Philam Plans at fifteen is creating the standard in the pre-need industry, against whom all other companies’ performances shall be measured. While competitors throw around words like yardstick, benchmark and touchstone to describe their aspirations, Philam Plans already embodies it. This is not to say, it has achieved all that it can be. In fact, it is in recognizing that perfection is always slightly out of reach that it sought to surpass its previous accomplishments.

Veni – I came:

In keeping with the Greco-Roman theme set during the Victory Rally earlier this year, the anniversary celebration calls to mind the early beginnings of the company in 1989 with founding president, Atty. Eliseo P. Dizon and Marketing Head, Enrique G. Dela Cruz at the helm of, what was to be, a great pre-need empire.

Fifteen years ago, the opportunity to be the first multinational pre-need company was too tempting to resist for the leading life insurance company in the Philippines. As a strategic response to the fast-growing, highly unregulated pre-need industry, life insurance giant Philamlife formed Philam Plans. Philamlife saw the opportunity to establish the biggest, most formidable, professionally-managed pre-need company and it did just that with the birth of Philam Plans in April 19, 1989.

Vidi – I saw:

The birth of Philam Plans was a welcome break to an industry composed of mostly family owned companies. As the lone mutinational company in the league, Philam Plans was uniquely advantaged by its AIG heritage. In an industry breakthrough unheard of, the new-born company pursued excellence in all aspects of its operations, garnering the following “firsts” in its fifteen years of existence:

· In 1994, five years after its first full year of operation, the company breached the billion-peso mark with P1.7 billion in gross sales, boosted by a 75% increase in sales and 105% increase in net profit from the previous year. It became the first pre-need company to do so in record time.

· In 1995, after only six years in operation Philam Plans captured the number one overall pre-need lead, beating such pioneering pre-need companies as CAP and Pacific.

· In 1998, it became the first pre-need company to earn ISO 9002 certification, proof of its world-class capabilities and compliance to internationally recognized quality management standards.

· In 1999, it became the first pre-need company to be ISO 2000-compliant, ensuring the security and safety of operationally critical information systems.

· To date, it stands to be the first and only pre-need company to be a LOMA member, a long-term commitment to develop the competencies and skills of its officers, managers and supervisors. Based on the number of employees taking up LOMA and passing their exams, it received international recognition for educational excellence.

· In 2001, when it breached the one billion mark for First Year Payment (FYP), it became the first company in the pre-need and insurance industries, thus far, to accomplish such a formidable feat in a little over a decade.

· In 2002 and 2003, we captured the leadership position proving once again our preeminence in our field and our determination to dominate our industry and to rule it uncontested.

Vici – I conquered:

While our competitors are content to become number one in sales, we aim to be undisputed — to leave the closest contender so far behind us not only in sales volume but in all aspects of pre-need operation and marketing. Our goal is not merely to be profitable and financially stable but to deliver the best products and customer service to all our stakeholders. Our mission is to be the trailblazer and innovator, to be the brand synonymous to pre-need.

We are surely on our way. Last year, despite the depressed economy and the pre- need market contracting 13.63%, we not only held on to the top position two years running, but also recorded some pretty impressive achievements in the areas of sales, marketing, operations and finance.

· We cornered 21.7% of market share for all plans with over seven billion pesos in pre-need sales.

· We led in pension with about four and half billion in sales and 25.65% of the market.

· We came in a very close second in education sales capturing 19.22% of market share compared to CAP’s 19.24% with over two billion in sales. This is especially significant because CAP has been the undisputed education plan leader for over two decades, having been the first to market the product.

· We increased our A&H policy count 178% and production by 88% to prove our commitment to AIG’s efforts to improve profits for the entire organization.

· We achieved our FYP goal of one and a third billion pesos, posting a growth rate of 11.45% from the previous year.

· In the area of Marketing support, we introduced innovations such as additional agency award categories besides the Award for Marketing Excellence, to pay tribute to exemplary agency performance in the specific areas of productivity, recruitment, and the promotion of an active sales force.

· We organized The Learning Academy (TLA) to systematize the training activities of each agent from SC to agency leader. This four-level module approach equips the sales force with more comprehensive tools and skills to succeed in selling and people management.

· We created the BIDA BOSS program, a career orientation program co-sponsored by the agency, to ensure the agency leader’s commitment to get only quality recruits with real potential.

· We conducted below-the-line activities for the Pangako Education Plan to enable our provincial-based sales associates to top the broad market for eduction plans.

In other areas of operations and finance, we also sought improvements to continuously enhance customer service such as:

· Revisions in the licensing procedures to accommodate the sale of A&H plans.

· Inclusion of A&H overriding commissions (ORCs) in the revised SOA statements of agency leaders to enable them easier access to funds to boost sales activities.

· Mechanization of internal processes to shorten the turnaround time of new business processing from fifteen days to seven days.

· Capability to process A&H products solicited by our sales counselors via our own computer system.

· Increase of non-medical underwriting authority to 200% of the current level, enabling our processors to process high-valued businesses faster, a move that shortened turn-around time & improved customer service.

· We implemented new financial policies that improved accuracy of agent SOAs, resulting in higher agency satisfaction & retention.

WE HAVE FUN HERE

Ask any employee who has been in the company long enough to have served 2 presidents and 3 heads of Sales and Marketing the question “Why do you stay?” and you can get answers as varied as “I got so busy that when I had the time to pause, I realized its been 10 years” . Another one will swear it’s not the pay, but “the friends I have grown to love here” while a third will admit “I can’t leave, I don’t have time to write my resignation letter”. While they all claim that life in Philam Plans is truly a mean task, they are all one in admitting that “We have fun here”.

As a young company on the fast lane, Philam Plans has been home to some 400 employees whose average age is 27. True, the officers bring the average up, but at an average age of 43, the company leaders are young themselves. This is not to mean that they are lacking in experience or training. On the contrary, they are by far the best talent available in and out of the industry.

The employee’s relationship within the organization can be described as very cooperative. Employees share in work innovation and process improvement to achieve work simplification and higher productivity. Managers, on the other hand, work side by side via a cross-functional work discipline that encourages open communication and teamwork thru common projects.
Beyond the work, there is real camaraderie. In truth, the camaraderie has gone beyond the job into their personal and family lives for it is not uncommon to find married couples brought together by their jobs in Philam Plans. Yet some have converted their co-employees into kumares and kumpares.

The Filipino culture of “damayan” is felt here as well. Not very long ago, a co-employee died on the job, an event that brought the employees together to help the family deal with the loss and arrange for the final memorial rites. You can be assured someone will offer help when beset by unforeseen events like accidents, fire and even storms. The Human Resources Department is quick in activating volunteers and donors who can provide relief.

So, does it surprise you that people stay in Philam Plans? For the 50 or so employees celebrating their service anniversaries this year, Philam Plans sends you an invitation to stay– and have fun here!

-- Amelita F. Tamayo