GCash has partnered with Singapore-headquartered regional insurtech Igloo to deliver online shopping insurance plans for its growing online customer base.
GCash noted an increasing demand to go cashless and more merchants, and retailers are opting for the convenience of e-commerce; hence, most people use cash transfers. Thus, through this partnership with Igloo, GCash aims to provide peace of mind to its 46 million users while they shop online.
Check out Igloo’s online shopping insurance plans below:
• Bronze – PHP 15/month – Up to PHP 50,000 coverage
• Silver – PHP 24/month – Up to PHP 100,000 coverage
• Gold – PHP 30/month – Up to PHP 150,000 coverage
To check out the plans, go to the GCash app > GInsure > Igloo. Users also have the option for auto-renewal. With this option, the plan will auto-renew at the end of 1 month, and the renewal premium will be deducted from the user’s GCash wallet.
The Online Shopping protection is one of the first products that Igloo will be launching with GCash and its customers but will soon be rolling out more products with the e-wallet platform in the next six months that will be geared towards MSMEs, which are about 90% of the businesses in the Philippines.
Moreover, Igloo’s Online Shopping product is among its Cyber Protection vertical, securing financial loss arising directly from any online marketplace fraud. With its pioneering partner, GCash to GCash users will now be protected from any transaction they make via online marketplaces such as Lazada, Shopee, including Viber, and Facebook marketplaces as long as their payment was fulfilled via the GCash platform.
