1. Porters Five Forces Analysis
   1. Threat of New Entrants
      1. High Capital Requirements
      2. Regulatory Barriers
      3. Threat of Substitutes
         1. Other Investments (Stocks, bonds, real estate, etc)
         2. Traditional bank savings, checking, and time deposits
         3. e-wallets offering insurance (mobile payment services)
      4. Bargaining Power of Consumers
         1. Buyers have a lot of access to information
         2. Group Corporate Packages
      5. Bargaining Power of Suppliers
         1. Insurance agents offering products from multiple companies
         2. Bank partnership
      6. Rivalry among Competing Firms
         1. Few insurance companies.
         2. Similar products are offered.
         3. Mergers & acquisitions in the industry.
      7. Conclusion

Kindly explain or expound around two paragraphs each with references and links to further understand. Insurance Industry in the Philippines