Gigacover, Generali partner to provide affordable health insurance for freelancers, entrepreneurs

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Insurtech Gigacover and Generali Philippines, a leading player in the insurance industry, have teamed up to further democratize access to insurance in the Philippines.

From left: Grace Gelle, Vice President, Generali, and Amerson Lin, CEO and

 Co-founder, Gigacover

With the partnership, Generali will be able to feature its wide-range of insurance products that are tailor-fit to the needs of Filipino consumers in Gigacover’s platform.

“Gigacover and Generali share the same vision and strategy of leveraging technology and making insurance more accessible to many people and varied industries. In an ever-changing world, the means to get insured also evolves. We will rely on our core strengths – Generali as a trusted, global insurance provider and Gigacover as a transformative platform – to provide Filipinos a more seamless and innovative approach to insurance,” Gigacover CEO and Co-founder Amerson Lin said.

Gigacover’s Freelancer Health Insurance is a comprehensive and tailored insurance solution designed specifically for the needs of freelancers and self-employed individuals. The insurance plan offers a range of benefits and coverage options to safeguard freelancers’ health and well-being while providing peace of mind in an ever-changing professional landscape.

With over 1,600 accredited hospitals and clinics, and more than 30,000 partner doctors nationwide, coverage options include confinement, doctor consultations, diagnostic tests, emergency care benefits, special procedures, new modalities of treatment, annual physical exams, and dental coverage. All of this is available for a low, annual, one-time payment of Php 11,188.

“We at Generali believe in developing comprehensive insurance products at affordable costs. Our partnership with Gigacover allows us to further democratize access to insurance products, driving insurance interest and acceptance, as a whole, in the Philippines,” Generali Vice President Grace Gelle said.

Data from the Insurance Commission (IC) showed that insurance penetration, which refers to the industry’s contribution to the economy, was at 1.72 percent in 2022, while insurance density, or the average spending of individuals on premiums, was still at P3,388.99.

The government recognizes the need to accelerate the development of the industry with no less than the Insurance Commissioner Reynaldo A. Regalado urging the sector to make insurance more accessible to more Filipinos.

Insurtech companies such as Gigacover are best positioned to develop insurance solutions that cater to the needs of the underserved segments of the economy, especially freelance workers and entrepreneurs.

Gigacover has integrated artificial intelligence (AI) and machine learning (ML) to help insurers analyze big data and identify risks quickly and accurately. As a result, risk assessment and management strategies become smart and impartial.

More than getting more Filipinos insured, Gigacover’s system is able to extract data from claims documents and images, calculate and check against limits, detect potential fraud and also decide if advance claims payouts can be done for specific customer groups. This yields higher client satisfaction and also lower loss ratios for the insurers.

“Our goal is to bring quality and affordable insurance closer to the underserved. Our partnership with Generali is a step toward this goal,” Lin said.

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About Gigacover

Gigacover was founded in 2017 in Singapore to bring fairness and stability to independent workers. These include gig workers, freelancers and self-employed persons, many of whom lack access to right-sized financial services. It launched the region's first income protection insurance to meet the needs of the gig economy and has since gone on to serve caregivers, tutors, real estate agents and delivery riders. Gigacover's product suite has also expanded to include earnings advances and payroll accounts. Through technology and data, Gigacover automates distribution, administration and generates insights for risk management in order to bring flexible, affordable and portable benefits to its users. As of 2021, Gigacover has presence in Singapore and the Philippines and is backed by Vectr Fintech Partners, Quest Venture Partners, Alto Partners, M Venture Partners and Farsight Capital.

For more information, please visit: https://gigacover.com

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About Generali

Generali Life Assurance Philippines Inc. (Generali Philippines), a subsidiary of leading global insurer Assicurazioni Generali, has been providing life insurance solutions to international and local clients in the Philippines since 1999, and has a solid track record particularly in the group insurance and credit life business. Sustainability is deeply integrated into everything we do: from social and green products, digital – based services, Corporate Social Responsibility, DEI programs, responsible investments among others.

To know more about Generali, visit www.generali.com.ph.

Tips for new and seasoned pet owners on how to keep happy, healthy pets

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Filipinos adore having pets. With 79% of Filipinos being pet owners, it’s no surprise that they find joy in taking care of animals, whether they're of the feathered, furred, or even scaled kind. But beyond the joy of companionship and protection, pets offer a multitude of health benefits, including increasing opportunities to exercise and socialize and even alleviating feelings of loneliness, allowing pet owners to live healthier, happier lives.

Pets offer unconditional love to their families, and as such, it is every pet parent’s responsibility to ensure that their pets are also living their best and healthiest lives. So if you’re planning to be a first-time pet parent or a pet parent looking for tips on how to care for your pets better, here are some tips to take into consideration.

Ensure that your pet can thrive in the environment you’re in

Yes, pets are cute and are a joy to have around but the first step for any prospective pet owner is to gauge if the pet you want to take care of can thrive in the environment you’re living in. In the Philippines, that means looking for pets that can live in tropical climates.

For furry animals like cats and dogs, this means looking for breeds that have the right kind of coats and body structures. Otherwise, pet parents should invest in creating the right environment for their pets, including proper temperature regulation and ventilation.

Feed your pets food that’s proper and healthy for them

A responsible pet parent should always do research on what to feed their pets. Like humans, pets can have intolerances, allergies, and even food that are poisonous for them. It’s important to learn about what a proper, balanced diet is like for your pet and this can be done through research and through consultations with your veterinarian.

Exercise your pets

Pets need exercise, as this not only helps them burn their energy but also keeps them limber and mentally and physically healthy, as in the case of dogs. Just make sure that the type of exercise you give your pets is appropriate for them, as different pets and breeds require different kinds of exercise.

Keep up with their checkups and vaccinations

Taking care of pets is very much like taking care of ourselves–they need proper nutrition, exercise, and regular medical checkups. According to the American Veterinary Medical Association, all pets should receive a physical medical examination at least once a year. These visits include regular vaccinations and treatments to ensure that they are healthy, as unlike humans, pets may not be able to communicate or show outward signs of disease or injury–things a trained veterinarian can spot and provide treatment and guidance on.

Invest in pet insurance

Routine vet visits and even unexpected medical emergencies can put strain on a pet owner’s finances, which is why it’s important to consider getting a pet insurance product like Pet Insure,

Pet Insure is a customized non-life product specifically designed to protect the health of dogs no matter their breed, allowing dog parents to fully address the needs of their fur babies, including emergencies and accidents. 

Regional insurtech Igloo, together with Malayan Insurance and GCash, created Pet Insure to afford owners convenience and security as it offers three-in-one coverage that includes medical reimbursement for veterinary care up to a maximum of P100,000; owner's liability coverage of up to a maximum of P250,000; and a personal accident cover for dog owners worth P50,000 for as low as P650 for a one-month coverage on the GCash GInsure marketplace.

Having pets is a huge responsibility, and every pet owner must recognize the importance of ensuring that their pets are healthy, thriving, and happy. Learn more about how Pet Insure can protect your pet here.

 

 

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About Igloo:

Igloo is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia,  Thailand,  The  Philippines,  Vietnam  and  Malaysia  and  tech  centres in China and India.  With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies  to  eliminate  their  exposure  to operational  risk,  create  new  revenue  streams,  and optimise  and  enhance  existing  products  and  services.  Igloo  has  partnered  with  over  55  well-known   brand   names   across   the   markets   in   various   verticals,   including   insurance, telecommunications, e-commerce, hospitality, health tech and financial services.

For more information, please visit https://www.iglooinsure.com/.

 

Bring your 2023 Summer Travel goals to life with these six fascinating PH vacation spots

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The long, hot days of summer are finally here and if you’re one of the many who’s up for travel and adventure this season, there are many fascinating tourist and vacation spots around the country you can add to your bucket list.

A recent study by travel and experience platform Klook noted that 87% of Filipinos are raring to travel with many of their destinations of choice within the Philippines as booking for domestic destinations have exceeded pre-pandemic levels in 2022.

Domestic travel, according to the Department of Tourism, is expected to make a full recovery this year with the country’s hotel and resorts association reporting that occupancy has breached 2019 numbers and is largely driven by domestic tourism.

With 2023 being dubbed as the year of Revenge Travel, there’s no better time to plan your trip, pack your bags and head-off for an unforgettable adventure. But before you do, ensure your travels are hassle-free by getting Travel Master Insurance with COVID-19.

“It’s summer and we’re sure that many Filipinos are already picking out the destinations they want to travel to, especially since the Philippines has so many beautiful sites to see–from beautiful beaches to beautiful towns and cities–there’s something for every kind of traveler. Traveling should be fun, stress-free, and hassle-free, this is why we created Travel Master insurance–to provide our travelers the peace of mind and protection from any kind of eventuality so they can make the most out of their trips,” said Mario Berta, Igloo’s Country Manager for the Philippines.

Created in partnership with GCash and Malayan Insurance, Travel Master with COVID-19 provides travelers coverage including for personal accidents, flight delays, lost luggage, emergency medical treatment, hospital cash allowance, travel inconvenience benefits, and COVID-19 protection.

To get the Travel Master coverage, simply access the GInsure page available on your GCash app and select Travel and Travel Master with COVID-19. Fill in the form with your travel details and it will immediately provide you with coverage benefits and the premium contribution and you’re set to go.

Travel Master with COVID-19 is available whether you’re planning to travel locally or internationally–making it a flexible and much-needed travel companion anywhere you go.

So if you’re looking for destinations to add to your vacation bucket list, here are six spots around the Philippines to get you started:

Samal Island Tourism Information Center, Facebook

Island Garden City of Samal

Davao del Norte

Located at the heart of the Davao Gulf, the Island Garden City of Samal is known as the largest resort island in the country– home to more than 30 resorts across a 118-kilometer stretch of coastline.

A mere 15-minute boat ride from Davao City, the resort island is a great stop for those who want to soak in the beautiful landscapes and seascapes of the Philippines. Go snorkeling and bask in the beauty of the 150-hectare Coral Garden and Marine Park that includes the Audanao Fish Sanctuary and the Giant Clam Sanctuary. On land, travelers can enjoy exploring the 11.5-hectare government-owned botanical garden and nature park where they can see diverse flora and fauna.

The resort island is also home to the largest colony of fruit bats in the world and they can be seen in their natural habitat at the Monfort Bat cave.

Alona Beach Guide, Website

Alona Beach

Bohol

The Philippines is home to amazing beaches (it has more than 7,000 islands after all) and if you’re on the hunt for a new beach haunt that has white sand beaches like Boracay, Alona Beach in Panglao, Bohol is a great spot to add to your travel bucket list.

The white sand beach stretches a good 1.5 kilometers and is in full view of the blue, blue waters of the sea of Bohol. Nature lovers and adventure seekers may also immerse themselves in the rich marine biodiversity of Balicasag Island–a few minutes boat ride from Panglao island. Here you can snorkel and view its 400-meter coral garden and marine sanctuary.

Meanwhile, those who want to get the most out of their vacation and explore more of Bohol can also visit the famous Chocolate Hills, the Mahogany Forest, or take a slow, leisurely ride and a beautiful lunch along the Loboc River with the Loboc River Cruise.

Lacson Ruins, Facebook

The Ruins

Bacolod

Often called the “Taj Mahal of the Philippines,” The Ruins or the Lacson Ruins was the ancestral home of local sugar baron Don Mariano Ledesma Lacson built in the early 1900s in Talisay, Bacolod City. Inspired by Italian architecture, the Ruins was built in the memory of Don Mariano’s wife Maria, who died giving birth to their 8th child.

During the Second World War, the mansion was burned by Philippine guerillas to prevent it from being used by the Japanese. The mansion burned for three days straight but left behind its beautiful foundation. The Ruins has now become a popular tourist and event spot, especially for weddings because of its romantic history.

For those who want to experience more of the old-age architecture of the Philippines, they can–after visiting the Ruins–take a day trip to the neighboring city of Silay and visit its large collection of perfectly-preserved heritage houses including the Golez Heritage House and the Balay Negrense heritage house and museum.

Museo Orlina, Facebook

Museo Orlina

Tagaytay City

For those who want a more leisurely adventure in cooler climes, Museo Orlina in Tagaytay City, is the perfect place for you.

Located at Hollywood St. Hollywood Subdivision in Tagaytay City, the museum houses the many glass sculptures of famed Filipino visual artist Ramon Orlina. Spend an hour or two exploring the four-floor exhibit area including the Reflections Gallery where Mr. Orlina exhibits videos, images, and documents charting his art journey; and the Naesa Gallery which features an ever-changing exhibition featuring up-and-coming Filipino artists.

If you fancy viewing his work alongside nature, take a walk at the Sculpture Garden and Amphitheater, and cap off the visit with a spectacular view of Taal Lake at the roof deck.

Tam-awan Village, Website

Bell Church, Website

Tam-awan Village and Bell Church

As the Summer Capital of the Philippines, many vacationers travel to Baguio in search for respite from the hot weather. The cooler climate alongside the beautiful nature makes it a must-go destination for anyone regardless of their preference for adventure.

Those who’ve been to Baguio several times would undoubtedly know of its most famous landmarks including Wright Park, Burnham Park, Camp John Hay, and more. But for those who want to discover more of the city and its culture, there’s no better place to visit than the Tam-awan Village and the Bell Church.

Tam-awan Village located in Pinsao Proper, Baguio City is perfect for those interested in art and history. The village features indigenous craftsmanship and Ifugao architecture alongside art pieces made by local artists set within a sprawling and beautiful mountainside forest.

Bell Church, meanwhile, is a 63-year-old Taoist temple located in La Trinidad, Benguet. Here visitors can enjoy the beautiful architecture and the quaint lotus pond and even have their fortunes read by the monks of the temple.

Whether your summer plans are for adventure or relaxation, domestic or international, make your travels all fun and worry-free withTravel Master Insurance with COVID-19 available at the GCash’s GInsure marketplace.

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About Igloo:

Igloo is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia,  Thailand,  The  Philippines,  Vietnam  and  Malaysia  and  tech  centers in China and India.  With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies  to  eliminate  their  exposure  to operational  risk,  create  new  revenue  streams,  and optimize  and  enhance  existing  products  and  services.  Igloo  has  partnered  with  over  55  well-known   brand   names   across   the   markets   in   various   verticals,   including   insurance, telecommunications, e-commerce, hospitality, health tech and financial services.

For more information, please visit https://www.iglooinsure.com/.

Regional insurtech Igloo eyes more opportunities to drive financial inclusion in the Philippines with US$ 27-M in fresh funding

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(MANILA, PHILIPPINES) - Following a successful $27-M Series B+ funding, regional insurtech Igloo is gearing up to further accelerate financial inclusion in Southeast Asia. Seeing tremendous growth in the Philippines, Igloo will be allocating a portion of the funding to deploy more insurance solutions and increase coverage across the country.

The first investment in Southeast Asia, the recent funding round was led by a group of global institutional investors, highlighting their shared mission of protecting the communities they serve. The investors have expressed interest in Igloo’s initiatives in the Philippines which include providing credit line insurance to entrepreneurs, half of which are women, through its partnership with Philinsure. The firm also pioneered Foodpanda’s PandaCare initiative, a comprehensive insurance package for platform workers that includes accidental death, accidental dismemberment, medical reimbursement, hospital assistance, and burial expense.

“With an insurance penetration rate of less than 2%, we entered the Philippines by listening to the unmet needs of Filipinos to ensure we are filling the gaps that other players have yet to address,” said Mario Berta, Philippine Country Manager for Igloo “With the success of the B+ funding, this ensures that we can strengthen our current tech capabilities and allow us to introduce new solutions that would reach more underserved sectors in the Philippines.”

Igloo is currently in talks with insurance and government partners to bring the first blockchain-based Weather Index Insurance, a new technology that would provide immediate financial assistance to farmers in times of adverse weather conditions. With an average of 20 typhoons traversing the Philippines every year, Weather Index Insurance will not only fast-track farming communities’ recovery but also guarantee the sustainability of their livelihood.

While Igloo helps insurance partners onboard their products into digital platforms, the firm is also finding more solutions to support direct sales intermediaries. As the industry transforms itself, there is also a need to help agents and brokers prepare for the increasing demand for insurance. The firm intends to introduce Ignite by Igloo, an intuitive AI-powered digital solution, that enhances the productivity of agents by automating manual paperwork and inefficient procedures.

With the increased ease of purchase of low-cost protection, latest data from the Insurance Commission (IC) showed microinsurance premiums jumped by 15% in the first quarter alone. Riding off the growth of the segment, Igloo has facilitated over 100 million through local insurance partners in the past four years it has been in the market.

“The Philippines being one of the most digitally connected places in the Southeast Asia region is an advantage for insurtech companies because technology is heavily involved in the lifestyle of Filipinos.“ said Berta “We will leverage technology to reach out to sectors within the Philippines since every Filipino deserves to have access to insurance, no matter where they live.”

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About Igloo:

Igloo is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia, Thailand, The Philippines, Vietnam and Malaysia and tech centres in China and India. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimise and enhance existing products and services. Igloo has partnered with over 55 well-known brand names across the markets in various verticals, including insurance, telecommunications, e-commerce, hospitality, health tech and financial services.

For more information, please visit https://www.iglooinsure.com/.