Philamlife, Security Bank subsidiary forge alliance

Philam Life Insurance Co., Philam Care Health Systems Inc., Philam Plans Inc., and Philam Insurance Company, Inc., all member companies of the Philam Group have made official arrangements to use Security DigiBanker, the country’s first suite of fully Internet-based corporate cash management solutions.

Security DigiBanker is the foremost among several financial e-services offered by Security Bank Corp., and has a following of more than 100 customers among the top Philippine corporations.

Philam Life, the flagship company of the Philam Group, is the largest life insurance company in the country, controlling 27-percent share of the market. It has over a million individual and group policyholders and the most extensive network of more than 200 offices all over the country, as well as the most comprehensive range of life insurance products/services and diversified financial services.

Philam Care Health Systems Inc. is the leading health maintenance organization (HMO) in the Philippines. Its alliance with United Health Care, voted by Forbes Magazine as one of America’s most admired healthcare companies for four straight years, brings more than 25 years of acknowledged expertise and remarkable experience in managed care.

Philam Plans Inc. is the third biggest pre-need company in the Philippines, having a branch network that covers 66 provinces. Its pre-need product line includes pension, education, and life memorial services.

Philam Insurance Co. Inc. is the subsidiary of the Philam Group of Companies, which specializes in non-life insurance (i.e. accident and health, personalities lines, property and energy, casualty, fidelity, directors and officers liability, surety bonds, and marine insurance). It ranks fifth in gross premiums written and first in net worth among the top 10 non-life companies in the Philippines.

DigiBanker will allow the Philam Group subsidiaries to monitor cash balances in real time, manage payroll and agent commissions, outsource large volumes of check preparation and releasing, enter into automatic debit arrangement with its policy/pre-need plan holders, and instantly credit payments to suppliers, all with the point-and-click convenience of the Internet.

Users will be able to create, review, and authorize transactions based on pre-defined roles and transaction amounts from the comfort of any Internet-enabled terminal in the world, providing company executives with unprecedented mobility.