Regional InsurTech Igloo, together with the Philippines' largest mobile network Smart, has announced phone protection plans for its growing 55m-strong subscriber base.
This partnership not only furthers Smart’s commitment to enhancing customer experience, but also highlights Igloo’s mission to provide as many avenues to device protection as possible for Filipinos, especially with the country being one of the social media capitals in the world, Igloo said in a statement.
"In the Philippines, 84.4% of the population own smartphones, and individuals spend nearly four hours daily on social media, well above the global average of two and a half hours. As a highly connected and social nation, the importance of these devices for communication, productivity and entertainment is undeniable," said Igloo Philippines commercial lead Roberto Vea. "Recognising the essential role of these devices and the need to safeguard them, Igloo has partnered with Smart to introduce phone protection plans, providing our customers with peace of mind."
Smart subscribers gain exclusive access to Phone Protect where they can purchase a phone protection plan with their preferred coverage and duration. It offers subscribers protection against accidental and liquid damage and includes professional repair and service at authorised centres for the Basic tier and additional protection against losses due to theft and robbery for the Plus tier.
Plans start as low as PHP125 ($2.13) for a one-year coverage, making this one of the most affordable and comprehensive gadget care products available in the market.
The insurance plan seamlessly integrates into the checkout process, allowing customers to review the plan details, associated premium and terms and conditions before finalising payment. This transparency ensures customers have a clear understanding of the additional cost and the benefits it adds to their transaction, enhancing their overall experience.
From consumer finance to e-commerce, Igloo has been working to provide insurance to various sectors in the Philippines and across Southeast Asia. One of its most recent partnerships with Skyro and Salmon provided protection access to the underbanked segment, many of whom rely on digital lending companies for instalment purchases.
Additionally, in collaboration with Growsari, an MSME enabler, Igloo piloted the Personal + Business Protection plan. This initiative aims to cover over 200,000 sari-sari stores (small neighbourhood sundry shops) across the country with financial assistance in case of unwanted incidents arising from natural calamities, such as floods from torrential rains.
Igloo is a regional full-stack InsurTech firm headquartered in 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.
Source: asiainsurancereview.com
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