Cebuana Lhuillier rolls out 1st batch of mobile branches-A A +A
Thursday, January 16, 2014
CEBUANA Lhuillier broke new ground in the microfinancial industry when it rolled out its first batch of mobile branches in 2013, the first of its kind in the Philippines.
Dubbed Cebuana Lhuillier on Wheels (CoW), the program brings the company’s products and services more accessible to more Filipinos, going around cities and villages all over the Philippines where clients can do their transactions—pawning, remittance, micro insurance—wherever they may be.
“The CoW is an unprecedented development for the microfinance industry. We pioneered this system of doing business because, having gone around to different towns in the Philippines, we saw the need of the people, especially in the low-income and vulnerable sectors of the country, for access to micro lending facilities and other microfinancial products. This demographic represents a big percentage of Filipinos who are working hard and making do with their limited resources to provide for their families,” said Cebuana Lhuillier’s President and CEO Jean Henri Lhuillier.
“This service also enables the low-income market to maximize their time and resources by eliminating the need to travel to our branches, the costs of which can eat up a portion of their meager budgets. Instead of them going to us, we are the ones to go to them,” he said.
The CoW was initially launched last September as the Microinsurance on Wheels, which aimed to reach people in far-flung villages to inform them about the importance of getting insurance coverage, and to introduce Cebuana Lhuillier’s innovative and affordable insurance packages.
The CoW has been to different barangays in Metro Manila, Laguna, Pampanga, Pangasinan, Cebu, Iloilo, and Davao.
“And we plan to go farther and further this year. The Cebuana Lhuillier brand has been associated with quality and innovative products and services for years, and we intend to keep offering the best to our clients, whether in our branches or virtually at their doorsteps. This is the Cebuana way,” Lhuillier said. (PR)
Published in the Sun.Star Cebu newspaper on January 17, 2014.