PJ Lhuillier Group of Companies - Most Innovative Company
Company: PJ Lhuillier Group of Companies, Makati City, Philippines
Company Description: Established in 1988, the PJ Lhuillier Group of Companies is a dynamic, multi-industry company that owns and operates businesses dealing with financial services such as pawning, remittance, microinsurance, and business to business micro loan solutions. We are the proud parent company of Cebuana Lhuillier, the Philippines’ leading and largest non-bank financial services provider.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Most Innovative Company of the Year - 2,500 or More Employees
Nomination Title: PJ Lhuillier Group of Companies
Tell the story about what this nominated organization has achieved since 1 January 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
In 2016, as financial inclusion has always been the goal of the company, Cebuana Lhuillier went through lengths, in various aspects, to make its products and services accessible by pursuing previously untapped markets and by adding a product line to cater to more needs of the people.
Recognizing the importance of financial education, Cebuana Lhuillier’s campaign kicked off with the launch of the Cebuana Lhuillier Financial Literacy Program that helps inform the public about proper management of finances whether it is for personal purposes or for their small, medium, or micro businesses.
Continuing its tradition of helping other well beyond its branches, Cebuana Lhuillier continued to provide support to sports and education. The company sponsored softball teams and tennis players and organized its own series of tournaments, in pursuit of discovering and developing Filipino athletes and training the country’s representatives in international competitions. It also expanded its network of Cebuana Lhuillier Learning Centers (under the Alternative Learning System) from 30 to 66, providing education to out-of-school youth and adults who would have otherwise no access to education. The company’s scholarship program also awarded 50 grants in 2016.
To break access and availability barriers, the company deployed mobile hubs—Cebuana Lhuillier on Wheels—all over the country to heighten awareness and provide easier access to quality and affordable financial products and services in far-flung areas.
Cebuana Lhuillier also reached 2,000 branches (from 1,700) spread across the Philippines. This is on top of the newly relocated and refurbished branch in Hong Kong, which serves almost 150,000 overseas Filipino workers in the territory. The increase in the number of branches is integral in the achievement of the company’s goal of financial inclusion as each Cebuana Lhuillier branch gives access to financial information and services to previously unserved and underserved communities.
Cebuana Lhuillier also joined PeraLINK—an innovative domestic money transfer service venture between various financial institutions in the country which allows inter-member remittance transactions among mutual clients.
With an established marketing office in Dubai, UAE, where a bulk of Filipino Overseas Workers are based, the company was able to acquire more partners in the Middle East.
Cebuana Lhuillier Marketing Services, Inc. (CLMSI) was established as the company’s business-to-business sales arm that offers partnerships and various microfinancial solutions to budding entrepreneurs, providing them with products and services fitted to their needs and capability.
The company also introduced a new line of microloans, further diversifying its product offerings, and presenting more options for financial solutions to Filipinos. Currently a fast-growing product line, Cebuana Lhuillier microloans are favored for the simple application process, easy terms and fewer requirements.
Cebuana Lhuillier also identified products—microinsurance and microloans—that could best penetrate and help the target audience. The microloan products have been tied to the company’s financial literacy program while a separate campaign (disaster resilience) was launched to push for the widespread utilization of microinsurance.
Cebuana Lhuillier mounted a disaster resilience forum that gathered stakeholders from the public and private sectors to discuss the importance of being financially secure in the face of impending calamities. The forum focused on the importance of collaboration and on the role of microinsurance in getting communities disaster-resilient. A road show was also held across the Philippines to cascade the key ideas and information gained from the event.
The company also launched the Cebuana Lhuillier SIM card; offered to micro entrepreneurs for free access to the Cebuana Lhuillier Android App that would enable the user to start a small mobile credit reloading and remittance business.
Cebuana Lhuillier also introduced the Alagang Cebuana Plus Gold, which offers personal accident insurance and fire cash assistance and an additional amount for micro-life coverage—essentially, a revamped version of its original flagship microinsurance product.
Cebuana Lhuillier established several lucrative partnerships including those with Globe Telecom, Skyjet Airlines, and SM Advantage, which paved the way to broaden the benefits enjoyed with its 24k rewards card.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2016 (up to 150 words).
-The financial literacy campaign reached 514 communities and attracted 19,069 participants where 16,950 learners successfully completed the course.
-The company developed and trained Filipino athletes and provided education to individuals with its sports and education initiatives.
-According to a report by Brookings Institution, the global ranking of the Philippines in providing digital and financial inclusion improved to sixth place this year from 15th last year.
-The company increased its number of branches from 1,700 to more than 2,000 and refurbished its branch in Hong Kong and opened a marketing office in Dubai.
-The microinsurance awareness events have attracted over 500 attendees and participants.
-PeraLink now has 34 members, adding of 3,730 new branches for Cebuana Lhuillier while the company’s SMEs and MSMEs partners reached 34,311.
-The Cebuana Lhuillier website has 2,298 visits every day while the mobile apps have 33,575 active users.
Of the following types of innovation, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2016?