Tag: Moneymax

Manila, Philippines – Digital life insurer Singlife Philippines and personal finance marketplace Moneymax has announced their collaboration to make the first-ever Philippine mobile life insurance app through the launching of the ‘Singlife Plan & Protect’ app.

The app enables users to build an emergency fund with a high-interest account, access a guided financial planning tool, and buy customizable life insurance & investment products.

The newly formed partnership is the first of its kind for both digital platforms. For Moneymax, it marks the launch of its life insurance offering in addition to its travel and fire insurance pages, which were launched earlier this year. On the other hand, Singlife will be leveraging its platform to provide fuss-free financial solutions that in the past were only available through traditional means.

Commenting on the app launch, Rien Hermans, CEO of Singlife Philippines, said, “Unexpected life events—such as disability or even death of the family breadwinner, or serious illnesses within the family—can drain a lifetime’s worth of savings and even worse, confront families with a high, hard-to-pay-back debt.”

“For the Juans and Marias of today who work hard and plan to achieve their goals, we want to empower them—with the help of Moneymax—to take control of their hard-earned money. The Singlife Plan & Protect App can guide them through taking proactive steps to make sure they will always have money when they need it”, he added. 

Meanwhile, Prashant Aggarwal, CEO of MoneyHero Group, commented, “Through our strategic partnership with Singlife, we strengthen our commitment to expanding our offers and increasing awareness of digital insurance in the country. Moneymax and Singlife share the same mission of helping customers find financial products that best match their needs and budget, which is what this partnership is all about.”

Jessica Faye Tan, the head of marketing at Moneymax, has been named as one of the winners of ‘Empowered Women in Marketing’ category at MARKETECH APAC’s inaugural recognition initiative for women leaders in the industry, Empowered Women Awards 2023.

Tan has been with Moneymax for over three years, starting off as a campaign manager in 2019. She slowly went up the ranks, starting from heading the company’s campaigns, growth, and later on in marketing. Prior to joining Moneymax, she also had experience working for companies such as PurpleClick and Divergent Media.

Being at the forefront of pivoting brand focus

As startups navigate an economically challenging environment, most companies have shifted focus to growing profits instead of revenue. The same is the case for Moneymax, who is one of the largest financial service marketplaces in the Philippines.

For Tan, in order to grow the company’s profitability, they shifted to implementing campaigns as well as fostering and facilitating seamless internal collaboration and synergies. This resulted in more Filipinos getting approved for a banking product as well as aiding them by providing them with financial literacy content and advice. 

Moreover, under Tan’s leadership, Moneymax has become the third contributing market for digital finance company portfolio MoneyHero Group, to which Moneymax is part of.

A journey of an emphatic leader through encouragement and empowerment

Tan joined Moneymax in 2019 where she first spearheaded the planning and execution of Moneymax’s reward campaigns. And she did not stop there: she also helped in filling the gaps and holes in the company’s business operations to ensure the success of every campaign. These include creating all the processes required from the ground up, planning and forecasting, implementation, gift procurement and fulfilment, and even customer servicing. 

She was then promoted to various roles in just a span of two years within the company and continues to rapidly upskill herself to be able to manage and guide her growing team and scope.

Lastly, she prides herself on being an empathic leader who encourages learning and growth within her team and fosters a culture that is psychologically safe. She also makes sure to spend a lot of time teaching and training her team members to be capable, independent managers.

Maintaining leadership alignment amidst restructuring

Moneymax went through a major restructuring in 2022, pushing Tan to manage the company’s presence in the Philippines. Its local business also underwent restructuring to ensure all departments and stakeholders are aligned, especially with the refocus to maximise profit.

With this restructuring in mind, Tan also exerted additional efforts in ensuring that new processes are identified and set in place to ensure that the entire market is working towards the same goal and direction.

Moreover, she also restructured the marketing team, setting it up for scale. During the restructuring, no resignations were rendered as the new setup also took into consideration existing members’ strengths and career progression. 

Lastly, new quality standards and targets were set coupled with streamlined processes to ensure that the team can deliver maximum output without sacrificing quality of work. 

“Empowered women ignite brilliance, uplift their team, and together conquer every challenge, painting the canvas of success with unity and determination,” she said.

Check out who else made it to Empowered Women Awards 2023 Winners’ list.