Cocolife sweeps International Business Magazine awards

Cocolife wins big at the International Business Magazine Awards this year. The iconic insurance company was hailed as the Most Outstanding Life Insurance Company. It’s healthcare arm was commended as the Most Outstanding Healthcare Provider in the Philippines – no easy feat in the face of the COVID-19 pandemic.


Atty. Martin Loon, Cocolife President and CEO

“The award was bestowed upon Cocolife based on its ongoing strategic initiatives, expansion activities and year-on-year progress. It was also recognized for achieving high ratings from various regulatory bodies, its strong sales network across the country, and for its growing number of policyholders in both individual and group insurance,” according to International Business Magazine in a statement.

The Dubai-based publication recognizes global corporate leaders in the business and finance sectors. Nominees are placed under a grueling “Scrutinizing and Selecting” process by a panel of experts before the winners are chosen

“Our awards have always been structured around the core corporate players who have been known to showcase their extraordinary power to lead from the front, and honouring all those who strive harder to achieve supreme quality-backed services,” says IBM reps.

Aggressive expansion activities were the brainchild of head honcho Atty. Martin A Loon when he was appointed as President and CEO of the company. New products like Cocolife Protect, Cocolife Protect Plus and Cocolife FLEXI were introduced to cater to a wider customer base. Recently, they embarked on full digitalization of their products and services including the development of their mobile app a modernized life insurance platform that provides customers the convenience of 24/7 access.

“I think Cocolife is very focused on its mission to serve. With that sacred mission in mind, we made sure to fulfill all aspects of the business excellently and with integrity. Our mindset has always been about service – all of our systems, process improvements, and even our constant desire to achieve excellent corporate governance, is really meant to serve our people better,” says Loon.

“We have, and shall continue to extend full coverage to all COVID-19 cases for our healthcard holders,” states Loon in his President’s Message.

“As the first healthcare program provider certified by the ISO 9001:2008 and regulated by the Insurance Commission, Cocolife Healthcare boasts of the widest network of accredited providers, making healthcare accessible to more Filipinos across the country,” adds International Business Magazine.

This is especially helpful amidst current protocols for the pandemic, with hospitals requiring daily payment for their patients in order to continue treatment. Cocolife Healthcare policyholders, as recounted from experience, did not have to go through this ordeal.

Cocolife has also extended full coverage for COVID-19 cases for all healthcard holders – one of the few insurance companies to do so.

During the height of the COVID-19 pandemic, Cocolife was the first to adapt, prompting other providers to follow suit. From the get-go, the company extended their coverage to the deadly disease.

“This business line requires a lot of effort, long years of building trust and relationships with our most extensive roster of partner hospitals, clinics and doctors, paving the way to accessibility of medical care for our clients anywhere in the country. We have continuously streamlined our processes to ensure that we always meet our commitments on time,” says Franz Joie D. Araque, EVP and Chief of Cocolife Healthcare Division. “We constantly train our people the value of customer service, making us the preferred long-term partner in managed healthcare. We constantly innovate to meet the ever changing and unique needs of our customers.”

Amidst the ongoing health crisis, the multi-awarded insurance company has made it a point to streamline services, to the benefit of both clients and employees. Digitization efforts, like the development of the Cocolife App aims to bring financial solutions to policyholders’ fingertips, while ensuring the health and safety of their staff. The new Cocolife Healthcare Mobile App , meanwhile, is designed for seamless transactions between its members and healthcare providers.

“This achievement reminds us of the importance of our mission: to serve others more and find ways to be better. We hope to make Cocolife a world-class insurance company, a beacon of hope that Filipinos can truly be proud of,” states Cocolife President Martin Loon.

Learn more about Cocolife’s innovations here. 

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