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Oona Insurance and UnionBank Financial Services (UFSI) have partnered to provide non-life insurance solutions to UnionBank Wealth Management clients. Announced on January 25, 2024, the collaboration gives high net worth clients access to Oona's tailored digital insurance platforms, enhancing financial protection for their assets. This partnership strengthens Oona's industry position and complements UFSI's wealth management services by offering seamless, secure insurance solutions.
Oona Insurance (Oona), the leading general insurer in Southeast Asia, and UnionBank Financial Services and Insurance Brokerage Inc. (UFSI) have agreed to partner and provide non-life insurance solutions to UnionBank Wealth Management clients in a simple ceremony held on January 25, 2024.
The partnership will allow UnionBank’s high net worth clients to access Oona’s digital platforms curated specifically for UFSI clients, enabling both companies to scale up their existing portfolios.
The collaboration, chaired and witnessed by Manoj Varma, UnionBank’s Head for Consumer Banking; Gautam Sharma, UnionBank’s Head for Wealth Sales and Distribution; and Abishek Bhatia, Founder and Group CEO Oona Insurance, is expected to lead to more awareness and appreciation of the importance of non-life insurance and to encourage better financial protection for UFSI clients and their assets.
Furthermore, it complements the expert and proven wealth management services provided by UFSI.
“As a wealth management brokerage company, we are custodians of our clients’ financial dreams. Part of our responsibility is to help them sustainably grow and protect their wealth. Oona offers a wide range of general insurance solutions including Travel, Personal Accident, Property and Motor. This will allow UFSI to not only protect the lives of our clients but also the assets that they have worked so hard to accumulate. Through Oona, we can also help our clients feel safe and protected when they travel for work or leisure,” said Ramon Melchor Tejero, UFSI President and Chief Executive Officer.
For Oona, on the other hand, its latest collaboration with the country’s multi-awarded universal bank further strengthens its reputation as a game changer in the industry.
It is a testament that its digital platforms are working to ensure accessibility, affordability and seamless experiences for its clients.
“We are excited as we embark on a dynamic partnership that means the union of shared goals, commitment to mutual growth, synergizing strengths and innovation. As we provide non-life insurance to UFSI’s wealth segment, we are committed to delivering unparalleled innovative services as well as customer-centric solutions that will elevate the non-life insurance experience of UFSI’s clients,” said Ramon Zandueta, Oona Insurance Philippines President and Chief Executive Officer.
Zandueta also added that high net worth clients have particular needs that have high insurance values leading to bigger premium accounts.
By providing specific solutions, the agreement with UFSI will solidify Oona’s position in the country’s competitive financial landscape.
Aside from a seamless experience, Oona’s collaboration with UFSI also ensures utmost security and protection of the customers’ personal and financial information.
