BPI-Philam Life Assurance targets BPO workers, millennials

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The lifestyle of business process outsourcing (BPO) workers and young professionals can be damaging to health, as it often requires working at night, resulting in lack of sleep and exercise. Consequently BPI-Philam Life Assurance Corp CEO Surendra Menon plans to introduce insurance coverage that will specifically service this consumer segment. Menon expressed his concern over the growing number of young call center agents and millennials dying in their early 30s because of heart attacks or strokes, saying young Filipinos need to better understand the concepts of insurance, and few other countries have so many young people dying due to heart problems. He said that close to 100 percent of the population in advanced countries such as Singapore are insured, but in the Philippines insurance penetration was below 50% last year, according to data from the Philippines Insurance Commission.

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