Igloo protects Southeast Asia's multi-billion dollar coffee industry with innovative weather insurance for farmers

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Regional insurtech Igloo expands its blockchain-based parametric index insurance to coffee farmers in Southeast Asia, showing commitment to covering more underinsured communities and industries after successful product implementation with rice farmers.

Southeast Asia - a part of what is called the coffee belt - is one of the biggest coffee producers in the world. While Vietnam and Indonesia are responsible for the majority of global coffee output, the Philippines is also an important global producer with industry revenue expected to reach US$6.7 billion in 2023, according to statistics portal Statista. The local market is also expected to grow annually by 5.69% until 2025.

Coffee production is not only a long-term and labor-intensive investment, but it is also one that is constantly under threat of climate hazards which provide difficult growing conditions due to extreme climate–affecting farmers and disrupting supply chains.

“Weather Index Insurance is a product that we introduced in order to protect farmers and communities across Southeast Asia from unforeseen climate hazards. While initially introduced for rice farmers, we’ve seen from its success the product’s scalability to cover other sectors like coffee farms, which is one of the robustly growing segments in the region,” said Mario Berta, Igloo’s Country Manager for the Philippines.

Protecting the coffee industry and its farmers

There are currently several insurance products on the market for coffee farmers. However, they share a common problem of incompatibility with the real, frequent risks faced by coffee farming families. The damage assessment process is also complex and time-consuming, which creates the risk of additional financial hardship for farmers.

The Weather Index Insurance eliminates the need to individually verify claims thereby reducing transaction costs and enabling faster payouts to farmers. This is done by collecting and monitoring rainfall data to calculate claims using pre-assigned values for losses due to natural causes. The business rules governing claims payout being hosted on a public blockchain help leverage the attributes of transparency, consistency, and unbiasedness, thereby making the setup credible.

While Weather Index Insurance is currently available in Vietnam for rice and coffee farmers, Igloo expects to roll out Weather Index Insurance to more countries in Southeast Asia including the Philippines soon.

“The Philippines being an agricultural powerhouse and one that is at a higher risk of suffering from the impacts of climate change, is a country we believe will benefit from having Weather Index Insurance. We are currently working with our partners to make this product available in the country and other markets in the near future. In addition, we are also exploring expanding the product’s coverage to include other indices such as earthquakes,” Mario added.

 

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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/.

Challenging times ahead—are you life-secured?

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Achieving life security can mean different things to different people. For some, it can mean having a happy family, a profitable business, or owning a house. For others, it could mean a stable, high-paying job that allows them to live comfortably.

Whatever your definition of life security, achieving this is no simple task—it takes a lot of work, dedication, and focus. What’s more, nobody really knows what the future holds so we must prepare ourselves for anything. Fortunately, there are things you can do to help shape your future for the better. Here are some tips on how you can achieve life security during these uncertain times:

Keep your goals in mind

As you work towards your goals, you’ll have to overcome many obstacles along the way. But as long as you never lose sight of why you are doing this in the first place, you’ll always get back up again. Having this attitude is the first step towards your goals, whether it’s working for a big company or buying your own house.

Build an emergency fund

Nobody knows when emergencies will happen, so it is important that you start an emergency fund as soon as possible. Experts recommend having three to six months’ worth of monthly expenses in your emergency fund. Prioritize building this fund first before investing in anything else, and make sure to not use it for anything that isn’t an emergency. You can even create a separate savings account for it

Borrow with a purpose

Loans can become powerful financial tools when used smartly. For example, when you use a loan to fund a business launch or expansion that becomes profitable, or if you invest it in education to further develop your skills and income-generating capacity. These are examples of purposeful borrowing.

Do not borrow money without a purpose. Using a loan to purchase expensive designer bags or clothing, or to go on an unnecessarily expensive vacation, are not purposeful uses. Always think about how the loan can advance you in your path towards life security.

Secure your retirement

If you happen to have the extra money, set it aside for your retirement. The sooner you start saving up for your retirement, the better, as time and aging cannot be reversed. A good rule of thumb is to try to determine how much you think you’ll be spending once you’re retired and try to grow your extra money with a combination of cash savings, property, and investments.

Consider long-term investments

Investing your money is an excellent way to secure your financial future, since this not only safeguards your hard-earned savings from inflation, it also generates returns. How much returns you get depending on your investment strategy. You will need to look into the different kinds of investments, and determine how much you are willing to invest, as different investments involve varying levels of risk.

If that sounds like too much work, that’s because it is—even seasoned investors get overwhelmed by all the planning, research, and investing. That’s why banks like EastWest offer different products and services that take away the hassle of investing yourself. With multiple investment options such as fixed income securities, government securities, bonds unit investment trust funds, and trust funds, EastWest has the right products and expertise to help you grow your funds, so you can focus on your dreams.

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About East West Banking Corporation

East West Banking Corporation (EastWest) is a Filipino-owned universal bank. EastWest is a subsidiary of Filinvest Development Corporation (FDC), one of the country’s leading conglomerates with a diverse range of interests including real estate, banking, hospitality & tourism, infrastructure, power generation, and sugar. It is not affiliated with any foreign financial institution which may bear the same name.

Redefined Accessibility: realme C-Series Sets New Benchmark for Entry-Level Smartphones

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Get the perfect all-rounder smartphone to reflect your personality

without breaking the bank!

Customization has always been part of the smartphone experience, from selecting our preferred alarms to choosing the quirkiest phone case that best reflects who we are. Set to take smartphone personalization to another, even more exciting level is realme's C-Series.

Positioned to redefine the entry-level segment, this collection presents four feature-packed models that each cater to a certain type of personality. Here, we run down each one to help you pick the perfect choice for you.

If you want Fun for Everyone, go for the realme C30s

Do you have multiple group chats wherein you’re always mentioned and sought after? Are your friends always messaging you whenever you miss a hang-out session? You might just be the life of the party, and the realme C30s might just be the smartphone for you.

Never miss the action with the realme C30s’s amazing 5000mAh battery. It’s an astonishing capacity for its price that allows up to a full day’s use with up to 36 hours of standby time, 24.9 hours of calling, 58.7 hours of continued music playback, or up to 11.2 hours of total video playback. It presents a 6.5” large display as well that maxes out at 400 nits of brightness, with a good screen-to-body ratio of 88.7%, while avoiding being a smudge magnet. How’s that for a heavy-duty smartphone that stays clean and keeps you plugged in on the latest happenings at all times? It also comes in two colors: Stripe Blue and Stripe Black

Price: realme C30s (2GB+32GB): PHP 4,499 (from PHP 4,999) / realme C30s (3GB+64GB): PHP 4,999 (from PHP 5,499) / realme C30s (4GB+64GB): PHP 5,999

Images courtesy of @dani.cenxo

If you’re Fun and Stylish, select the realme C33

The realme C33 understands who you are as someone with the right mix of fun and style.

This smartphone comes out of the box with realme UI S Edition based on Android 12, and offers an outstanding 50MP AI Camera that can capture high-resolution images. This allows you to take a snap of your wackiest moments with friends or your hottest OOTDs, depending on your mood. What’s more, the realme C33 could be yours with an unmissable discount, and it comes in three, summer-perfect colors: Sandy Gold, Aqua Blue, and Night Sea.

Price: realme C33 (4GB+64GB): PHP 6,499 (from PHP 7,499) / realme C33 (4GB+128GB): PHP 7,999 (from PHP 8,499)

If you’re Chic and Classy, shine with the realme C35

Let your phone glow with you as the realme C35 comes in two aesthetic colors, Glowing Green and Glowing Black. Both options make use of a Dynamic Glowing design that gives off an effect when reflected on by light, ensuring that it shines with you as you slay in your most head-turning outfits.

The realme C35 features the first FHD+ Resolution Display on the C-Series as well that supports a wider array of pixels. This gives a more immersive viewing experience versus other phones in the same price segment.

Price: realme C35 (4GB+64GB): PHP 7,999 (from PHP 8,499) / realme C35 (4GB+128GB): PHP 8,999 (from PHP 9,499)

Images courtesy of @haute.joemar25

If you’re the Stylish Champion, reign supreme with the realme C55

You’re at the top of your game and you do not settle for basic. As the Stylish Champion, let your title belt be the realme C55.

Instantly coveted after its launch, the realme C55 is simply the real deal. It's realme's first mass-produced smartphone globally to have the Mini Capsule, a dynamic punch hole that presents expanding animation and helps you keep track of important stuff like charging & battery status, data cap usage, and step tracking. The realme C55 is also made even thinner for a more sophisticated and elegant look that goes with your iconic sense of style.

Price: realme C55 (6GB+128GB): PHP 8,999 / realme C55 (8GB+256GB): PHP 10,999

Still having a tough time deciding on which realme C-Series smartphone to get for yourself or your loved ones? Fret not as all variants of the realme's C-Series are available in all 5000+ realme stores and kiosks nationwide or online through realme’s official flagship stores in Shopee and Lazada.

Know which realme C-Series smartphone is the best for you by visiting the realme official website. Keep updated on the latest by following realme on Facebook and Instagram.

PASCUALLAB shares the #PascualLove with the children of WORLD VISION

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Three years since their partnership with World Vision started, PascualLab sponsors led by Vice President for Corporate HROD and Design Services & Corporate Affairs Mia Pascual Cenzon, finally met their sponsored children face to face, at a bonding activity during PascualLab’s anniversary month at the World Vision grounds in Quezon City.

To spread the #PascualLove as part of its CSR program Sowing to Empower, Educate, and Develop (SEED), Pascual Laboratories, Inc. (PascualLab) sponsor-employees spent a weekend of bonding over an art activity, talent showcase, group games, and basic health checks with children from World-Vision assisted communities in Malabon last May 6, 2023 at the World Vision grounds in Quezon City. PascualLab, a partner of international charitable institution World Vision since 2020, has been sponsoring children in less-fortunate communities in Malabon via the CHOSEN program. Through the program, these children were given the chance to pick their sponsors, essentially choosing people who can help them realize their wishes for education towards better lives amidst challenges including the current health crisis. Three years into the pandemic and during PascualLab’s anniversary month, the sponsors were finally able to be with the children who have CHOSEN them. Malabon plays a significant place in PascualLab’s history as the Pascual family traces its roots to this Northern part of Manila. PascualLab VP and CHOSEN sponsor Mia Pascual Cenzon shared: “PascualLab has always had a passion for CSR and a heart for family so we take every chance to help others through our health products and in more ways such as the CHOSEN program”.

TNT's viral SIM Registration video wins Best TV Ad in world's biggest ad website

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After racking up millions of views and drawing praises from netizens for its wit and creativity, the viral video of mobile brand TNT entitled “Tattoo” has been recognized as Best TV material by Bestads, the world's best global ad industry website.

Bestads selects the best advertisements in every medium each week from submissions all over the world, as judged by a top creative director or team.

The first Filipino video to top the Bestads list within the past three years, “Tattoo,” is part of TNT’s "Mag-SIM Reg Para Hindi SIM Dead" campaign and is one of three videos aimed at encouraging subscribers to register their SIMs to avoid permanent SIM deactivation and all its hassles.

Reminder of how good it feels to laugh

“Tattoo” was handpicked by guest judge Maria Devereux, Head of Innovation and Executive Creative Director at Accenture Song, North America.

“This film reminded me how good it feels to laugh,” noted the multi-awarded Los Angeles-based creative. “A simple idea that touched on a relatable pain point for anyone who hates the complexity of life admin, which as far as I can tell, is pretty much everyone,” she added.

"We are honored with this recognition from Bestads, which proves the power of creative storytelling to touch people and move them to action - while eliciting a good laugh,” said Francis E. Flores, SVP and Head of Consumer Wireless Business – Individual at Smart.

“This is a result of all the creativity, hard work, and the collaboration among the TNT and Smart teams as well as our partner agency, who are all committed to inform our subscribers about the importance of SIM Registration,” he added.

Over 40 million views across channels

In the clever and creative film, TNT sticks to its brand promise of delivering 'saya' or fun - even in a public service reminder that shows the universal pain points of dealing with administrative processes.

The video features a man visiting a remittance center to claim his cash but fails to provide his One-Time Password (OTP) for lack of a registered SIM. To prove his identity, he resorts to showing his graduation photo, driver's license, SSS ID, and birth certificate—all tattooed on his body! Watch the film here: https://www.youtube.com/watch?v=j6tCbApNWvA.

The video has garnered over 40 million views across social media channels like YouTube, Facebook and TikTok, with netizens praising it for being “unique,” “funny,” and “unskippable, effectively urging them to finally register their SIM.

Leader in SIM Registration

As of May 8, Smart and TNT continue to lead SIM Registration in the country with 44.9 million registered subscribers, which is 67.75 percent of their declared subscriber base.

With the recent announcement of the deadline extension of the SIM Registration Act, Smart continues to encourage subscribers to register their SIMs before July 25, 2023.

To register, TNT and Smart Prepaid subscribers can visit the https://simreg.smart.com.ph/ portal, while Smart Bro subscribers can refer to http://www.smart.com.ph/viewbroadbandsms for instructions on getting their OTP. Smart Postpaid users, on the other hand, are already considered registered based on the latest advice of DICT.

TNT is powered by Smart, the Philippines’ Fastest and Best Mobile Network according to Ookla, the global leader in mobile and broadband network intelligence. 

To learn more about SIM Registration, visit https://tntph.com/Pages/sim-reg.