GCash and FPG Insurance team up to offer free health insurance with every prepaid load purchase, making financial protection a part of everyday transactions
PHILIPPINES – In line with the Philippines’ efforts to further boost the local insurance industry, GCash, the country’s leading finance super app, is introducing a new feature to unlock access to insurance for millions of Filipinos. The e-wallet is providing free health insurance, underwritten by FPG Insurance, every time eligible users buy prepaid credits for themselves using the Buy Load service.
“This initiative, powered by GInsure in partnership with FPG Insurance, reflects the commitment of GCash to making financial protection accessible to every Filipino, ensuring that even the simplest transactions, like buying prepaid load, come with the added security of health coverage at no extra cost,” said Winsley Bangit, vice president and group head of new businesses at GCash.
The country’s insurance penetration has been growing in recent years, but it remains below 2%. With millions of Buy Load users on the app primarily receiving mobile load, GCash sees an opportunity to protect more Filipinos, offering a valuable incentive beyond telecommunications.
Made possible by GInsure, every time eligible users make Buy Load transactions on the GCash app, they can also avail of the free health insurance coverage, empowering users to prepare for unexpected medical expenses due to accidents or hospitalization
“Beyond just financial assistance, this benefit ensures that users have funds to cover medical costs or compensate for lost income during recovery, helping prevent families from falling deeper into debt and alleviating financial struggles,” Ren-Ren Reyes, president and CEO of GCash mobile wallet operator G-Xchange, Inc.
The free health and accident insurance gives eligible users up to PHP 30,000 coverage and additional valuable benefits. For every load purchase, a user can automatically get PHP 10,000 in accidental death coverage, which can be accumulated up to a maximum of PHP 30,000 when making up to three separate eligible load purchases.
Users can also get income assistance when they’re hospitalized due to illnesses and accidents, allowing them to receive PHP 500 per day salary assistance for a maximum of 5 days. They can also get up to PHP 10,000 disablement benefit, providing the user or their beneficiaries a safety net.
GCash introduced this initiative in response to shifting user needs. With millions of Filipinos still hesitant to fully embrace digital transactions, they still rely on traditional offline methods. Now, with free health insurance seamlessly integrated into prepaid load transactions, users can enjoy more benefits when they go digital, making each purchase not just more convenient but also rewarding.
###
About FPG Insurance
FPG Insurance is one of the leading non-life insurance providers in the Philippines, committed to delivering innovative and accessible protection for individuals, families, and businesses. With over 67 years of service in the industry, FPG Insurance is known for its customer-first approach and innovative solutions. Its wide range of products and services includes motor insurance, personal accident insurance, cyber insurance, and home & condo insurance, designed to meet the evolving needs of every Filipino.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
No comments:
Post a Comment