Insurance is Bought, Not Sold

Sun Life Financial announced its partnership with E-Commerce platform Lazada to make it easier for Filipinos to purchase insurance online. Recall: founded in 2012, Lazada is Southeast Asia’s leading online shopping and selling platform with $4.7b in funding from investors that include Alibaba and Tesco. The company enjoys over 32m monthly visitors to its website.

In what’s considered “a first of its kind” partnership (but really isn’t), Sun Life’s personal accident insurance product will be available to Lazada members through its website by July 2018. The insurance can be purchased and activated completely online.

“We’re proud to be the first insurer to team up with Lazada in the Philippines to make it easier for Filipinos to access insurance through online shopping. This is a great example of how we’re transforming our business through innovative digital solutions. Sun Life is committed to growing our business in the Philippines by offering our clients innovative choices and easy- to- access insurance through cutting edge digital partnerships like this one.” – Chief Executive and Country Head at Sun Life Philippines, Riza Mantaring.

“Filipinos’ behavior is changing, with more people turning to online shopping to meet their needs. We’re excited to partner with Sun Life and be at the forefront of making insurance more accessible digitally in the Philippines.” – CEO of Lazada, Ray Alimurung.