Press release

Sun Life becomes the first insurer in the Philippines to partner with Lazada to help make insurance more accessible

In photo are:  (L-R) Sun Life Chief Digital Partnerships and Fintech Officer Teodoro Pineda; Sun Life Chief Strategy and Financial Management Officer Benedict Sison;  Sun Life Chief Executive Officer and Country Head Riza Mantaring; and Lazada Philippines Chief Executive Officer Ray Alimurung.

Sun Life Financial, the number one life insurance company in the Philippines, and Lazada, the number one online shopping and selling destination in Southeast Asia, have signed a first of its kind partnership in the Philippines that will make it easier for Filipinos to purchase insurance online.

Starting in July, Sun Life’s new personal accident insurance product, Family Armor, will be available to Lazada members through its online shopping website. Family Armor is the first product of its kind to be sold on Lazada.com.ph. Lazada members can purchase and activate an insurance product completely online, eliminating the need for physical documents to be delivered and submitting the forms to a customer center. 

“We’re proud to be the first insurer to team up with Lazada in the Philippines to make it easier for Filipinos to access insurance through online shopping,” said Sun Life CEO & Country Head Riza Mantaring. “This is a great example of how we’re transforming our business through innovative digital solutions. Sun Life is committed to growing our business in the Philippines by offering our clients innovative choices and easy- to- access insurance through cutting edge digital partnerships like this one.”

Lazada Philippines Chief Executive Officer Ray Alimurung also expressed his excitement over the partnership.

“Filipinos’ behavior is changing, with more people turning to online shopping to meet their needs. We’re excited to partner with Sun Life and be at the forefront of making insurance more accessible digitally in the Philippines,” he said.

The new collaboration is the latest move by Sun Life as it continues to transform its business by advancing the company’s digital strategy and exploring innovation-led collaborations. Sun Life has recently launched two new products in partnership with telco providers in the Philippines and Indonesia and developed the highest rated insurer mobile app for clients in Canada. These recent moves also support the company’s purpose of helping people achieve lifetime financial security and live healthier lives.

About Sun Life Financial

Sun Life Financial is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2018, Sun Life Financial had total assets under management ("AUM") of $979 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to Editors: All figures in Canadian dollars.