Smartphone insurance product Mobile 360 launches in the Philippines
Singapore-based insurtech firm Axinan and non-life insurer company Mercantile Insurance Co. have announced that they are launching a smartphone insurance product in the Philippines called Mobile 360. The insurance product is accessible via Axinan’s igloo app.
Mobile 360 covers entire phone protection, inclusive of the screen, camera, battery, accidental and liquid damage protection. That means risks such as screen crack, screen damage, LCD damage, and the like will be covered. Consumers have the option of making maximum claims of 2 repairs per year or 1 replacement.
Pricing begins at PHP 999 per year, with a 1-year duration of coverage. The Mobile 360 is available both for old and new smartphones under any telco. Mobile 360 will be initially available in Metro Manila, and will roll out nationwide in the future.