Skip to main content
  • Search
  • Home
  • Our Products
    • Protection
    • Health
    • Savings
    • Wellness Series
    • Insurance with investment
    • BPI AIA Direct
    • Partnership Insurance
    • Corporate Solutions
  • Key Moments
    • Building My Wealth
    • Getting Married
    • Becoming A Parent
    • Working Abroad
    • Planning For Retirement
    • Running A Business
  • About Us
    • Our People
    • Media Center
    • Corporate Governance
    • Our Commitments
    • Events & Promotions
    • Careers
    • Our Customer Charter
    • Our Internet Security Arrangement
  • Claims & Support
    • Contact Us
    • Contact Info Update
    • BPI AIA Funds
    • Payment Facilities
    • Benefit Payout Enrolment
    • Frequently Asked Questions
    • Claims Guide
    • Forms Library
    • Bill of Rights of Policyholders
  • Total Health Solution
    • Live Better
    • Get Better
    • Protect Better
    • My AIA PH
  • My BPI AIA
    • Bancassurance Portal
    • My AIA
    • REQUEST My AIA ACCESS
    • Bancassurance 101
BPI AIA
BPI AIA BPI AIA
  • Our Products

    Our Products

    Find a life insurance plan according to your needs

    SEE MORE

    For Individuals

    For Corporations

    • Protection

      Put yourself at ease by protecting those you love

    • Health

      Protect yourself from unforeseen medical costs and focus on getting better

    • Savings

      Make saving for the future within your reach

    • Wellness Series

      Protection solutions that reward your healthy choices

    • Insurance with investment

      Make the most out of your hard-earned money

    • BPI AIA Direct

      Affordable protection products readily available

    • Partnership Insurance

      Affordable insurance to protect yourself and your family

    • Corporate Solutions

      Protect your company's best assets

  • Key Moments

    Key Moments

    Where are you in life's key stages?

    VIEW ALL KEY MOMENTS
    • Building My Wealth

      Setting yourself up for success

    • Getting Married

      Embark on a beautiful journey as husband and wife

    • Becoming A Parent

      Preparing your child's future

    • Working Abroad

      Setting aside in order to come home for good

    • Planning For Retirement

      Having time to do things that you have always wanted to do

    • Running A Business

      Take care of your most important asset

  • About Us

    About Us

    BPI AIA is a partnership of financial icons

    Know more
    • Our People

      The foundation of our success

    • Media Center

      News and information about BPI AIA

    • Corporate Governance

      ASEAN Corporate Governance Scorecards

    • Our Commitments

      Partnerships and community initiatives

    • Events & Promotions

      Here’s what’s happening in BPI AIA

    • Careers

      Explore opportunities to bring real ambition to life

    • Our Customer Charter

      This is our commitment to you.

    • Our Internet Security Arrangement

      Safeguarding your data.

  • Claims & Support

    Claims & Support

    We strive to provide the best service for our customers

    Contact BPI AIA
    • Contact Us

      Cannot find the answer in our FAQ section? Contact us now

    • Contact Info Update

      Easily update your contact information with us to receive timely updates on your policy.

    • BPI AIA Funds

      BPI AIA and Ayala Life Funds Information

    • Payment Facilities

      We make it easy to pay your premium. Choose the best payment option for you.

    • Benefit Payout Enrolment

      Receive your benefits via our convenient payout options.

    • Frequently Asked Questions

      Have a question? You may find the answer here

    • Claims Guide

    • Forms Library

      A selection of forms you can download, fill in and send back to us

    • Bill of Rights of Policyholders

      The Bill of Rights details an insurer's obligations to consumers to better protect policyholders.

  • Total Health Solution

    Total Health Solution

    • Live Better

      Enjoy a healthier, better, longer life with AIA Vitality.

    • Get Better

      Be on the road to full recovery with access to health care services.

    • Protect Better

      Be better protected against life's uncertainties so you can live worry-free.

    • My AIA PH

      Welcome to My AIA! It's your new all-in-one customer portal for your policy, health and wellness needs. Login and try it today!

  • My BPI AIA

    My BPI AIA

    Access your BPI AIA accounts

    • CUSTOMER

      My AIA

      View the status of your policy & claim requests, monitor your policy’s account values, and keep tabs of your payments & benefits history.

    • BSE

      Bancassurance Portal

    • Bancassurance 101

      BPI AIA is the number one bancassurance company in the Philippines. Find an affordable life insurance product in 800+ BPI branches nationwide.

  • Search
  • Contact Us
    • Call Us

      Open: 8am to 5pm, Mon - Fri

    • Leave Us a Message

Finance and Insurance
Prev | Next
Back to Top
  • {{title}}

    {{label}}
  • Strategies for Business Survival in the Coronavirus Crisis

    08 June 2020


    Strategies for Business Survival in the Coronavirus Crisis Banner

    The current coronavirus crisis has led to massive changes in the way Filipinos live their daily lives, from the enactment of the Enhanced Community Quarantine to the suspension of all forms of public transportation.

    With these limitations, businesses in Metro Manila are struggling in the face of the “new normal.” On a larger scale, the government will need to assist the 7 million “no-work no-pay” workers in Luzon, where many of the cities in quarantine are located. Meanwhile, industries like business process outsourcing (BPO) are anticipating an accelerated shift to automated services due to the crisis’ impact on staffing.

    Small and medium businesses are also taking a hit. With the quarantine and the crippled transportation situation, many are compelled to pause operations, resulting in a lack of day-to-day income. It has become clear that businesses need to take action to survive during this quarantine period and stay operational after it is lifted.

    Strategies to Help Weather the Coronavirus Pandemic

    1. Create a business continuity plan

      A business continuity plan (BCP) is a comprehensive plan that details the steps your company should take in the event of a crisis. Effective BCP can minimize friction in adapting to the changing circumstances.

      Your protocols should also be grounded in recent learnings, changes, and circumstances that the company has navigated through. In creating this plan, you will need to cover the following concerns:

      - Securing your supply and production chain
      - Protecting your employees
      - Addressing any financial needs
      - Ensuring business operations during and after the crisis

      Alongside your BCP, an Emergency Preparedness team should be in close coordination to follow the situation as it develops and act accordingly. Using available data and information allows for a more objective and data-driven approach, which can maximize your efforts.

    2. Adopt a work-from-home policy

      In the wake of this public health crisis, it is highly unlikely that mass transportation will return to its previous level of frequency and accessibility. To adjust to the “new normal,” a remote work or work-from-home policy should be implemented, if not finalized.

      This policy should cover eligibility, remote work procedures, project management, and guidelines for timekeeping and task-tracking. Depending on the nature of your business, you may need to make provisions for work involving special equipment or presence-based work like client servicing.

      Once this policy is set in place, ensure that these changes are properly communicated to affected employees. If there are problems with the setup, open a channel for feedback and make the necessary adjustments.

    3. Stay on top of the latest news

      As more information is released on the current situation, circumstances can change rapidly at any time. Your company must keep a close eye on incoming information to implement appropriate measures accordingly. This means staying updated with the latest news, as well as paying attention to multiple expert opinions and vetting information.

      You need to provide relevant updates in an organized and concise manner to your employees to frame the situation and management’s decisions better. Send out regular communication with a summary of facts and implications to operations will give much-needed context and avoid any possible friction.

    4. Reassure your stakeholders

      No business would survive without its customers and stakeholders, which is why they should be aware of any changes your company will undergo in light of the situation.

      Create a thoughtfully-worded email or statement for your customer base, stakeholders, and the general public. Aside from notifying them of any significant changes that affect your business operation hours and availability, your message should foster trust and reassurance of the company’s service.

    5. Keep your employees in mind

      Employees are the backbone of any business, and it’s crucial to ensure their well-being during and after the crisis. Aside from securing their health and safety, fostering trust and understanding during these uncertain times can go a long way in helping your business stay up and running.

      Regularly update and communicate with your employees regarding the changes the company has made in light of the crisis. Being transparent about the company’s status and how it affects both them and the business can help manage expectations and avoid misunderstandings.

      Consider opening lines of communication between HR and the employees for them to air out their concerns and address them promptly.

      Additionally, purchasing business insurance plans lets companies provide a safety net for their workers, especially in the face of the novel coronavirus pandemic. Some plans allow for customization that addresses both your company and employees’ needs better, such as health insurance coverage.

    6. Re-evaluate your business status

      While previous risk assessments or standard procedures may have worked pre-crisis, they may no longer be suitable or effective. Given how rapidly the situation is changing, it is necessary to evaluate your business status regularly. Otherwise, any measure you have in place will not be as effective.

      Keep a close eye on your day-to-day operations and your cash flow. Take note of any risk your current operations may face, as well as any financial obligations. Communicate with your suppliers and negotiate for adjustments, if necessary. Seize opportunities like government relief, rent or tax freezes, and stalled payments to stabilize your cash flow.

    7. Explore new opportunities for business operations

      Your business’ nature may need to change. After adapting to regulations and boundaries due to the quarantine, expect to make more changes soon, this time in light of the “new normal.” Explore the possibilities of delivering your goods and services through different means or change the focus of your transactions from storefronts to online platforms.

    Conclusion

    To survive the COVID-19 crisis, it’s clear that businesses need to adapt their systems to accommodate the major changes in daily living. Paying closer attention to the developing national situation to making strategic, data-driven decisions that prioritize both your employees and your business will help your chances of survival during and after the crisis.

    For financial and health solutions that work, consult with our Corporation Solutions Specialist today.

    Did you know?

    You can buy a life insurance at any BPI branch nationwide! Talk to a bancassurance sales executive now!

    RECOMMENDED PRODUCTS

    Life Ready Plus

    Protection

    Get the power to protect yourself and your family with an affordable life insurance plan. Life Ready Plus is easy on the budget, but offers coverage of up to 30 times your yearly payment to support the financial needs of your loved ones.

    The plan gives you fast access to coverage and benefits and can match your long-term financial goals when maintained within an appropriate term.

    Philam Life Vitality

    Critical Care Max

    Health

    Critical Care Max will help you make more memories by providing financial aid during the early stages of a critical illness. This unit-linked life and health insurance plan offers assistance on your recovery. You can build a health fund that grows over time, depending on your chosen investment, to pay for other medical costs.

     

    In addition, it comes with a hospital confinement benefit that will replace lost income due to hospitalization. This daily cash benefit may also come with optional benefits like cash payout for surgery-related expenses, allowance for consultation fees, and many others.

    Philam Life Vitality

    Build Estate Plus

    Life Protection

    Let your loved ones enjoy the fruits of your labor even when you’re no longer around. Build Estate Plus is a unit-linked protection plan that will cover your estate taxes after your passing so that you can ease your family’s burden.

    It doubles as an investment savings fund that builds Account Value as you pay. It is also integrated with AIA Vitality that provides additional upfront coverage of 20% to your policy and add-ons.

    Philam Life Vitality

    CRITICAL CARE PLUS

    Health

    Be in good hands in times of sickness. Let Critical Care Plus, a unit-linked health and life insurance plan, take care of you with financial aid in case of a major illness, so you can focus on getting better and spending more time with your loved ones.

     

    It even gives you more benefits for having good health through the AIA Vitality program that adds 20% upfront coverage and supplemental benefits on your policy. 

     

     

    Philam Life Vitality
    Newsletter

    CONTACT BPI AIA

    (02) 8 528 5501

    FACEBOOK MESSENGER

    15th Floor BPI-Philam Life Makati (formerly Ayala-FGU Bldg) 6811 Ayala Avenue Makati City 1226

    CONTACT BPI AIA

    (02) 8 528 5501

    FACEBOOK MESSENGER

    15th Floor BPI-Philam Life Makati (formerly Ayala-FGU Bldg) 6811 Ayala Avenue Makati City 1226

    GO TO

    AIA Philippines

     

    BPI

     

    AIA.COM

      

    Explore BPI AIA

    Our Products

    Key Moments

    About BPI AIA

    Who we are

    Our People

    Media Center

    Careers

    GO TO

    AIA Philippines

     

    BPI

     

    AIA.COM

    Learn more about AIA Group

    EXPLORE BPI AIA

    Our Products

    Key Moments

     

     

    ABOUT BPI AIA

    Who we are

    Our People

    Media Center

    Careers


    Copyright 2016. AIA Group and its subsidiaries. All rights reserved.
    Terms of Use | Privacy Statement | Cookie Policy

    This website uses cookies for the purpose of enhancing your user experience. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our Cookie Policy and Privacy Statement.