GCash Unveils All-in-One Insurance Solution

MANILA, Philippines—In 2021, it was reported that only half of Filipinos had insurance, with 56% citing financial constraints and 7% struggling to find suitable coverage.

GCash is partnering with trusted insurers to offer affordable and reliable protection for various needs, conveniently accessible through GInsure in the GCash app. This initiative aims to ease the financial burden on Filipinos and empower them to secure their future while addressing their present needs. Winsley Bangit, VP at GCash, highlights the importance of making insurance accessible and affordable for all.

“Many Filipinos are already working tirelessly to meet their daily demands, and we aspire to alleviate one burden from their shoulders. With GInsure, we empower them to seize the present while safeguarding their future, offering insurance solutions that are light on the wallet and easy to obtain.” Bangit stated.

Health and personal protection

Image Courtesy of GCash.

A study by the Philippine Institute for Development Studies revealed that the National Health Insurance Program in the country only covers 40% of total hospital costs on average, leaving individuals to bear significant out-of-pocket expenses. In response to this issue, GCash has partnered with Singlife Philippines to offer affordable health protection. For as little as PHP 79 per month and just three simple steps, insured users can receive PHP 250,000 in coverage for COVID-19, dengue, and accidents.

Furthermore, GCash’s GInsure, in collaboration with Cebuana Lhuillier, Sun Life, Singlife, Pru Life, Pioneer Insurance, and Generali, provides personal insurance that guarantees a regular monthly income to beneficiaries in case of disability or death. This personal insurance, which can be obtained in just three steps for as low as P10, serves as a safety net for family breadwinners.

Winsley Bangit, VP at GCash, emphasized that Filipinos, known for their family-oriented nature, often take on breadwinner roles. GCash’s insurance offerings aim to alleviate their concerns by ensuring financial security for their families, covering loss of income and medical expenses.

Worry-free travels

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As the trend of “revenge travel” gains momentum, travel disruptions have become more common. While travel insurance is not obligatory in many places, Filipinos can greatly benefit from the security it provides against unforeseen travel expenses such as trip delays, cancellations, baggage loss or damage, accidents, and illnesses.

Through a partnership with Standard Insurance and Malayan Insurance, GCash’s GInsure offers travel protection starting at just PHP 103, with a quick and hassle-free application process that takes less than three minutes to complete.

Business Tranquility

Image Courtesy of GCash.

In the Philippines, where Micro-, Small, and Medium-sized Enterprises (MSMEs) make up 99% of establishments, GCash, in collaboration with Malayan Insurance and Igloo, has introduced “Negosyo Insure.”

This affordable insurance product is tailored to protect small business owners with physical storefronts. For a monthly premium as low as PHP 160, it offers coverage of up to PHP 50,000 for personal accidents and safeguards against property damage or loss due to incidents like fire, burglary, and housebreaking. The goal is to provide MSMEs with peace of mind, allowing them to focus on growing their businesses without constant worry.

Roadway security

Image Courtesy of GCash.

In the bustling streets of Metro Manila, the past year saw an average of 157 car accidents, with minor injuries costing an average of PHP 71,000. Despite cautious driving, road mishaps remain a common occurrence. To address this issue, GCash has teamed up with reputable partners to provide car owners with affordable and easily accessible vehicle insurance.

For those seeking insurance alternatives beyond dealer options and second-hand car owners in need of coverage, GInsure offers a comprehensive solution. This includes both mandatory CTPL (compulsory third-party liability) insurance and comprehensive insurance options. GCash’s collaborations with Standard Insurance, Kwik.insure, FPG Insurance and BPIMS Insurance enable access to CTPL coverage, covering up to PHP 100,000 in potential liability. Additionally, partnerships with Standard Insurance and Kwik.insure offer comprehensive insurance, providing protection against possible damage and theft to vehicles.

Users may access GInsure on the GCash dashboard or find it under “Grow.”