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18 July 2018
MANILA, PHILIPPINES – Integrity, excellence, malasakit, and kusang-loob—these are the Philam Life values that Philam Foundation has been hinged on for over two decades. Founded in 1997, the Foundation was borne out of Philam Life’s serious intent to be a good corporate citizen and fulfil its social responsibility, advocating education, financial literacy, and wellness, in its thrust to take an active role in nation building and giving back to the community.
“Through Philam Foundation, we are able to reinforce our commitment to help Filipinos Live Better. This means doing what we can as an organization to help Filipinos live healthier, longer, and better lives,” said Aibee Cantos, Philam Foundation Chairman and Philam Life Chief Executive Officer.
On its 21st year, Philam Foundation continues to contribute in addressing societal needs through its core programs: Philam Paaralan, Philam Savings Awareness and Values Education Sessions (SAVES), and the Alliance for Philippines’ Health and Advocacy (ALPHA).
BUILDING THE NATION
One of the advocacies that Philam Foundation works actively for is the empowerment of the Filipino youth through education. Launched in 2012 after the onslaught of typhoon Yolanda, the Philam Paaralan program started out as a means of helping communities rebuild by constructing new classrooms in areas severely affected by natural calamities.
“With the help of our partners, we are able to rebuild better and faster, uplifting spirits in the communities gravely affected by calamities. The classrooms that we build become beacons of hope for many,” says Max Ventura, Philam Foundation President.
Philam Foundation, in partnership with various private and non-government organizations, turned over 33 newly-constructed classrooms to schools at the end of 2017, bringing up the number to 137 disaster-resilient classrooms built within five years. It has since expanded its coverage beyond disaster-stricken areas and now builds classrooms in remote, unserved, and underserved areas of the country.
The Philam Paaralan classroom ready for turnover to the school
Students pose with Philam Group Executives by the handwashing station.
COMMITTED TO FINANCIAL LITERACY
As Philam Paaralan is a school-based program, it became a natural platform where Philam Foundation began its advocacy on financial literacy. Philam SAVES is the Foundation’s advocacy to educate children and their parents and teachers on financial literacy. The program was motivated by a 2015 Standard and Poor study which reports that the Philippines is one of the 30 least financially literate countries in the world, with only 25% of adults aware of the basics of managing their money. This gives the Foundation a big impetus to pursue an initiative that will have an impact on financial literacy, giving birth to Philam SAVES in 2016.
Through its two-part module—story-telling and coin bank-designing session for students, and the Financial Planning Session for parents and teacher—Philam SAVES aims to promote the value of saving and being thrifty to schoolchildren and their parents and teachers.
“Philam SAVES is very important to us because being financially literate is the first step in achieving financial wellness. Through this program, we are able to do our part in addressing a very basic problem that can make a difference in the lives of so many people,” said Ventura.
Since its inception, Philam SAVES has educated over 4,600 students and over 1,700 parents and teachers from the Philam Paaralan school beneficiaries. In five years, Philam SAVES aims to educate 2.5 million students, parents and teachers, an ambitious number that will be achieved with the help of the 10,000-strong volunteers of Philam Group employees and Financial Advisors.
Because of its SAVES program, the Foundation was recognized at the recently concluded Asia Responsible Entrepreneurship Awards (AREA), a regional recognition program to honor enterprises in the field of corporate social responsibility. Philam Life emerged as an awardee in the Social Empowerment Category.
Storytelling session with students as part of the Philam SAVES module.
Student working on the design of his coin bank.
PROMOTING TOTAL WELLNESS
Aside from its education and financial literacy programs, Philam Foundation also spearheaded the formation of the Alliance for the Philippines’ Health and Advocacy (ALPHA) together with the Philippine College of Surgeons (PCS) and Philippine College of Physicians (PCP).
Launched in December 2017, ALPHA was created to address the health challenges faced by Filipinos through data-driven and evidence-based health advocacies and projects. This is in line with the Philam Group’s on-going ‘Live Better’ campaign that aims to make healthy living accessible to Filipinos and bridge the gap between their health goals and their actions.
For its initial salvo, the ALPHA consortium in partnership with Cancer Registry Philippines (CARE) under ALPHA 1.0, will undertake the establishment of a hospital-based cancer registry program in the country, with the goal of gathering data on cancer in the Philippines. “Through the registry, we will be able to create a cancer database that will help our doctors generate information for better patient care and management,” said Ventura.
As Philam Foundation looks forward to the future, it remains steadfast in its commitment to do its share in nation-building and giving back to the community through inspiring and empowering initiatives. Through Philam Foundation, Philam Life is able to reinforce its commitment to helping Filipinos live healthier, longer, and better lives.
Participants from 15 hospitals from Luzon, Visayas, and Mindanao join the first General Assembly and Training Session of the ALPHA Consortium for its hospital-based Cancer Registry System, in partnership with CARE Philippines. Leading the program were Dra. Trixie Tiangco, Co-Founder and CEO of CARE Philippines, Dr. Kenneth Hartigan-Go, President of the Philippine College of Physicians, and Max Ventura, President of Philam Foundation.
About Philam Life
The Philippine American Life and General Insurance Company (Philam Life) is the country’s premier life insurance company. Established on 21 June 1947, Philam Life has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises.
Philam Life has PHP251.4 billion in total assets as of 31 December 2017, while serving almost 600,000 individual policyholders and over 2,200,000 insured group members.
Philam Life understands the needs of its customers and provides holistic solutions that include life protection, health insurance, savings, education, retirement, investment, group, and credit life insurance. It also offers bancassurance and fund management products and services through its subsidiaries—BPI-Philam Life Assurance Company (BPLAC) and Philam Asset Management Inc. (PAMI).
Philam Life is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
About the Philam Group
The Philam Group comprises the biggest life insurance company in the Philippines. By putting its customers at the center of its operations, the Philam Group has earned the trust of its stakeholders and has achieved continued growth over the years.
The Philam Group was formed with the mission of empowering Filipinos to achieve financial security and prosperity. Through its strong network, it is able to offer financial solutions such as life protection, health insurance, savings, education, retirement, investment, group and credit life insurance, and fund management products and services.
After the establishment of Philam Life in 1947, the Philam Group has since expanded to include other affiliate companies, namely: BPIPhilam Life Assurance Company (BPLAC), Philam Asset Management Inc. (PAMI), Philam Call Center, and Philam Foundation.
Based on the Insurance Commission results as of 31 December 2017, the combined total premium income of Philam Life and BPLAC is at PHP40.2 billion, making it the market leader in the Philippines based on total premium income. Its strength and stability is further solidified with its top rank in terms of assets at PHP251.4 billion and net worth at PHP69.5 billion. It is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$216 billion as of 30 November 2017.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
Abbie L. Remo
Philam Life Head of Corporate Communications and PR
Mobile no. +63(917) 6268058