Strategic Human Resource

Overview
What is Philam Life?
• Philam Life was founded in 1947 by Corneliua Vander Starr,
the founder of AIG, and his partner Earl Carroll.

• Philam Life offers an extensive line of products in the life

insurance industry that provides solutions to
various financial needs including life protection, health
insurance, savings, education, retirement, investment, group
and credit life insurance.
Affiliations
• November 27, 2009, Philam Life bought a 51% stake in Ayala
Life and formed a joint venture with the Bank of the
Philippine Islands (BPI). Ayala Life was renamed BPI-Philam
Life Assurance Corporation (BPI-Philam) in 2010

• Philam Life partnered with Apple for the creation of iPos,

which is a dedicated application for generating proposals via
iPad.
Achievements
• Presidential Citation from the Philippine Government in
1994 for the company’s invaluable contribution to nation-
building and service to the country
• Asian Management Award for General Management
• Asian Management Award for Financial Management
• 11-time Reader’s Digest Platinum Trusted Brand Award
• Asia Trusted Life Awards 2018
• One of the Best Companies to Work for in Asia 2018
 Vision Statement
We are the undisputed leader in life insurance and wealth management.

Mission Statement
A Philam Life policy for every Filipino family.
We empower Filipinos to achieve financial security and prosperity.
Values and Objective

• Integrity - We do right things right for our stakeholders,

customers, company, agents and employees.
• Passion for Excellence - We strive for the best in everything
we do through continuous improvement and innovation. We
are ambitious and persistent in achieving our goals
• Malasakit - We care deeply for the well-being of our
stakeholders, customers, company, agents and employees.
• Kusang-loob - We are proactive and we have a sense of
urgency and responsibility.
Target Market
Philam Life provides various financial planning services
for every individual. The proposals the company
generates are done based on client preference, needs,
and priorities. Some of the products are:

o Active Family Provider o Philam Vitality

o Active Joint Critical Protect
o Moneyworks for Education
o Future Protect
o Money Tree Elite
o Group Health Choice
o Classic Corporate Personal
Accident
o Health Link
o Credit Life Prime
The target contact demographics to be a policyholder, as
iterated by the Business Development Manager, is anyone, as
long as the client consist of the following characteristics:

• Client must be at least 18 years old

• Client must be a resident citizen
• If client is a non-resident citizen, he/she must undergo policy
signing in the Philippines
• If client is from the United States, he/she must undergo FATCA
(Foreign Accounts Tax Compliance Act) Clearance
• If client is a resident alien, he/she may acquire a policy only if
allowed by the mother country.
• Client must be compliant to the requirements of the desired policy
(i.e. must not have had critical illness in the past, etc.)
Competitors
Direct Competitors Indirect Competitors
• Sunlife Financial • St. Peter

• Philippine AXA • Social Security System (SSS)

• ManuLife • Philippine Health Insurance

Corporation (PhilHealth)
• Insular Life • Pagtutulungan sa Kinabukasan:
• Pru Life UK Ikaw, Bangko, Industria at
Gobyerno (Pag-IBIG)
• Cocolife • Government Service Insurance
System (GSIS)
SWOT Analysis
Strengths Weaknesses

• Generation of paperless • Unmodernized exterior

proposals via iPos structure of the main
application in partnership Baguio office
with Apple
• Level of aggressiveness is
• Top in Net Worth and not on par with the
Assets among competitors competitor’s tactics
SWOT Analysis
Opportunities Threats

• Proximity of target market • Degree of competitors’

• Financial literacy of the
millennials
marketing tactics
• Saturated market; Possible
entry of new competitors in
the area/region
• Bad economy (increased
cost of living)
Strategic Planning Issues
1. Work Facility—interior displays a professional-looking
work environment, yet it will become beneficial to put
forward the enhancement of the exterior of the building.
2. Marketing Strategy—the level of aggressiveness is not on
par with the competitor’s tactics.
3. Human Resource—news regarding agents not stating
honest information and favorable proposals regarding the
manner of product presentation.
1st Year

YEAR SUMMARY OF RESOURCES PERSON/S EXPECTED

ACTIVITY NEEDED RESPONSIBLE OUTCOME
Presentation of Budget for: - Admin - Acknowledgemen
the strategic plan - Studying the - Division t and execution of
to the main office feasibility of head/officer the plan
1 project - Zone head - Increased
On-site proposal participation on
assessment - Cost for the strategy
researches
2nd Year

YEAR SUMMARY OF RESOURCES PERSON/S EXPECTED OUTCOME

ACTIVITY NEEDED RESPONSIB
LE
Redesigning the Budget for: - Admin - Improved exterior
main building or - The - Contracted design of the building
renovation (CTA: for renovation engineers
2 the next years) - Additional - Inviting appearance
space for competitive for the
equipment and central business
man power / district
temporary
place of
business
1) Work Facility
Factors to Consider
• Placement of the employees working regularly in the
building
• Safekeeping of equipment and supplies
• Work space required for construction
• DBP Branch does not hold enough space for business
Recommendation
1. Maximization of the DBP Branch
2. Temporary relocation of regular employees

Expected Outcome

- Improved view of people about the building and the

business
3rd Year

YEAR SUMMARY RESOURCES PERSON/S EXPECTED

OF NEEDED RESPONSIBL OUTCOME
ACTIVITY E
Strengthenin Budget for: - Marketing - Improvement on the
g marketing - Implementatio Officers flow of customers.
strategies n of new - Agents - Improved
3 marketing - Division competitiveness
strategies head/officer among competitors.
- Research on - Adaptation on the
marketing improvement
strategies regarding
advertisements.
2) Marketing Strategy
Factors to Consider
• Philam Life’s Marketing Principles—
1. Philam Life Baguio does not implement decision-making
for this issue especially for projects requiring big funding.
2. Philam Life opt to have real people in their advertisements,
not necessarily celebrities, and that television advertising,
in their perspective, is a mere expense.
3. Philam Life discourages marketing on the streets, wherein
agents will approach people in public for sales talk.
Recommendation
1. TV ads & ads in the Social Media platform
2. Hosting of Health & Fitness Activities for Philam Vitality
Promotion i.e. Fun Run
3. Creating seminars for people regarding financial literacy
Expected Outcome
- Improvement on the flow of customers.
- Improved competitiveness among competitors.
- Adaptation on the improvement regarding
advertisements.
4th Year

YEAR SUMMARY OF RESOURCE PERSON/S EXPECTED

ACTIVITY S RESPONSIBL OUTCOME
NEEDED E
Strict Budget for: - Human - Decrease in
enforcement and - Trainings Resources incident reports
observation of - Meetings Department - Honest and ethic
4 the company - Seminars /managers abiding
rules and - Superiors employees
policies (CTA: - Supervisors - Better
appreciation of
the process
3) Human Resource
Factors to Consider
• Apprehension for Agents Violating Standard Practices
1. Removal of agent’s licenses
2. Blacklist the agent to eliminate chances of recruitment
from other companies within the industry
3. Payment for damages
Recommendation
1. Mandatory implementation for attending learning sessions
2. Periodical report of policies and customer profiles

Expected Outcome

- Decrease in incident reports

- Honest and ethic abiding employees
- Better appreciation of the process
5th Year

YEAR SUMMARY OF RESOURCES PERSON/S EXPECTED

ACTIVITY NEEDED RESPONSIBLE OUTCOME
Reinforcement Budget for: - Human - More
of the marketing - Evaluation resource motivated
and human - Cost of the departments/ employees
5 resource trainings and managers - Healthier and
schemes seminars for - Marketing emotional
employees officers wellbeing of
the employees
- Improvisation
of the overall
view of the
organization
 Thank you!
Sources:

https://www.moneytalkph.com/insurance/top-life-insurance-companies-in-the-philippines-2017/

https://www.insurance.gov.ph/statistics/life/

http://www.philamlife.com/en/our-products.html

http://www.philamlife.com/en/about-philamlife.html

https://www.forbes.com/sites/andreacoombes/2018/03/13/millennials-are-good-at-saving-but-investing-not-so-
much/#757666c17266

https://www.securitybank.com/blog/what-are-millennials-doing-with-their-money/

https://business.inquirer.net/254910/philam-life-denies-manipulation-insurance-policies

https://news.abs-cbn.com/news/08/01/18/businesswoman-complains-against-philam-life-for-churning-insurance-
policies

https://medium.com/rta902/celebrities-are-advertisements-with-a-pulse-
7ea9897fe469?fbclid=IwAR34d0Q58TSPYqODRJVhM905Ic7N5L1t1qic5vYSslDLvCOalU9AH4mV7M4