The Philippine Insurers and Reinsurers Association (PIRA) signed a memorandum of understanding with various stakeholders in the insurance industry to promote collaboration and unity, which PIRA sees as key to the industry's growth and resilience.
PIRA Chairperson Rebecca dela Cruz and other members of the PIRA Board of Trustees signed the MOUs with the following groups:
Philippine Life Insurance Association (PLIA)
Insurance Institute for Asia and the Pacific (IIAP)
Actuarial Society of the Philippines (ASP)
Association of Insurance Brokers of the Philippines (AIBP)
Society of Independent Insurance Intermediaries Philippines, Inc. (Triple I)
Philippine Insurers Club (PIC)
Association of Insurance Accountants of the Philippines (AIAP)
Marine Underwriters Association of the Philippines (MUAP)
Society of Underwriters for Property and Casualty Insurance, Inc. (SOUND)
Philippine Association of Surety Underwriters, Inc. (Philasurers)
Association of Insurance Claimsmen, Inc. (AICI)
Philippine Institute of Loss Adjusters (PILA)
Dela Cruz said the MOUs are aimed at establishing unity and cooperation among stakeholders and players in the non-life industry, regardless of the companies or the sectors they represent.
Dela Cruz said the groups that signed the MOUs are united in purpose -- to make the industry resilient and sustainable.
"Resilience and sustainability go hand in hand. We can never be resilient -- meaning we can never survive or surpass the major challenges thrown our way -- if we do not engage in sustainable practices," she said.
"And these groups that we are aligning PIRA with all want resilience and sustainability for the industry. Now we will work together to achieve these things."
PIRA earlier held a Collaborative Strategic Planning Session with the Insurance Commission to align their projects and goals.
PIRA and the Insurance Commission, along with their new partners -- will now be working on projects involving insurance literacy as well as ways to improve the industry's service to the insuring public.
IC OIC for Technical Services Ms. Marivic Peralta represented the Insurance Commission during the signing as a witness.