UBX, the leading open finance platform in the Philippines, and MaxiLife, the Philippines’ newest Life and Health Insurance Company, have entered into a strategic partnership to develop cutting-edge, technology-driven products and services that will revolutionize the experience of MaxiLife customers.
Under the partnership, MaxiLife will leverage UBX’s verticals BUx, an end-to-end payment solutions platform, and Splix, a transact-now-pay-later platform, to offer its policyholders flexible and convenient ways to settle their premiums.
With over 60,000 payment channels powered by UBX nationwide, MaxiLife customers now have various options to pay for their policies: Over the counter, online banking, e-wallets, and debit/credit cards. Thanks to the partnership, policyholders can also pay their premiums on an installment basis soon – with or without credit cards.
“Health is one of the primary concerns of every Filipino, which means that making insurance more accessible is part and parcel of our mission of promoting true inclusion. With UBX, MaxiLife can leverage digital technologies to improve customer experience, encouraging more Pinoys to avail of insurance,” UBX President John Januszczak said.
As the Philippines’ leading all-in-one payment solutions platform operated by UBX, BUx unifies into one solution everything from payment channels to card payments, bank transfers, over-the-counter payments, to e-wallets. With BUx, users can also track paid and pending payments, download payment summaries, and receive real-time notifications of funds credited through its best-in-class dashboard.
Splix, on the other hand, is the transact-now-pay-later platform of UBX. Splix empowers its clients to offer flexible payment options to their customers.
Recently formed by the Gokongwei Group, Pin-An Holdings, and Maxicare, MaxiLife is a comprehensive life insurance company that offers new innovations in customer experience, affordability, and availability.
“By having MaxiLife in our roster of partner insurance companies, we are setting an example for more insurance companies to go down a similar path. Insurance has always been considered inaccessible in the Philippines but with each strategic partnership with UBX, the insurance industry is closer to turning the tables for the better,” Januszczak said.
In addition to enhancing MaxiLife’s premium payment process and streamlining the customer journey, UBX plans to leverage its expertise in e-commerce and mobile platforms to further enhance the insurance company’s digital offerings in the near future.
“We are committed to delivering innovative and convenient solutions that will set new standards in the industry. We do this by going beyond digitalizing financial transactions for insurance companies and their customers. Providing access has always been the ultimate goal in order to improve the quality of life of Filipinos across the archipelago,” Januszczak said.