Karen Custodia: Leading BPI AIA to new heights through innovation and customer-centricity  

Karen Custodia, Chief Executive Officer and Executive Director of BPI AIA Life Assurance Corporation, the joint venture of two leading financial companies in the Philippines: Bank of the Philippine Islands and AIA Philippines, formerly Philam Life, has been a driving force behind the company's success and its innovative, customer-first culture.

With over 28 years of experience in the insurance industry, Custodia's leadership has firmly established BPI AIA as a leader in the Philippine bancassurance sector.

A distinguished career path

Prior to taking the helm as CEO, Custodia skillfully served as Director of Partnership Distribution Sales Channels at BPI AIA for 4 years, effectively managing a large team across diverse distribution channels.

Her journey with BPI AIA began in 2013, when she held key leadership roles such as Head of Marketing and Head of In-Branch Sales, demonstrating her versatility and deep understanding of the business.

Custodia's extensive background also includes a significant role at an insurance broker company. She holds a degree in Psychology from De La Salle University, providing her with a unique perspective on understanding customer needs and behaviors.

Driving BPI AIA's success through people and innovation

Under Custodia's strategic leadership, BPI AIA achieved its position as the leading bancassurance company in the Philippines in 2024, a milestone on the heels of its seventh consecutive win as the Best Life Insurance Company at the prestigious World Finance Insurance Awards.

Custodia attributes this remarkable success to the unwavering dedication and passion of her team.

"BPI AIA's success in 2024 was driven by its people—their passion, agility, and commitment to putting customers first and working collaboratively with our bank partner BPI," she emphasizes.

"I am deeply grateful for our partnership with BPI, whose values and aspirations for Filipino families closely align with BPI AIA. Together, we are building a better everyday life and future for all Filipinos—one family, one community at a time. Over the years, BPI has consistently demonstrated strength, reliability, and a genuine dedication to empowering communities. Our collaboration has evolved into a purposeful alliance—one that continues to drive meaningful impact for the customers and communities we serve.”

In advancing BPI AIA’s goals toward fruition with her team, Custodia's leadership style is characterized by a strong emphasis on empowerment and collaboration.

"I like to focus on empowerment, collaboration, genuine care for our people, and being strongly guided by our purpose. By fostering trust and encouraging shared ownership, we've built a culture where individuals feel valued and inspired to contribute," she explains.

This approach has fostered a dynamic environment within BPI AIA. She finds it most rewarding to see her team grow, embracing challenges and stepping out of their comfort zones.

She notes, "Their courage to try new things in a highly competitive industry has been inspiring."

Championing digital transformation for enhanced customer service

Recognizing the transformative power of technology, Custodia has championed digital transformation to significantly enhance customer service and accessibility.

"Going all-in on digital wasn’t just a strategic pivot but also a commitment to better serve our clients," she states.

BPI AIA has launched digital platforms to help their sales force efficiently track and manage their sales activities, while streamlining the application process through intelligent recommendations that match clients with the products best suited for their unique financial needs.

Bancassurance Sales Executives can leverage these platforms to access product information and client materials instantly, enabling faster and clearer communication.

This shift to digital brings significant benefits to clients as well. They can now purchase life insurance conveniently online. Products like PamilyaProtect and InstaProtect offer affordable coverage that can be bought anytime, anywhere—providing flexibility and peace of mind.

These enhance accessibility and personalization, enabling BPI AIA to meet clients "digitally and emotionally," as Custodia aptly puts it.

Innovation for a secure future

Custodia defines innovation as the introduction of new solutions that create meaningful value and proactively anticipate client needs. "To me, it is the introduction of new solutions that create meaningful value," she says.

 "It’s not about novelty for novelty’s sake. It’s about progress."

BPI AIA is committed to using data and technology to continuously improve how they protect and empower lives, making insurance simpler, faster, and more relevant for everyone.

Looking ahead, Custodia envisions technology playing an even more significant role in enhancing financial security and health security for Filipinos. She believes that technology will make insurance more inclusive, enabling faster policy issuance, personalized offerings, and better risk assessment.

Mobile apps will empower Filipinos to manage their policies, access health resources, and engage with their BSEs directly from their phones.

Ultimately, Karen Custodia's visionary leadership is about forging a future- and purpose-led organization to inspire employees to do more for clients.

With a steadfast commitment to innovation, customer-centricity, and empowering her team, Custodia is leading BPI AIA with an inspiring purpose: to build a better everyday life and future for all Filipinos. Through innovative solutions and meaningful partnerships, this vision is steadily becoming a reality—one family, one community at a time.

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