EastWest Bank and Ageas steadily build local insurtech Troo
EastWest Bank and Ageas celebrate the 4th anniversary of their joint venture in the Philippines. This partnership operates under the brand name Troo. Troo offers life insurance to customers of EastWest Bank and Filinvest Group.
“From the start, Troo has been embracing the latest technology and digital solutions as a core of its daily business,” says Hans Loozekoot, President & CEO of Troo. “We are the first insurance company in the world to put in place its end-to-end integrated IT platform in the cloud. This enables us to offer our customers a seamless experience and optimize our operations.”
“Bancassurance is a key pillar of our growth strategy,” EastWest Bank Vice-Chairman and CEO, Antonio C. Moncupa, Jr. states. “We now offer a complete menu of financial services to every Filipino — whatever their needs may be.”
Jesus Roberto S. Reyes, President & Deputy CEO of EastWest, adds: “Troo is becoming an important contributor to the bank’s fee income.” Soon, Troo will launch its innovative GoTroo customer engagement platform. It’s a mobile-first platform that is being developed by Troo’s agile team.
“GoTroo is integrated with our back-end systems, “ says Loozekoot. “And it will give customers access to real-time information on their Troo policy. Additional innovative functionalities of the platform such as voice recognition for login and chat features are underway.”
“To mark the anniversary, we’re launching Troo BuildWealth Limited Pay,” highlights Dominik Smeets, Chief Strategy & Business Development Officer of Troo.” “Other exciting products are also in the making.”
BuildWealth Limited Pay is the latest variable unit-linked (VUL) product from Troo. It’s the first real limited pay VUL in the country. And it gives customers choices for their payment period, whether it’s 3, 5, 7 or 10 years. BuildWealth Limited Pay is the third option in the VUL suite of solutions, “Grow your wealth, your way.” Like the other two solutions, BuildWealth Limited Pay combines life insurance with investment options.
This new insurance solution will further boost growth for Troo to become a top 10 life insurance player in the coming years.