Niche insurance comes of age

MANILA, Philippines - A study conducted a few years ago by UCPB Gen, one of the largest and strongest non-life insurance companies in the country today, stated what many have always known – that lady drivers are safer drivers.

This sparked an idea among the marketing whizzes at UCPB Gen to tap the largely unserved market of woman motorists and give them a product exclusive to them. Pink Wheels was thus born last year.

“Basically, this is what they get for being careful drivers,” says Mia Yabut, Pink Wheels general manager.

Pink Wheels is backed by the 46-year old UCPB General, which boasts of a high credibility ranking of sixth among more than a hundred insurance companies in the Philippines.

Pink Wheels ‘’rewards’’ the good record of lady drivers by giving them a product purely designed for them. It answers the needs of woman motorists at a lower premium rate, including courtesy cars, LTO registration assistance, and motoring assistance needs (813-PINK.) Serving more than the purpose of insurance, Pink Wheels also creates a lifestyle offering a plus factor: PINK Club that can be used daily, and a Rescue Club to immediately and effectively assist members during a road misfortune 24/7.

Yabut admits that targeting a segmented market in the car insurance industry is not easy. On top of Pink Wheels target market profile are established, career women and ‘’fabulous’’ moms. Nevertheless, Pink Wheels is positively working on reaching about 2000 members for this year.