GCash
Insure, the new comprehensive yet affordable insurance product for GCash users,
has partnered with AXA Philippines, one of the country’s leading insurance
companies, to underwrite coverage; and MicroEnsure, a global digital insurance
provider, to serve as administrator and distributor for this innovative
offering.
With life
and personal accident insurance coverage of up to P200,000 and daily hospital
income insurance up to P10,000, GCash Insure allows Filipinos to have insurance
for themselves and their families at an affordable monthly or annual premium.
Payments will be deducted from their GCash accounts depending on the customer’s
preferred and agreed-upon payment frequency.
Customers
can choose among bronze, silver, gold, or platinum benefit plans which can
cover the user and other beneficiaries, such as their families of up to three
persons.
GCash,
the country’s leading
mobile wallet, has begun offering micro-insurance products to its users as a way
of democratizing access to financial protection. The technology is provided by MicroEnsure.
“It is of
utmost importance to feel financially secured, especially during unfortunate
events that no one can see coming,” said Rahul Hora, president and CEO of AXA
Philippines. “However, a vast majority
of Filipinos believe that insurance is expensive or can’t afford to get
insurance for themselves or their families. Here at AXA, we believe in
empowering people to live a better life and that is why we have joined this
initiative and partnered with reliable platforms to bridge that gap."
GCash
chief data officer Jean-Francois Darre added, “We realized that the
insurance needs of Filipinos were not being met due to the reliance of incumbent
players on traditional distribution models, and the low awareness among
Filipinos of the need for insurance. We want people to understand the benefits
of securing their family’s future if something happens to them. We want to
provide financial protection that they can afford and appreciate.”
Richard Leftley, CEO of MicroEnsure, said, “Providing
insurance to the mass market has many challenges that can only be overcome
through partnerships. We are excited to be utilizing our skills in creating,
selling, and servicing insurance for the mass market which we have gained over
the last 17 years to drive this partnership forward.”
For more
information, visit www.axa.com.ph or www.gcash.com/insure/, contact
the GCash hotline at 2882, or send an email to gcashinsure-support@microensure.com.
0 comments