A corporate strategy for Philam Life

• Main Author: Pantaleon, Ma. Teresa G.
• Format: text
• Language: English
• Published: Animo Repository 1998
• Subjects: Business Administration, Management, and Operations
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/2225
• Institution: De La Salle University

The Life insurance industry is gearing up for tougher competition as more aggressive indirect competitors are coming from the pre-needs, banks, stock and mutual companies, and many foreign insurers are entering the market as a result of full liberalization. This signifies new products and services, technology transfer, and more sophisticated methods of distribution. At the same time, the Philippines projected upbeat in economic performance translate to higher disposable incomes and more money to spend on insurance. The industrys prospects, therefore, remain promising. As the undisputed market leader in the life insurance industry, Philamlifes strengths are its multinational/global affiliation, comprehensive products and services, modern information technology, adequate financial resources, and sound financial condition. It integrates two of its key resources, and sound financial condition.. It integrates two of its key resources sales force and service support to build its competitive advantages of having the largest agency force and widest distribution network. The future strategic positioning of Philamlife shall be forced on recombination of business to create tomorrows financial consultants and managers through a more integrated packaging of products and services. Total financial servicing will be the wave of the future. To accomplish this, technology-driven service enhancements will serve as enablers and structure will shift to a team-based, cross-functional, and self-managed corporations. All these will be geared towards meeting the future demands for speed and versatility of services of a more sophisticated customer base.