Business & Technology

EastWest Bank, Ageas steadily build local insurtech Troo

Dominik Smeets, Hans Loozekoot, Antonio C. Moncupa Jr, Jesus Roberto S. Reyes

Dominik Smeets, Hans Loozekoot, Antonio C. Moncupa Jr, Jesus Roberto S. Reyes

EastWest Bank and Ageas celebrate the 4th anniversary of their joint venture in the Philippines. This partnership operates under the brand name Troo, which offers life insurance to customers of EastWest Bank and Filinvest Group.

“From the start, Troo has been embracing the latest technology and digital solutions as a core of its daily business,” Troo president and CEO Hans Loozekoot said. “We are the first insurance company in the world to put in place its end-to-end integrated IT platform in the cloud. This enables us to offer our customers a seamless experience and optimize our operations.”

“Bancassurance is a key pillar of our growth strategy,” EastWest Bank vice chairman and CEO Antonio C. Moncupa, Jr. stated. “We now offer a complete menu of financial services to every Filipino whatever their needs may be.”

Soon, Troo will launch its innovative GoTroo customer engagement platform. According to Loozekoot, GoTroo is integrated with their back-end systems.

GoTroo is a mobile-first platform that is being developed by Troo’s agile team, EastWest president and deputy CEO Jesus Roberto S. Reyes said. He added, “Troo is becoming an important contributor to the bank’s fee income.”

“It will give customers access to real-time information on their Troo policy,” Loozekoot said of GoTroo. “Additional innovative functionalities of the platform such as voice recognition for login and chat features are underway.”

“To mark the anniversary, we’re launching Troo BuildWealth Limited Pay,” Troo chief strategy and business development officer Dominik Smeets pointed out, “Other exciting products are also in the making.”

BuildWealth Limited Pay is the latest variable unit-linked (VUL) product from Troo. It is the first real limited pay VUL in the country and it gives customers choices for their payment period whether it is 3, 5, 7 or 10 years.

BuildWealth Limited Pay is the third option in the VUL suite of solutions, “Grow your wealth, your way.” Like the other two solutions, it combines life insurance with investment options and this new insurance solution will further boost growth for Troo to become a top 10 life insurance player in the coming years.

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