Financial inclusion is the next step towards achieving a sustainable and equitable growth and development for the country. It aims to widen the reach of individuals to economic and financial services particularly the marginalized or vulnerable sectors in the country. With this in mind, ECCP has created the Special Committee on Open Finance and Financial Inclusion (SCOFFI) which aims to provide an avenue for stakeholders to discuss issues and solutions to the status quo while fostering financial inclusion through technology.
As the world continues to evolve and advance technologically, so do the insurance and finance industries. InsurTech, which innovates the world of insurance, has been gradually making its way in the Philippines. Several insurance companies have changed the landscape of their industry and innovated their reach to their consumers. There have been customer portals, applications and electronic billing services that are mainly for the purpose of insurance. These steps are just a few of the percepted innovations in the insurance and finance sector as we hope to open opportunities to a more inclusive insurance and saving industries of the economy.
It is in this context that the European Chamber of Commerce of the Philippines (ECCP) is organizing an event on InsurTech on 25 November, 9am via Zoom. Through this, we aim to promote dialogues and strengthen collaboration between the public and private sectors in advancing the financial inclusion and economic growth agenda, with focus on the Philippine InsurTech Regulatory Sandbox Regulatory Policy.
In close partnership with government, businesses, civil society, and academia, ECCP passionately works to enhance the business environment for both European and Filipino companies.