Malayan Insurance COVID-19 protection products bag 2 global honors

MANILA, Philippines — Malayan Insurance Co. Inc. has snatched two titles awarded by the UK-based publication Global Banking & Finance Review.

At this year’s Global Banking & Finance Awards (GBAF), the prestigious publication named the Best Non-Life Insurance Product in the Philippines 2021 for Vital Cover, and Best Travel Insurance Policy in the Philippines 2021 for its Travel Master policy with Coronavirus Disease (COVID-19) coverage.

The GBAF awards recognized the non-life insurance company’s innovative and customer-focused products sensitive to the current circumstances.

Malayan Insurance vice-chairperson Yvonne Yuchengco said that the two awards validated Malayan’s efforts in creating products that are timely and suitable to the clients’ needs.

Malayan’s Vital Cover, which won Best Non-Life Insurance Product, is a unique five-in-one accident and hospitalization product that helps policyholders manage the adverse financial impact of COVID-19 and two other modern-day diseases with cash benefits. Vital Cover is currently available through Malayan’s insurance agents and through its website, www.malayan.com.

GBAF acknowledged Malayan’s Travel Master with COVID-19 coverage for its extensive COVID-19 cover and separate travel personal accident and sickness benefit, along with covers for travel and baggage inconveniences.

Among the Philippine’s first travel insurance products that offered COVID-19 coverage for international and domestic trips, Travel Master with COVID-19 also extends hospital allowance, compassionate visit support for hospitalization due to COVID-19, and flight cancellation reimbursement on top of the standard travel insurance benefits.

The plan provides policyholders with the necessary cashless assistance free of charge to the insured, such as emergency medical repatriation, cashless hospitalization guarantees, evacuation of mortal remains, and emergency evacuation, through its international partner, Assist America.

The Global Banking and Finance Awards is an annual recognition program given by the UK-based publication Global Banking & Finance Review. With a readership exceeding three million that includes C-suite executives and business leaders from over 200 countries. The publication provides in-depth news and insights on the world financial market.

Malayan Insurance Co., Inc. is the Philippine’s leading non-life insurance provider, ranked number one in Gross Premiums Written (GPW) by the Insurance Commission. It is a member of the Yuchengco Group of Companies.