THE insurance industry throughout the Association of Southeast Asian Nations (Asean) earmarks at least a week in the month of October for the celebration of Insurance Consciousness. The Philippines decided to dedicate the whole month of October to give ample time to hold several events that will further enhance the consciousness of insurance. Several activities were lined up by the various associations in the industry, led by the Philippine Insurers and Reinsurers Association (PIRA) and the Philippine Life Insurance Association (PLIA). PIRA chose the theme "Strengthening Disaster Preparedness and Resilience through Insurance." To kick off the month-long celebration, a Mass and opening ceremonies were held at the Makati Sports Club, attended by Insurance Commissioner Reynaldo Regalado and officers, intermediaries and employees from the insurance industry. PLIA held a golf tournament, whereas PIRA held a bowling tournament, which drew around 60 bowlers. Some executives were guests on the radio program of Mr. Errol Dacame of DZRJ, where they had a very lively discussion on the importance of insurance. On Thursday, a Conference on Marine Insurance will be jointly sponsored by PIRA and the International Union of Marine Insurance. Several experts on marine insurance will be flying in to share with us the current developments and issues on marine insurance coverage. PLIA has launched a social media campaign to promote financial stability and security, especially among the young.
From the above list of activities, one can see that the events were attended by the insurance men and women and not by the clients or insureds. Maybe there were listeners of the radio program, but perhaps it should have been longer and announced to the public earlier so they could tune in. Radio is the best way of reaching even the farthest places in the country. We should use this more to explain the need for insurance. I believe the best way to convince them to secure their properties or themselves and their families through microinsurance is through insurance education.
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