Sun Life Grepa Financial, Inc. (Sun Life Grepa), a major insurer in the country recently forged an agreement with WeFund Lending Corporation (WeFund) to provide Group Credit Life Insurance Policy through WeFund’s Fintech app or financial technology platform, JuanHand.
The loan protection program will cover WeFund members by paying the borrower’s outstanding loans in case of untimely demise to help lessen the financial hardship of loved ones.
“This strategic partnership really gives excitement to all of us in Sun Life Grepa. As the Philippines moves towards financial inclusion, digital transformation and innovation, we are opening a window of opportunity with this partnership and we believe that it will help bridge the gap in serving the financial and protection needs of Filipinos,” Sun Life Grepa President Richard S. Lim said.
“We thank Sun Life Grepa for making this happen. We decided to choose Sun Life Grepa because we only want to work with the best. Our company is really honored that Sun Life Grepa made the decision to partner with us because they really can add value to our organization and contribute to the betterment of Filipinos’ lives,” WeFund CEO Francisco “Coco” Mauricio said.
For his part, Sun Life Grepa Vice President and Head of Group Channel Peter M. Miranda offered a toast to a great partnership. “We look forward to collaborating on new plans and programs with WeFund as we work to bring this agreement to another level in the next few years,” Miranda said.
The agreement was signed by Sun Life Grepa President Mr. Lim and Vice President and Head of Group Channel Mr. Miranda together with WeFund CEO Mr. Mauricio.
JuanHand is one of the unique Fintech platforms in the Philippines powered by WeFund, a subsidiary of large Chinese Fintech company FinVolution Group (formerly Paipaidai or PPDAI Group) which is listed in the New York Stock Exchange, while Sun Life Grepa is a joint venture between Sun Life Philippines and the Yuchengco Group of Companies.