The Insurance Industry is one of the most regulated Industries in the country second to the Banking Industry, with both being in the financial services sector. However in the Philippines, the Insurance Industry’s main regulator, the Insurance Commission counts other Industries not related to Insurance under its regulatory ambit and this includes Health Maintenance Organizations, the Pre-Need Industry, The Mutual Benefit Associations and their respective ancillary industries.

The objective of the study is to identify, validate and prioritize major regulatory inefficiencies, particularly in basic education and propose alternative solutions to maximize regulatory benefits and minimize regulatory costs to the public and private sectors
and society in general.

In the Philippines, remittances from both domestic and international sources has continued to grow at a steady pace for the past few years and this trend is expected to last with sustained local and international migration.