Malayan Insurance Company Inc. (MICO), in partnership with IFC, a member of the World Bank Group, has made a program specifically designed for the Filipina available to the Philippine insurance market called We Women.
Malayan Insurance and IFC partnered in 2018 with support from the Women Entrepreneurs Finance Initiative (We-Fi) to increase women’s access to risk mitigation and financial protection solutions in the Philippines. We-Fi invests in programs and projects that help unlock financing to address barriers facing women entrepreneurs.
“As the Philippines’ leading non-life insurance company, Malayan believes that non-life insurance protection should present itself as solutions to the many challenges that women face, as entrepreneurs, as professionals, as heads of families,” said Ms. Yvonne S. Yuchengco, vice chairperson of Malayan. “Under our banner program We Women, we want to ensure that Filipinas nationwide have access to the assistance they need no matter the situation they may face, and in this way, achieve financial stability and growth. To start with, we are offering the “Stela” line of non-life insurance and lifestyle solutions for the Filipina, with specific women differentiator coverages, a first in the Philippines’ non-life insurance market.”
The idea behind Stela (Simply The Easiest Live Assistant), is to address the needs of today’s Filipina for protection of her family, gains, assets, and overall well-being.
“We are focused on becoming the non-life insurance partner of every woman in the country. This is our way of contributing to the government’s efforts toward financial inclusion for all,” said Ms. Eden R. Tesoro, Malayan Insurance’s Chief Underwriter.
With Malayan Insurance’s vision, Yuan Xu, IFC Country Manager for the Philippines shares, “More and more Filipina women professionals and entrepreneurs are gaining the capacity to acquire hard-earned assets, which need to be protected. We are pleased to support Malayan Insurance in developing a program that will further empower women, educate them on asset protection and provide solutions tailored to their needs and challenges.” She added, “Women are the main caretakers of children and elderly in most culture. Hence, improved access to insurance can shield women and their family against shocks in life, which results in better future for their children and the country as a whole.”
Stela solutions provide services for Filipinas seeking to secure their assets. Through this, women can choose specific insurance solutions based on her needs. From family, to home, to motorcar, and to business, an appropriate Stela solution is readily available to be the partner for a woman’s growth, security, success, and independence.
There are seven Stela solutions: Stela Wheels is for the woman who values her safety and convenience on the road; Stela Shield and Stela Family are for the woman who wants top security for themselves and her spouse, children and other loved ones; Stela Home is for the woman who wants to ensure protection for her home and household; and Stela Biz Silver, Gold, and Red (Red being the most comprehensive Stela business insurance) are business insurance solutions for the woman entrepreneur who wants to see her business grow while protecting her employees, her family, and herself.
“Starting and growing a business is one of the most powerful tools for women to build a better future for themselves and their communities. Yet we know that women are particularly sensitive to business risks that have the potential to spill over to their personal lives. We are delighted that by supporting this program We-Fi can help break down this key barrier and enable more women to thrive as entrepreneurs,” says Wendy Teleki, Head of the We-Fi Secretariat.
In any life stage of every Filipina, Stela is there to be her reliable partner. With a concierge service for policyholders, a live assistant will truly make the everyday activities easy allowing her to give more time to what matters the most.
For inquiries about We Women and Stela Solutions, visit www.wewomen-malayan.com or call 628-8628. Effective October 6, 2019, call 8628-8628.