Josefina M. Salvador, President and Chief Executive Officer of Liberty Insurance Corporation, says LIC is a non-life insurance entity that
adheres to leadership, integrity, and commitment. It has been in existence in the Philippines since 1953. The company has been serving a wide range of clientele from mothers, household helpers, pet owners, and their pet dogs or cats, bikers and their bikes, entrepreneurs, travelers, contractors, motor fleet owners, medium-scale manufacturers to even large industrial concerns as its employees are dedicated to pursue world-class service in providing utmost security, thus making LIC emerging as a model in the market the company serves and in the industry where they belong. It ensures a mutually beneficial partnership between and among the men and women they work with, says Salvador, a Certified Public Accountant who has been working for the Company since 1985. She has been a living witness to LIC’s distinction for being a trusted partner in the non-life insurance industry.
Being a CPA among LIC’s key officers has helped the Company become more knowledgeable about its bottom line and has assisted in making it well-organized and focused on managing uncertainties.
“As a CPA, I am trained to observe deadlines, such as in preparing and submitting on-time books of accounts, financial statements, and especially those being required by the regulatory bodies. The correlation of numbers is meaningful to me for numbers would tell me if something is right or wrong. Because of the work attitude that I acquired, I am able to thrive in a very stressful environment. It guided me on what direction to take. But there are occasions we cannot avoid, there are deviations from the normal things that we do,” elucidates Salvador. She continues: “LIC is born out of the requirement of a bank. It was considered a good She continues: “LIC is born out of the requirement of a bank. It was considered a good opportunity for the owners who used to own a bank. Through the years, it has distinguished its presence in the domestic niche and stays ahead of competitors through sound and conservative underwriting practices.”
The LIC’s products and services manifest its tireless passion and unwavering commitment to its target clientele. This non-life insurance company offers the following products: motor car and property insurance; CGL (comprehensive general liability); engineering; marine; personal accident; property floater insurance; cybercrime insurance; and bonds/suretyship. It also offers, says Salvador, various PA-based products such as Rider Pal; PayAssure; Liberty moms; terminal illness COVID-19 insurance; travel assistance; kasambahay insurance. Lastly is the MePets insurance which covers personal accident insurance for humans and pets (dogs or cats) together under one policy. “You may say this is an out-of-the-box, and challenging, idea, but pets are family,” says CEO Salvador, a mother to four bright, grown-up children who are all professionals. “After all, pets make things more fun and bright when they are around, so it is just as right to keep them protected when they need it most.”
A non-life coverage is a necessity, she says, reiterating that in the case of health insurance, for instance, financial help is provided at the
time of a medical emergency. As to how having an effective corporate social responsibility (CSR) program contributes positively to all stakeholders and to the organization itself, she says that this is one way a company has to give back to society the blessings it has reaped through the years – to integrating social and environmental concerns in their business operations and interactions with their stakeholders instead of only considering economic profits. They do regular medical missions and gift-givings to orphanages, accept requests from other
organizations, and encourage employees to participate in outreach activities in the provinces. So, its CSR philosophy is to extend its hand to our less fortunate brethren in the best way it can muster.
Withperceptive foresight andprudentguidance, the Company now enjoys a healthy state of long-term stability and steady growth. Thanks to the wonders of technology, especially during the COVID-19 pandemic days, LIC has survived as what in the insurance world calls “the last man standing”, the survivor of a battle when everybody else has fallen. Further, LIC believes in building strong partnerships for mutual growth, which is why it consistently takes time to provide personalized attention and only gives honest information and advice to each of its clients. “Our solid corporate values and good business ethics are what guide us as committed and responsible partners. We look after the welfare of our policyholders by providing compensation for property losses and a high degree of efficiency in honoring our commitment to clients,” says Salvador with a sweet, wide smile.
