Microinsurance Products in the Philippines

Add value to your business while providing affordable and crucial protection to underserved segments in our community

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What is microinsurance products?

Microinsurance is designed to provide affordable, accessible, and relevant insurance coverage to the low-income and vulnerable sections of society. Its simplified insurance solutions cover various aspects like health, life, assets, and employment, tailored for those who need it most.

In the Philippines, with a significant portion of the population still underserved in terms of financial products, embedding microinsurance in your service offerings can be both a strategic asset and a social cause.

In today’s dynamic economic landscape, businesses across the Philippines are looking for innovative ways to not only enhance their customer services but also to embed additional value in their offerings.

Microinsurance stands out as an effective tool that not only promotes financial inclusivity but also secures your business by safeguarding its most valuable asset – the customers.

Why embed microinsurance products in your business?

  • Customer Loyalty and Trust

    By offering microinsurance as part of your services, you’re providing a sense of security to your customers. For instance, loan protection in consumer finance can ensure that in the face of adversity, your customers’ financial liabilities are looked after, which in turn builds their trust and commitment to your brand.

  • Enhanced Customer Value Proposition

    Whether it's personal accident plans embedded in loans or e-commerce purchase protection, these microinsurance products add significant value to your customer's experience. By addressing their potential worries, you enhance their overall satisfaction and retention.

  • Innovative Market Differentiation

    In a competitive market, businesses that offer unique added-value services, like microinsurance, stand out. Embedding these services in your offerings can differentiate your brand and give you the competitive edge needed in your industry.

  • Risk Management

    Through these partnerships, risks are shared and spread, helping to mitigate potential financial impact from unforeseen circumstances affecting your customers.

How can microinsurance transform businesses in various sectors?

Igloo offers endless possibilities without the limits of typical, traditional insurance set-ups, of which the digital aspect of embedded insurance by Igloo is where security and ease meet speed and scalability.

  • Consumer Finance Apps

    Loan Protection Plans: Seamlessly integrate microinsurance covering loan repayments in case of the borrower’s incapacity to pay due to accidents, illness, or death.

  • E-commerce Platforms and Marketplaces

    Purchase Protection: Offer an added layer of security for online purchases, which can cover loss, damage, or theft of products during transit.

  • Agricultural Sector

    Crop and Livestock Insurance: Tailor microinsurance products that protect farmers against unforeseen events like natural disasters or livestock diseases.

  • Transportation and Ride-Sharing Services

    Driver and Passenger Accident Insurance: Enhance the safety net for both service providers and customers by integrating microinsurance against accidents during travel.

How we can help

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Our distribution partners range from brands with a regional footprint to up-and-coming business sprouting from local markets

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Learn more about offering microinsurance products to your customers

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