The city welcomed global leaders in the insurance industry with the launching of Allianz PNB Life Insurance site recently.Last April 5 at Ebro Pelayo Building II along E. Jacinto Street was the blessing and opening of the newest branch of the Allianz PNB Life Insurance in Mindanao.
Noel Ellorenco, the company’s chief agency officer boasts that Allianz is the biggest German company in the world operating in around 80 countries aside from being a top insurance firm.
Allianz serves 90 million customers worldwide.
Ellorenco said they enter Davao City due to its progress.
“We want to be the trusted and preferred company in Davao. We want to be of service to Davao and Southern Mindanao population,” he said.
The Davao branch is the second in Mindanao, after Cagayan de Oro branch which was inaugurated last week.
Ellorenco reported that they will also expand allover Mindanao.
“Next week, we will be opening the Butuan office. We are also now in Valencia, Bukidnon, we have operations in Surigao, and our next target is to expand in South Cotabato, and General Santos eventually,” he said.
Additionally, Noel Berdeprado, Regional Business Manager, equates their aggressiveness in expansion in the island to the business climate here.
“We are very aggressive right now in Mindanao. You see, this aggressiveness is because we have big competitors and we want to keep up with them taking into consideration that Allianz is the global leader in the insurance industry,” he said.
“The business climate in Mindanao, Davao in particular, is very promising. In the next five years, we might be probably at Metro Cebu or Metro Manila. We have seen so much real estate improvements recently,” he added.
With all industrial development happening, Berdeprado sees this as an opportunity for their company to come in.
“With this rapid progress, we can conclude that there is money in it. If people have money, insurance must come in. These people need retirement security in the future, education for their kids, and protection for their loved ones,” he said.
Ellorenco said their recently inaugurated office would be one of the few because they target to put up more next year should their agents population grow.
“In Davao, we want to end at 500 agents by the end of this year. Davao is a bigger city and the center of Mindanao so we want to be a preferred financial provider in this city,” he said.
Currently, there are 50 agents here.
Ellorenco also announced trip incentives as a reward top performing agents.
“We have quarterly trips to Bangkok, Malaysia and Singapore. We also have annual trips to our place of origin, to Munich, Germany. Any agent who will produce a certain amount of production will be entitled to visit the head office in Germany,” he said.