The Insurance Industry and its Role in the Philippine Economy: An Infographic

Insurance companies play a vital role in the Philippine economy. Their industry is expected to grow faster in 2017 as the economy develops and the number of middle-income Filipinos increases. The Insurance Commission’s Annual Report for 2015 showed a 12.36% markup on the amount of average spending of each individual on insurance from the previous year.

Despite this progress, many Pinoys still consider having insurance as a luxury. According to a 2015 report by the BSP, the most common reasons for not having life, health, or accident insurance are lack of money and the perception of high cost.

Whether they plan to invest on it or not, the media plays a crucial role in influencing the decision of Filipinos on their finances.

Monitoring and understanding all the relevant stories, news, and discussions from different channels will help you understand what influences financial decisions.

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As the insurance industry continues to grow, there are more and more stories being shared on Filipino spending and financial investments.

Media meter is a media analytics platform that helps financial institutions and investment companies like you to monitor and track their news. We provide insights and analysis to make you fully understand how stories in different media affect your brand and your competitors. You can also use our dashboard and mobile app to access your stories anytime.

Contact our media monitoring experts to set up your free trial today!