Igloo and Angkas Partner to Provide Affordable Insurance for 20,000 Riders

Leading regional insurtech Igloo has partnered with the Philippines’ largest motorcycle ride-hailing platforms, Angkas, to protect riders with personal accident and medical insurance.

Ride-hailing services have become essential to urban mobility, especially in a country with a fragmented public transportation system. The fast-growing sector is projected to reach USD 1 billion in revenue by 2030.

Protecting Homes from ‘Ber’ Month Storms: Igloo and Skyro’s fifth insurance product protects against floods and fires

Source: NPR

Filipino homeowners remain highly exposed to climate-related disasters, yet many still lack adequate insurance to recover from repeated losses.

From August through the "ber" months, the Philippines faces heightened disaster risk as typhoon activity intensifies, bringing heavy rains, strong winds, and increased flooding. During this period, the need for reliable protection becomes even more critical. Yet, many remain uninsured, leaving them financially vulnerable and unprepared for long-term recovery.

Protecting Filipino Farmers from Climate Losses: Igloo’s Weather Index Insurance Offers a Solution

Source: Pixabay

Filipino farmers are left vulnerable to financial losses from extreme climate events, yet only one-third are insured.

After months of scorching heat, the country is now grappling with torrential rains as the rainy season sets in. While the rains offer hope for renewed harvests, they also carry the threat of stronger, more destructive typhoons. Despite their vital role in food production, farmers remain among the most vulnerable, repeatedly bearing the brunt of extreme weather with limited protection.

Igloo Launches Igloo Tech Solutions to Transform Insurance Operations in Southeast Asia

Regional insurtech leader launches end-to-end digital solutions to enable insurers and businesses to scale distribution and unburden operational inefficiencies

Igloo leverages its proven product and tech expertise with Igloo Tech Solutions, comprising a suite of solutions covering the full insurance value chain, including Igloo Partner, Igloo Agent and Igloo Consumer; and Core system, Claims and Admin modules.  

These solutions have powered Igloo’s successful embedded, agent, and direct-to-consumer businesses, enabling product launches at scale across key distribution channels.

Inclusivity through Technology: How Insurtech Igloo Supports Women Entrepreneurs in the Philippines

This National Women’s Month, leading regional insurtech Igloo is celebrating the unstoppable spirit of women who are transforming industries, breaking barriers, and redefining success. 

According to Packworks’ business intelligence tool, Sari IQ, 75% of sari-sari stores in the Philippines are owned by women. To support these women entrepreneurs, Igloo has partnered with various organizations to provide tailored insurance products that offer financial protection against unforeseen risks. Together with its partners, Igloo delivers accessible and affordable microinsurance solutions, covering business disruptions, health emergencies, and personal accidents. 

Igloo on Driving Insurance Growth in the Philippines Through End-to-End Digitalization

End-to-end digitalization of insurance is becoming a crucial strategy to boost insurance penetration in the Philippines, especially as recent data indicates a decline in coverage across the country. In 2023, insurance penetration in the Philippines sank to 1.6%, lower than the 1.73% recorded in 2022.  This decline highlights the urgent need for innovative solutions to make insurance more accessible and appealing to a broader population.

Igloo, a regional insurtech, addresses low insurance penetration by leveraging technology and partnerships to streamline operations across the entire insurance value chain–from insurance and intermediaries to consumers. By digitalizing processes throughout the ecosystem, Igloo enables faster, more efficient services, seamlessly integrating insurance into everyday digital interactions such as e-commerce and travel bookings. 

Why Adding Insurance to Your Cart This Shopping Season is the Ultimate Upgrade

Insurtech Igloo gives tips on how to make holiday shopping worry-free

The holiday season is all about finding that perfect gift, whether for yourself or someone else. With holiday online sales on the horizon, it’s the ideal time to score great deals on high-value items. Electronics like smartphones, tablets, and gaming consoles are in high demand, along with bags, watches, beauty products, and high-quality appliances. While these items bring excitement and joy, they also come with some risks—accidental damage, theft, and unexpected malfunctions can turn a valuable purchase into a stressful situation.

Regional insurtech Igloo on how insurers can attract Gen Z and boost insurance penetration in the Philippines, Southeast Asia

In Southeast Asia, insurers are grappling with the challenge of attracting Gen Z—a generation known for its financial savvy and strong desire for financial security. However, despite these traits, traditional insurance products often fail to resonate with them due to their perceived complexity and a general distrust of conventional financial institutions. This disconnect is particularly evident in the Philippines, where despite a projected compound annual growth rate (CAGR) of 9.5% which will see the country’s insurance industry’s value grow to P 209 billion in 2028, actual insurance penetration remains low at 1.6%.

This shows how the industry must address the concerns of Gen Z, a demographic that McKinsey predicts will comprise a quarter of the Asia Pacific’s population by 2025, including around 40 million Filipinos (34.7% of the Philippine population).

Award-winning app supporting insurance sales intermediary digitalization, Ignite by Igloo, launches in the Philippines

The streamlined and user-friendly app that helps partners sell easier, faster, and more effectively won Mobile App of the Year (Vietnam) at the recent Insurance Asia Awards

To mark its third year, Ignite introduced a new iLearn feature for the upskilling of agents and a new microsite to aid partner recruitment

Marking Ignite by Igloo’s (“Ignite”) third year since its launch, regional insurtech Igloo has announced Ignite’s launch in the Philippines to help insurance sales intermediaries in the country digitalize and employ effective digital tools to enhance their sales processes, streamline client management, and provide superior customer service.

“We understand that insurance is still very relationship-based in the Philippines and most insurance sales here are being facilitated in person by insurance intermediaries and brokers. The lack of technology integration or a consistent platformized approach has posed multiple challenges - most of the process is being conducted via a single insurance intermediary, single product, single insurer, leading to limited ability to earning more and referring more product,” said Raunak Mehta, Co-Founder and CEO of Igloo. “By launching Ignite in the Philippines, Igloo is on a mission to help boost the efficiency and productivity of nearly 271,000 active life and non-life insurance intermediaries in the country."

Igloo strengthens MSME support with Growsari partnership, providing insurance to sari-sari stores in the Philippines

The Growsari partnership aims to provide financial assistance to over 200,000 sari-sari stores in case of natural disasters such as floods

After launching NegosyoCare in 2023, this partnership reaffirms Igloo’s goal to provide protection products to underserved communities and industries in the Philippines and Southeast Asia

From small mom-and-pop shops around the corner, sari-sari stores, and small businesses started by young entrepreneurs, the importance and impact of these micro, small, and medium enterprises (MSMEs) cannot be overstated. These businesses account for 99.5% of the total number of companies in the country and employ 62.8% of the workforce. 

However, the same segment is often exposed to a wide range of risks, from theft, illnesses, or natural disasters. Compared to larger businesses, they struggle to manage these risks more due to limited resources.

Protect your pets from the risks of changing weather with Igloo’s Pet Insure

We’ve all been victims of the changing weather–where shifting from hot to cold leave us scrambling for comfort and protection and often challenges our immune system to keep up. It’s the allergies, flu, and colds that catch us off guard.

But did you know that the same weather-related temperature changes pose challenges for our pets, too? Just like us, they can suffer from seasonal allergies, respiratory issues, and discomfort due to sudden shifts in temperature. It's important to be mindful of their needs and take steps to ensure their well-being during these unpredictable weather patterns.

Igloo highlights importance of democratizing access to device protection with Smart partnership

Key partnership furthers the insurtech’s goals in expanding access to innovative protection products in the Philippines

The partnership of Igloo and the Philippines’ largest mobile network furthers the insurtech’s mission to provide insurance for all–and this includes comprehensive and affordable device protection

There are 59.4 million smartphone users in the Philippines in 2024, a number that is expected to grow to 91 million by 2028

From consumer finance to e-commerce, Igloo continues to facilitate protection products tailored to the needs of Filipinos and Southeast Asians

Protecting the growing freelancer and gig worker sector with Igloo's gadget protection

As the Philippines grows into a formidable digital economy, the increasing connectivity and digital infrastructure have empowered individuals to offer their skills and services globally. Freelancing or gig working allowed Filipinos to participate in the global workforce while contributing to the country’s economic resilience and competitiveness in the digital era.

Regional insurtech Igloo, whose mission is to provide insurance for all, believes in protecting this growing workforce segment. Payoneer’s 2022 report on the Philippine freelance market estimates that 1.5 million Filipinos are engaged in freelance work such as content creation and customer service for local and global clients. 

Through its new partnerships with consumer finance platforms, Igloo extends access to insurance to the underbanked

Regional insurtech furthers financial inclusion with tailored protection for products purchased through digital loan platforms

As part of its commitment to advancing financial inclusion and providing insurance for all, regional insurtech Igloo has partnered with consumer finance platforms in the Philippines to offer gadget protection products to shoppers. Igloo aims to extend access to insurance products and streamline the process of protecting items purchased through digital loans or alternative financing, whether online or in-store, providing consumers with a more accessible and convenient means to secure their purchases effectively.

“While the Philippines has made notable strides in financial inclusion, a considerable portion of the population remains unbanked. This translates to the inability to establish a credit history, which is essential for accessing financial products such as credit cards and loans,” said Roberto Vea, Commercial Lead at Igloo Philippines. “This is why the consumer lending industry has risen by leaps and bounds–it caters to the needs of the unbanked population by providing alternative financial solutions such as digital loans that do not rely on traditional banking infrastructure."

Igloo and Lazada unveil protection plans for electronics, phone screens, and beauty products in the Philippines - a first for the e-commerce platform in the country

Igloo and Lazada have collaborated to provide customers in the Philippines with comprehensive protection for their purchases

For the first time, Lazada PH customers can now avail protection plans for select products upon checkout

Beauty and personal care products (47% of all online purchases) alongside consumer electronics (35%) are among the top online retail categories in the Philippines

A fourth product, accidental and liquid damage protection for non-electronics, will be available in December

2024 trends transforming Southeast Asia's insurance landscape

Southeast Asia's insurance sector is undergoing a massive transformation to keep up with evolving market demands and maintain competitiveness. In the Philippines, where insurance penetration is at a mere 1.68%, the industry is grappling with persistent challenges such as complexities, outdated systems, and regulatory hurdles. However, amidst these obstacles, the industry is forging ahead with innovation and modernization with insurtechs emerging as crucial drivers of this change, fueling efficiency enhancements and elevating customer experiences. 

Regional Insurtech Igloo Reveals How Gen Z Will Shape Insurance In The Coming Years

Igloo revealed the top five ways GenZ will shape insurance in the region.

The five trends changing the landscape are speed and convenience, personalization, social impact, emerging risks, and education and awareness.

Igloo analyzes demand data from strategic partners to identify emerging risks and trends in insurance.

Igloo, a regional insurtech providing people-first and simple insurance solutions, is leveraging upcoming technologies like blockchain and AI to protect underserved segments across Southeast Asia against emerging risks and needs. As part of its mission to provide “Insurance for All,” Igloo unveils how Gen Z (which McKinsey defines as people born between 1996-2012) will shape insurance in the near future.

From inconveniences to emergencies, here’s how Igloo’s seamless digital experience makes insurance claims easier and hassle-free

While we can't always predict what lies ahead, having insurance coverage can provide a safety net when unexpected events occur. From delayed flights to medical emergencies, understanding the process of making insurance claims is essential for turning setbacks into manageable situations. 

With a goal of “Insurance for All”, Igloo has made it its mission to not only provide affordable insurance products but also make filing claims easy and hassle-free. 

From travel insurance like Travel Master with COVID-19, pet insurance like Pet Insure, and MSME insurance like NegosyoCare, Igloo and its partners offer Filipinos a wide variety of products that can suit their needs and all of them are available through multiple channels including the GCash GInsure marketplace.

“At Igloo, we understand that unexpected events can disrupt lives and cause stress. This is why we’ve worked with our partners and utilized our technology to provide Filipinos easy access to microinsurance products – access that includes ensuring that the customer journey from purchasing to claiming is streamlined, straightforward, and efficient,” said Mario Berta, Igloo’s Country Manager for the Philippines. “Through this, we can educate and encourage more Filipinos to understand the importance of having insurance as in just a few clicks, they are confident that they are protected from unexpected events, big or small.”

Opening a business in the Philippines? Here’s what you need to know to get started

In the Philippines, micro, small, and medium enterprises (MSMEs) comprise 99.58% of all businesses in the country and employ 64.67% of the entire workforce and are the driving force of the economy. These businesses, which include small community stores or sari-sari stores, water refilling stations, laundry stations, and many others, not only contribute to the country's GDP but also provide essential services to the local communities.

Such is the outsized importance of MSMEs that the United Nations (UN) designated every June 27 as International MSME Day to raise awareness on their immense contributions to the UN Sustainable Development Goals (SDGs). These enterprises play a pivotal role in driving local and national economies while also supporting the livelihoods of the working poor, women, youth, and vulnerable groups.

Igloo protects Southeast Asia's multi-billion dollar coffee industry with innovative weather insurance for farmers

Following the success of its Weather Index Insurance for rice farmers launched in November 2022, Igloo expands its reach to coffee farmers in Vietnam

Igloo’s Weather Index Insurance helps protect coffee farmers and their crops against extreme weather conditions

Igloo plans extend this protection to more markets, more communities, and more indices

Regional insurtech Igloo expands its blockchain-based parametric index insurance to coffee farmers in Southeast Asia, showing commitment to covering more underinsured communities and industries after successful product implementation with rice farmers.

Southeast Asia - a part of what is called the coffee belt - is one of the biggest coffee producers in the world. While Vietnam and Indonesia are responsible for the majority of global coffee output, the Philippines is also an important global producer with industry revenue expected to reach US$6.7 billion in 2023, according to statistics portal Statista. The local market is also expected to grow annually by 5.69% until 2025.