The Life Underwriters Association of the Philippines (LUAP) formally launched its first-ever national awards program for the country’s top life insurance advisors and companies last March 17.
In partnership with the Insurance Commission (IC), LUAP unveiled the Philippine Life Insurance Agents Awards (PhilLIAA) during a media event held at the Sofitel Philippine Plaza in Pasay City. A Memorandum of Agreement was also signed to signify LUAP and IC’s commitment to continue fostering the culture of excellence in the insurance industry.
“We honor and celebrate the dedication, passion, and success of our life insurance agents, financial advisors, insurance professionals, as well as the companies that produced them through PhilLIAA. They have played a vital role in making sure that our growth is never hindered by our current situation. And in the past two years, they have shown us their resilience and hard work to help the industry bounce back stronger, notwithstanding the unfavorable economic effects of the pandemic,” said LUAP’s national president, Ms. Karen Yulo.
During the media launch, LUAP shared that this year’s program has three categories, namely the Elite Awards, the Asian Circle of Excellence (ACE) award, and the Gintong Kalasag which is the newest addition to the awards this year.
The Elite Awards is open to licensed life insurance professionals who are LUAP members for 2022. To be eligible for this award, the insurance professional must be able to meet the requirements set by LUAP including annualized premium, persistency rate, and case count.
Meanwhile, the Asian Circle of Excellence (ACE) award is given to the Top 10 life insurance professionals in each of the life companies in the Philippines. This award was established in 2003, making LUAP the first underwriters association in Asia to give recognition to life insurance professionals.
Lastly, the Gintong Kalasag Award will be given to the Top 10 life insurance advisors in the Philippines based on their annualized premium. LUAP mentioned that this is, by far, the highest merit in the insurance industry.
In his recorded message, Insurance Commissioner Atty. Dennis Funa congratulated LUAP for the successful launch of the awards program. He also noted that the insurance industry still managed to achieve growth and development, thanks to the efforts of the insurance companies, agents, underwriters, and industry professionals.
“It is, indeed, high time that we recognize the achievers who rose to the occasion. I hope that this award would serve not only as another roster of recognition or another trophy to be received, but as a testament to the quality of service and relentless perseverance of our financial advisors, agents, and industry professionals,” Atty. Funa said.
LUAP, the country’s premier association in the life insurance industry, is a dynamic organization composed of well-trained, competent, and highly respected professional insurance agents. Formally set up in 1983, LUAP remains committed to promoting avenues for life underwriters to upgrade their skills and knowledge.
Life insurance agents and companies in the Philippines are eligible to join the awards program. Entry to the PhilLIAA incurs a standard registration fee. For more information about LUAP and its awards program, PhilLIAA, you may visit their website, www.luap.com.ph, or their official Facebook page.
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