Eastwest, Ageas launch digital insurance JV

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GLOBAL financial service provider Ageas International Insurance and EastWest Bank formally launched on Tuesday their digital insurance joint venture in the Philippines, which will allow Filipinos to gain access to Ageas’ insurance innovations in the Asian and European markets.

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The joint venture company is called Troo and is headed by Hans Loozekoot as president and chief executive officer. Loozekoot said Troo seeks to answer the needs of Filipinos for protection, access to health care, education for children, and support during their retirement years.

“Troo is created from two institutions, EastWest and Ageas. Ageas brings the insurance protection people need, and EastWest provides a large connection across the country,” he said during the media launch in Taguig.

EastWest vice chairman and CEO Antonio Moncupa, Jr. said, “This joint venture is conducive to developing mutual trust, respect, and full cooperation. We are positive and extremely excited to go on a journey with Ageas.

We are positive it will not only contribute to EastWest and Ageas, but more importantly to the whole insurance community.”

Troo aims to become a premier insurance business in the country by combining EastWest Bank’s 400-plus branch network and deep understanding of Filipino consumers with Ageas’ 190-plus years of insurance and asset management expertise, data analytics, and training capabilities.

Troo’s bancassurance operations at EastWest stores started in April 2016 with Troo Advisors serving Filipinos in 48 stores. Today, Troo is in all 387 EastWest stores nationwide, providing financial advice and life insurance solutions.

“After having rolled out to all EastWest stores nationwide six months ahead of plan, we believe that this is the time to announce to everyone that Troo is here for the Filipino. The brand is designed to be Mobile-First to connect with the mobile-savvy Filipinos. Our name reflects our desire to be honest and true to our values and that of our customers. We aim to be a genuine game-changer, bringing a refreshing approach to the insurance industry,” said Loozekoot.

For a one-year old company, Troo has helped more than 150,000 families by financially protecting them, ensuring children’s education, and providing individual and retirement savings.

“All these services are channeled through exceptional face-to-face customer service and state-of-the-art digital technology,” the company said.

“Our intent is to give young Filipinos a sustainable advantage in life. We will do this by being an approachable company offering simple and flexible insurance options customized for the needs and lifestyles of today,” Troo
said.

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