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/.

Barbie Almalbis, Mark Escueta, Pochoy Labog and Jarlo Bâse team up for inspiring powerhouse track “PIRASO"

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The star-studded tune emphasizes the importance of faith during trying times

Alt-rock icon Barbie Almalbis, Rivermaya lead singer/drummer Mark Escueta, Dicta License vocalist Pochoy Labog, and fast-rising singer-songwriter/producer Jarlo Bâse have collaborated on a soulful track that unfolds with tenderness and power in equal measure.

Released under WATERWALK RECORDS, “PIRASO” tackles the journey of healing and spirituality amidst the crippling fear of uncertainty that all four artists have personally experienced in recent years. The song not only articulates the collective frustrations and sacrifices that people have to go through in order to cope with depression caused by the pandemic, but also reveals how faith has become a source of comfort and strength during trying times.

According to Almalbis, producer-extraordinaire Jungee Marcelo was responsible for bringing them together. She immediately said yes after finding out about the other musicians involved in the project and what the music stands for.

“I have always been a fan of Mark and Pochoy, and I was also looking forward to working with Jarlo, because Mr. Jungee really looked up to him as a young producer,” the Silaw hitmaker admits. “We started writing the song virtually, just exchanging ideas via a chat group, then eventually met up in person to tie everything together.”

Despite their busy schedules, the four powerhouse acts managed to squeeze time to record the song before the year ended. Almalbis reveals that the entire team behind “PIRASO” felt a strong sense of achievement with how the final product turned out. “On the day we finished writing the song, we made a makeshift vocal booth in our house, which turned out to be a great sounding room for vocals. Pochoy then went home to do the bass track. A few days later, we hung out at Mark’s studio to finalize the drum parts. I did a bit more guitar work at home, and Jarlo did the rest of the production, recording his vocals and adding piano, samples, and synths in his own place.”

Dicta License’s Pochoy Labog admits that the collaboration was out of his comfort zone, but the experience, according to him, was an absolute joy. “We flowed so well and nothing was forced. Writing the lyrics was like being in a discipleship group or household –we plugged in words while sharing life experiences and our own walks with God. It was one of the most profound moments in my musical journey.”

Surprisingly, the all-star collaboration turned out to be a very moving piece that raises the bar for all the musicians involved in terms of songwriting and artistry. Bâse, in particular, was grateful and honored to be part of this massive endeavor that brought a different kind creative synergy and excitement.

“I’ve always looked up to Sir Jungee and everyone at WATERWALK/Sony Music for their love and excellence in making music,” says the young singer-songwriter. “I hope people would enjoy and be blessed with the song we all made together.”

“PIRASO” is also Mark Escueta’s first project with WATERWALK RECORDS. He is thankful to be part of a music project that aims to inspire people from all walks of life. “It's an honor and a blessing to be part of this project and I know that WATERWALK RECORDS will continue to touch so many lives in the years to come.”

“PIRASO” is out now on all digital music platforms via WATERWALK RECORDS.

For more updates on the new tracks, artists, and upcoming events, please follow:

WATERWALK RECORDS: Facebook | Instagram

 

ABOUT WATERWALK RECORDS

WATERWALK RECORDS is a music label under Sony Music Entertainment that is focused on bringing fresh Christian music to a new, streaming generation. The label features faith-based entertainment artists from across the length and breadth of the country, who represent the best of Christian music combined with their own unique styles.

Enjoy sulit-sarap merienda with Mang Inasal Snack Savers

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Looking for delicious and affordable snacks this 2023? Mang Inasal, the country’s Grill Expert, treats its customers with Snack Savers -- the sulit-sarap merienda treats.

“Mang Inasal has been a dining partner of our customers for two decades and we know how important merienda meals are for them. So this year, we are offering everyone our Snack Savers composed of our best-selling snacks at affordable prices,” said Mang Inasal’s Business Unit Head Mike V. Castro.

Choose from Chicken Empanada at P52, Palabok at P75, or small Extra Creamy Halo-Halo at P69, and enjoy your sulit-sarap merienda anytime of the day! Check out the Snack Savers at all Mang Inasal stores nationwide.

Want more Mang Inasal exclusives NOW? Visit www.manginasal.com for the latest updates, https://manginasaldelivery.com.ph for delivery deals, and follow Mang Inasal on social media!

Cherry introduces its very own Bladeless Fan

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A Safe, Smart and Stylish Home

Cherry continues to expand its product line up under Cherry Home. Cherry Introduces its very own Cherry 2-in-1 Bladeless Fan and Air Purifier.

Make your home safe and clean

Cherry 2-in-1 Bladeless Fan and Air Purifier can clean air up to 30 square meters area coverage giving your loved ones a clean air circulation.  It has moisture resistant isolation to balance conditions of humidity. Secure source of clean air with its H13 HEPA Filter that improves air quality, reducing the risk of respiratory conditions. Moreover, parents may feel less worry knowing that their family are protected. Having a bladeless fan reduces the possibility of grabbing fingers or other objects, making it safe for children.

The ease of a smart home

Cherry 2-in-1 Bladeless Fan and Air Purifier has a smart Wi-Fi app control capability that can be used with the Cherry Home app. From the amount of airflow as well as different speed, everything can be controlled from the tip of your finger. On top of that, you can remotely monitor and manage the device from anywhere. Creating convenience and comfort for your home.

Sleek, stylish and premium design

Its bladeless, sleek and premium design follows the trend of modern home interior. For minimalist themed spaces, it is simple to modify the appearance and atmosphere to meet your current needs. Since it is quieter, you can welcome guests with peaceful ambiance. This also makes it ideal for people who want to vary things up or move around frequently.

A tidy, clean and well-ventilated home increase clarity which boosts productivity.

Grab Cherry 2-in-1 Bladeless Fan and Air Purifier for ₱7,359.

Check this out at:

Cherry Shop PH: www.cherryshop.com.ph

Improving productivity and empowering farmers: Coca-Cola Foundation and PHILSURIN Solidify Partnership for Sustainable Production

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Coca-Cola Foundation Philippines and the Philippine Sugar Research Institute Foundation (PHILSURIN) entered into an agreement to help boost the productivity of small sugarcane farms and increase the income of sugarcane farmers in Negros. 

The partnership will support the research and development of high yielding varieties and disease-free planting materials, and the establishment of a breeding facility to sustain the development of these HYVs for distribution to farmers.

Since 2018, Coca-Cola Foundation Philippines, the social investment arm of Coca-Cola in the Philippines, has been partnering with PHILSURIN, a non-profit organization that aims to promote the development of the sugar industry by conducting research and development activities to improve the productivity, quality, and competitiveness of small sugarcane farms. The grant provided by Coca-Cola Foundation Philippines in 2018 for its Adopt-a-Seed Project upgraded PHILSURIN’s DNA research equipment for Variety Fingerprinting and faster disease diagnosis which then led to the production and distribution of disease-free and pure planting materials that can be harvested early and resulted to 50%-60% increase in the production of small sugarcane farms and consequently, the income of recipient farmers.

The new agreement aims to establish a 10-hectare seed farm for PHILSURIN varieties; as well as hybridization and ripening sheds, both of which will augment the production of more high-quality seed canes and allow access for small farmers to avail of clean and pure planting materials. Due to climate change and increased land conversion to commercial areas, sugarcane farmlands have been decreasing in size, so high-yielding seed canes would be critical to increase and sustain the productivity of existing ones.

“A good crop starts from a good seed. At PHILSURIN, we believe that even if there is less land to plant sugarcane compared to previous years, as long as we can increase their productivity through high-quality seed canes and proper training on good farming practices, then we can help assure the continuing livelihood of our sugarcane farmers and support local sugar production which is important for our local economy and consumers in general,” said Maria Regina B. Martin, Director General of PHILSURIN “That is why I am grateful to partners like the Coca-Cola Foundation Philippines for their support to this Project and for our enduring partnership that would make a significant impact on the lives of our farmers and their families and our local economy in Negros.”

The two provinces of Negros are major producers of sugar in the Philippines but small sugarcane farmers in these areas are considered the most vulnerable stakeholders in the local sugar industry as they continue to face challenges in terms of resources, market, and technology. Partnerships and linkages that support the development of local sugar sector are critical to promoting the welfare of this vulnerable group.

“Coca-Cola is committed to partnering with PHILSURIN for the benefit of sugarcane farmers and their communities, consistent with our purpose of refreshing the world and making a difference for the communities we serve,” said Antonio del Rosario, Coca-Cola Foundation Philippines Chairman. “Like PHILSURIN, we believe in the important work of increasing productivity of small sugarcane farms through advanced research and technologies and of improving the welfare of farmers and their families.”

Coca-Cola Foundation Philippines also has programs and initiatives in Western Visayas that support the conservation of critical watersheds, water for agriculture, water access for sanitation and health, and sustainable waste management solutions for communities.