Digital wallet player GCash and mobile-first life insurer Singlife Philippines have come together to give free insurance to over 20 million Filipinos.
The initiative will fall under GCash’s GInsure feature.
“Our vision is Finance For All, and we do this by providing meaningful digital financial solutions that empower our nation – so we can make Filipinos’ everyday lives better,” Chief Data Officer of GCash Jean-Francois Darre shared in a statement.
According to Darre, the launch of their GInsure feature is part of their ‘financial inclusion mission.’
“Launching GInsure was a key element in fulfilling our financial inclusion mission as we are now able to provide Filipinos with access to relevant financial protection from unforeseen events,” he explained.
Those who qualify for GInsure will be able to get a cash allowance for tests and hospitalization costs related to COVID-19 and Dengue. The promo, which is now in action, will provide 3 free months of coverage to eligible Globe Prepaid, Globe Postpaid, TM, and Globe at Home Broadband users.
Since launching the new feature, GCash has insured hundreds of thousands of Filipinos. However, the company notes it’s just the first step.
“In just a few months after launching inside the GCash app, we’ve already insured hundreds of thousands of Filipino lives. But this is just one small step towards insuring the tens of millions of Filipinos nationwide and around the world,” Darre said.
Those who don’t qualify for the promo can avail of other services – the GInsure CFDC can be availed for as low as P300 per year for up to P140,500 of coverage, P550 per year for up to P281,000 of coverage, or P700 per year for up to P421,500
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Image credit: GCash and Singlife