Pioneer Insurance is reshaping how insurance works for underserved Filipinos by focusing on accessibility, trust, compassion, and efficient claims settlement.
Speaking at two separate occasions, Lorenzo Chan Jr., Group Head of the Pioneer Group of Companies, shared Pioneer’s secrets to success in microinsurance. At the Asian Development Bank’s panel discussion on microinsurance and inclusive finance, Chan cited the important role of regulators and an enabling framework to make insurance more accessible to low-income sectors.
“For this market, accessible and affordable insurance cushions the blow and helps absorb the shock that comes after tragedies. This is the impact and empowerment that inclusion brings,” Chan said.
He emphasized that while trust remains the foundation of microinsurance, the secret ingredient to earning it is paying claims as soon as possible.
Pioneer’s field operations have been tested in major disasters such as Typhoon Haiyan, where the company deployed teams to affected areas, verified claims with local officials, and distributed cash payouts on the spot, foregoing the usual paperwork delays.
“We pay legitimate claims in days, not weeks. That’s how you build trust,” he said.
In another speaking event at the Geneva Association’s 2025 Programme on Regulation and Supervision (PROGRES) Seminar in Singapore, Chan once again reiterates that every claim moment is a trust-building experience.
Addressing an audience of finance experts and stakeholders, Chan shared that the company’s approach centers on simplified requirements and prompt claims
settlement, building long-term credibility among customers who often view insurance with skepticism.
“Pay claims, build trust, and the rest will follow,” Chan said. “Insurance is all about showing up when people need you most.”
In 2024, Pioneer recorded over 30 million enrollments and paid over P1.3B claims.
