Making good on a vow to make the CNMI ‘Rest Assured’

Pacifica Underwriters Insurance Inc. is one of the CNMI businesses that has witnessed how the islands transitioned from under the Trust Territory government to being a U.S. Commonwealth. It has seen the transformation of the CNMI economy and political landscape, and how it has weathered every challenge the islands faced in five decades.

Like most local businesses and companies that started in the CNMI, Pacifica Insurance keeps track of local and global issues that can affect the insurance industry. Company President and CEO Shirley Sablan said foresight and preparation are key factors to their survival, which is why they keep abreast of global issues that might affect their industry.

“One thing is for sure: However tough it gets, we will need insurance for those uncertainties, regardless of the economic situation. The business of insurance isn’t necessarily recession-proof, especially if it is mismanaged, but because we all want peace of mind, the product itself is usually placed high up on our list of priorities, making it a bare necessity,” said Sablan. “And if we didn’t have all the pieces together, Pacifica would not have gotten this far. These pieces were the right choices we made in our product offerings, partnerships made and kept, recruitment and professional development, financial and operational management. We may not have always done things seamlessly, but we learn and adjust to do it better the next time around.”

She believes a company should make sure to work around the ever-changing economic, political, and social landscape that might happen anytime, driven by world events.

“We do not get to choose exactly how things should be because there are many moving parts. The best that we can do is work well with others, have an open mind, listen intently, adjust accordingly, and adapt. Having said this, we adapt to change as necessary and cater to consumer needs and demands to ensure our services and products make sense,” she said.

Having a somewhat personal touch in dealing with their clients’ needs has allowed Pacifica Insurance to retain a loyal base that has been their customers for decades, whether businesses or individuals.

“Some of our clients are businesses that are still operating today or are children of parents who were long-time customers of ours and have passed on the tradition. We are grateful for their loyalty and support and will work hard to continue earning their business,” Sablan said. “We are also grateful to all our new clients who decided to ‘rest assured’ and took a chance on Pacifica. Our clients will always be our core—they are the lifeblood of our company.”

Insurance is one of the important industries in the world and Sablan believes it will continue to be a service needed by everyone, even by those who might not realize it is part of their daily lives.

“When you drive, there’s a high chance that the owner of that vehicle has insurance. When you open a business that is financed by a commercial loan, there is a likely chance that it will have insurance. When you see a doctor, a portion of that service bill might be paid by some form of insurance. And when you build that dream home, your mortgage will more than likely require insurance,” she said. “This is how Pacifica has been helping to create possibilities and make dreams come true. We have been helping our people and have contributed to the growth and development of our local economy even before we became a U.S. territory. Our company has seen many firsts in its lifetime and has been there through the best and worst of times.”

Sablan said Pacifica Insurance has been tested time and again, but it is determined to continue the path of providing financial security options.

“There is no question what insurance offers to create possibilities and ensure our financial protection. This is why the insurance industry as a whole must be able to operate in a business environment that is conducive for the sake of its survival,” she said.

Pacifica Insurance understands how critical insurance is to everyone and promises to continue offering reliable products and services that will be there when coverage will be needed most, Sablan said, with the company being committed to helping others and promising that they will work diligently to make sure that they meet the insurance needs of CNMI residents and businesses alike.