipated a shift where Filipinos would want financial protection that's on-demand, transparent, and completely in their control. These numbers prove that this model doesn't just work—it's what this generation has been waiting for,' he added.
Part of Singlife's growth was its Plan & Protect app, which was launched in 2023 as the country's first fully digital, end-to-end insurance platform.
Since then, the app has amassed 1.4 million installs and facilitated over 45,000 policy issuances—without the need for physical paperwork or traditional agents.
The insurance company also reported a sevenfold year-on-year growth in app-driven business, now accounting for the majority of its new premiums. — Ted Cordero/BM, GMA Integrated News
