Tough times spark the need for bite-sized savings

Spiking oil rates and rising food prices have taken up the bulk of Filipinos’ income in the past months. These pressing issues coupled with the present generation’s lifestyle call for a simple and innovative way of making their savings significantly grow in the face of the alarmingly growing cost of living.

Taking off from this need, Pioneer and Blue Cow recently launched revolutionary triad products that aim to create a lifestyle that allows Filipinos, young and old, to save money while they spend: insurance and savings cards Sparx and Sparxx (Sparx to the X) along with the latest mystery comic book for kids, Private Iris.

In line with the company’s advocacy for over-all financial wellness, Pioneer created SPARX to spark the savings habit among children, and aligned it with Sparxx, which targets the older markets including, but not limited to, the young adults, the increasing markets in the business process outsource (BPO) centers, and among families left behind by OFWs.

Sparx and Sparxx are sachet savings cards that were designed to encourage saving while still allowing room to spend for the things people need and want.  Because they are in sachet form, they come in small affordable bite-sized chunks. Prices per card range from as low as P100 for Sparx and P300 to P5,000 for Sparxx. Consumers are not forced to commit to a long-term plan and have control over the frequency of their purchase. The cover will not lapse even if the customer buys just one card.   At the end of a specified number of years, they can get their money back with interest higher than the banks.  Meanwhile, they have life protection in place. 

Alongside Sparx, Private Iris was positioned as its complementary medium to encourage children to understand the concept of saving through mystery plots that excite and educate the young readers.  Created by two of the most talented Pinoy artists of this generation, Jamie Bautista and Arnold Arre, Private Iris stands to become one of the first of its kind in the recent local comic book genre. 

Already set to launch its second issue, Private Iris can be found in major bookstores across the metro. Sparx and Sparxx  have also been  made available first in Metro Manila and later on nationwide through Pioneer offices and accredited distributors  including select Petron service stations and Load Central, one of the largest electronic reloading stations.  They will also include shops, retail outlets, schools and agents alike.  Top-ups can also be done via Banco de Oro, BPI, Unionbank, Chinatrust and 7-11 stores. All it takes is one call to Pioneer’s contact center (750- Life) or a quick visit to their website (www.sparx.com.ph) to activate a card. 

“We want to revolutionize the general notion that saving and spending can never be reconciled in a singular product,” Nanjo Berba, senior vice president for Business Development of Pioneer Life shared. “Many Filipinos usually see insurance as confusing and unnecessary, but it is actually a tool for making one’s savings grow significantly. Now, we have found a way to make getting insurance as convenient as purchasing a comic book and as simple as buying load for one’s mobile phone.”

Further to the need for an effective savings tool, Pioneer aims to educate its market by promoting money smarts across all ages and all classes. Roadshows for the BPO segment plus financial literacy clinics in schools are but a fraction of Pioneer’s over-all effort to promote healthier saving and spending habits. 

The triad products further concretize Pioneer’s aim to consumerize insurance and to make it more accessible and relevant among Filipinos.  Such is the case with Private Iris which is also poised to become the nudge for kids and adults alike to understand and apply the idea of insurance and saving in their daily lives through the comic book’s edgy and educational approach in storytelling.

“We want to prove that without compromising our standards, we can go beyond the usual to become a provider of an experience that will truly delight the consumer and at the same time, create an effective tool in cushioning the negative impact today’s pressing issues may have on their budget and on their lives,” Mr. Berba shared.

For more information about Pioneer and Blue Cow’s products, please visit: (www.pioneer.com.ph; www.sparx.com.ph)