Prioritizing customer-centric insurance services

Cocolife, the largest Filipino-owned life insurance company, was recently honored with the prestigious CXP Best Customer Experience Award 2024 and recognized at the International Finance Awards as the Best Customer-Centric Life Insurance Company in the Philippines for 2024. Cocolife also holds the distinction of being the only Filipino company to receive the CXP Best Customer Experience award among its Southeast Asian contemporaries.

The award honored Cocolife’s deep understanding of its customers’ needs and investments in cutting-edge technology to enhance its service delivery.

According to Teresa Bose, Cocolife’s Vice-President and Head of the Customer Experience Department, the company views excellent customer experience as the foundation of its business strategy.

“We prioritize convenience, efficiency, and service excellence. We don’t just sell insurance products, we deliver on our promises, providing peace of mind and security to our customers,” she added.

Cocolife’s recognition stems from its innovative approach to meeting individual client needs by leveraging advanced technology and various communication channels.

For instance, the company’s Quick Response Team ensures prompt and accurate replies through social media platforms like Facebook and Instagram, while its Client Resolutions Unit swiftly addresses customer concerns, turning challenges into opportunities for growth.

Another key factor behind this recognition is Cocolife’s Just Ask Live (JAL) platform, a real-time, video-based customer service tool that provides direct access to customer service representatives. The platform ensures quick and effective resolutions, setting a benchmark in customer support for the industry.

Similarly, the myCocolife App has streamlined how policyholders interact with their insurance plans. The application provides a user-friendly interface for managing policies, accessing information, and availing services directly from the customer’s smartphone.

“Direct engagement has made us realize that today’s customers want partnerships with companies that prioritize their changing needs and not just transactions. Also, personalized service is no longer optional — it is expected,” Ms. Bose explained.

Cocolife’s achievements extend to the 2024 Global Business Review Magazine Awards, where the insurance company secured multiple honors for the third consecutive year. Among these were awards such as Best Life Insurance Company in the Philippines, Best Customer Service in Healthcare Provider — Philippines, Best CEO of the Year, Best Chairman in Life Insurance Company, and Best Life Insurance Management Team.

The company was also recognized as the Customer-Centric Healthcare Provider — Philippines by the 2024 Gazet International Awards, which also recognizes and rewards global organizations for their achievements in various fields.

Such awards recognize companies and individuals who demonstrate excellence in business and finance, with winners selected through a rigorous judging process based on performance, sustainability, growth, and innovation.

“For Cocolife, it is our duty to serve our clients with the best insurance products, together with the highest standards of customer servicing, especially during these most trying times,” said Cocolife President and Chief Executive Officer Jose Martin A. Loon.

Rooted in core values

Cocolife’s approach to fostering enduring relationships hinges on its core values of reliability, excellence, teamwork, integrity, and empathy (RETIE). Ms. Bose explains that these principles guide every interaction, ensuring that the company prioritizes customers and employees over profit.

“We value our customers and employees over profit. We deliver on our commitments by offering quality and personalized insurance products and services that help Filipinos achieve a more financially secure future and peace of mind,” said Ms. Bose. “Our transparency and simplified product information provides a clear direction in every interaction. These help us deliver overall customer satisfaction built on trust.”

A legacy of leadership and innovation

Cocolife’s 47-year legacy as the first ISO-certified Filipino insurer and the largest Filipino-owned stock life insurance company reflects its dedication to providing comprehensive insurance solutions. Such recognitions from award-giving bodies further cement this legacy.

Chairman Ret. Justice Bienvenido L. Reyes attributes these achievements to the collective efforts of Cocolife’s dedicated team. “The people behind the management of Cocolife are some of the best in their fields who share the same drive to become an instrument of change and service to our clients,” he said.

With an enhanced suite of products and services, Cocolife remains steadfast in its mission to be the premier insurance partner for Filipinos through embracing technological advancements and fostering a culture of trust.

“It is important to us that we provide a service that builds trust with our clients. Trust is something you build over time, and we take every opportunity to strengthen that trust by putting our clients first,” Atty. Loon explained. “These recognitions further highlight Cocolife’s unwavering commitment to helping Filipinos in their journey towards holistic financial wellness.”

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