I currently sit on the board of Insular Health Care, Inc. (IHC). I accepted the position almost three years after I had left my post as the Insurance Commissioner, the principal regulator of the HMOs in the country, in 2016. A year before, then President Benigno Aquino III transferred the regulation and supervision of the HMO industry from the Department of Health to the Insurance Commission by virtue of Executive Order 192 signed on November 12, 2015. Since the Department of Health was not a financial regulator, there was hardly any regulation of the HMO industry. There were widespread complaints of fraud and other deceptive practices, which had tarnished the reputation of the industry. The EO, among others, was issued to ensure that industry players are adequately capitalized, duly registered and licensed and that every HMO is solvent to meet the claims of its members and other liabilities. The HMO industry is imbued with public interest and its conduct of business and operations must be strictly regulated and supervised to guarantee the protection of its members.
At no time is the critical role of the HMO industry placed to an acid test than during this period of pandemic. Many industries are essential but the HMOs as a frontline organization to safeguard the health of their covered members is unique. While an epidemic or pandemic is expressly excluded in the typical HMO contract of coverage, practically the industry has voluntarily covered Covid-19 illness and deaths mostly on ex-gratia basis out of a sense of moral obligation, goodwill or humanitarian grounds. Even under the most difficult circumstances, HMO employees, particularly those involved in claims processing, work around the clock to resolve cases without any undue delay. Since the pandemic erupted there has been an increase in out-patient consultations and the practice of telemedicine has gained substantially resulting in higher utilization of services. There is no question that the Philippine HMO industry has finally arrived and is now considered as a solid and dependable partner in securing the health and medical care of our people. Congratulations to the Association of Health Maintenance Organization of the Philippines and all other industry players who are non-members of the association.
IHC is the Health Maintenance Organization (HMO) subsidiary of Insular Life. It is one of the Philippines’ most innovative and fastest growing HMOs providing healthcare coverage to individuals and families and to employees of MSMEs and companies through employer sponsored plans. In 2020 alone, there were two major disruptive events that had severe impact on public health and the economy—the Taal Volcano eruption and the coronavirus pandemic. As in the past catastrophes, IHC has adequately responded to them. In confronting the pandemic, its digital capabilities came to the fore and thanks to the vision of its leaders that had embarked on digital transformation three years ago. Led by two formidable women who are champions of gender equality, Ms. Nina Aguas, Chairman of IHC, and Ms. Maria Noemi Azura, President & CEO of IHC, the company decided that technology will be an important element of its growth strategy. It modernized its core system, which allows IHC uninterrupted client service to its members and customers and assures business continuity during the extended lockdown. IHC’s services are readily available at a time when they are needed the most. Stable and reliable healthcare service delivery is very critical during this time of pandemic and IHC has not failed the HMO community. Its wide network of digital customer service channels includes telehealth service, call center and payment portal with extensive partner network. Through its Customer Experience Dashboard, IHC regularly measures and monitors its service levels to guarantee that quality service is maintained throughout this difficult period.
Noting its resilient and sustainable response to the pandemic, the International Finance Corporation has featured IHC and Ms. Azura on their Facebook and LinkedIn pages in May this year. It highlighted how leaders can effectively cope with overwhelming change and challenges. It was followed by the Asia CEO Awards Circle of Excellence for Executive Leadership Team of the Year given this October. Only last month, IHC won the Inspirational Brand of the Year Award in the Healthcare, Pharmaceutical and Biotechnology Industry at the Asia Pacific Enterprise Awards, based in Singapore and Malaysia. These accolades demonstrate that a Filipino company can exceed customers’ expectations and excel in a highly competitive healthcare industry. Ms. Azura’s solid track record in business transformation, sales and distribution, audit and compliance in banking and managed care has served her in good stead. She held senior leadership roles at Citibank, American Express and Australia New Zealand Bank, which brought her job assignments abroad. Expect more from this remarkable lady who copped the Distinguished Alumna Award for 2018 from the UP Virata School of Business.
Another prominent and extraordinary woman, Chairman Nina Aguas admitted in her Christmas message to the Insular Life and IHC employees and agency forces that 2020 “is a year of overwhelming challenges and not one for the faint-hearted. What is not lost on me is how many were asked to share their jobs, for reduced pay or completely lost their jobs and livelihood as businesses closed… We continue to lead and defend Insular Life and our businesses in the face of an economic contraction and financial strain that all businesses face not just in our country but globally…. Generating profit is of course important…but our purpose does not end there…. Our focus is on the difference we make in the broader society. Especially, at a time like this.”
Yes, the IHC and the entire HMO industry have valiantly answered the call to ease the pain and suffering of our people amid this unprecedented health crisis. I’m certain that our grateful nation shall not forget the HMOs’ invaluable services to the Filipinos at this critical juncture of our history.