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.

discovermarket Marks Official Launch in the Philippines, Launches New Insurance Products with Globe

International insurtech firm discovermarket announces its launch in the Philippines, starting with its partnership with Globe Telecom Inc. - the leading full-service telecommunications company in the Philippines, to launch its embedded Personal Cyber Insurance product. 

Based in Switzerland with its regional headquarters for South-East Asia in Singapore, discovermarket provides embed
ded insurance solutions to over 200 million customers across diverse industries - including hospitality, agriculture, and telecommunications. 

While the Philippines has seen exponential growth in mobile and internet users and its digital economy, therein lies the rise of cybercrimes with an increase of such cases reported in the first quarter of 2024 alone, with 4,469 cases compared to 3,668 cases in the same period last year1. 

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."

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. 

Sun Life Global Solutions (SLGS) Philippines appoints Nathalie Bernardo as its new Vice President and Site Head

Sun Life Global Solutions (SLGS), a microcosm of the global insurance and asset management leader Sun Life, today announced that Nathalie Bernardo has been appointed as Vice President and Site Head for Sun Life Global Solutions (SLGS) Philippines. In this new role, Nathalie will be responsible for leading SLGS Philippines organization and furthering strategic imperatives. Her core responsibilities will include driving technology and digital solutions/outcomes for Asia and business operations and client care for Canada and the US. 

Talking about the strategic evolution of the organization, Tarun Sareen, Managing Director, Sun Life Global Solutions, stated, “SLGS is on a transformational journey, advancing on delivering solutions to our Clients working with business groups as one Sun Life, enabling digital transformation and furthering innovation. We care deeply about our Clients, our colleagues and our communities, and are passionate about driving positive outcomes. We are excited to have Nathalie Bernardo on board. She brings strong leadership credentials and rich experience in multi-functional operations management, client engagement, global solutions delivery, building organizational capabilities and delivering technology solutions for the business. I am looking forward to Nathalie playing a key role in this strategic evolution and wish her great success.” 

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.”

Be rain-ready with Emma by AXA PH

Stay dry and enjoy a rewarding experience as you manage your policy online.

Get a chance to win PHP 2,000 worth of vouchers from GrabGifts when you register.

The rainy season is here once again, and with it comes the need to prepare for possible weather-related inconveniences and emergencies. AXA Philippines, one of the leading insurance providers in the country, with the help of its award-winning Emma by AXA PH app, is here not just to lessen the stress of preparing for the days ahead, but also to make it a rewarding experience.