Malayan Insurance, Philippines – The Case for Insuring Women for a Better Tomorrow

In 2018, MICO partnered with the IFC Women’s Insurance Program to become the first non-life insurer in the Philippines to offer solutions for the risks women face that could negatively impact them, their families, and their businesses. The goal of this partnership is to: address women’s risk mitigation needs by improving their understanding about risks, and how insurance can mitigate these risks; provide women with insurance solutions tailored to their needs; improve women’s perceptions of the insurance industry; and increase MICO’s number of women customers. 

Using the Human Centered Design methodology, MICO held strategy and customer value proposition workshops to create a women’s insurance program that is tailored to the personal and business risks that Filipino women face. The WeWomen Program, which MICO launched in September 2019, developed Simply the Easiest Life Assistant (Stela) Solutions: a suite of five insurance products that provide women with easy-to-understand, comprehensive coverage to mitigate risks at different stages of their lives. 

This case study showcases the business case for women's insurance in the Philippines.