FINANCIAL TECHNOLOGY (fintech) firms target to help increase insurance penetration in the country through microinsurance products offered through online channels or insurtech. Insurtech firm Igloo Country Manager Mario Berta said in a webinar on Wednesday that they primarily offer granular insurance coverage through its distribution platform partners, including GCash, Etiqa Life and General Assurance Philippines, […]
Tag: insurance
Worst COVID outbreak leaves Taiwan insurers bracing for more than $1 billion in claims
TAIWAN’S worst coronavirus disease 2019 (COVID-19) outbreak has left the island’s insurers bracing for more than $1 billion in claims that the financial regulator is urging them to honor. The head of the Financial Supervisory Commission (FSC), Huang Tien-mu, has ordered insurers to pay out on valid COVID-related insurance policies after they faced criticism from […]
Team Philippine members all insured until rest of the year
ALL members of the Philippine team seeing action in the ongoing 31st Southeast Asian (SEA) Games in Hanoi, Vietnam have been insured until the rest of the year. This after the Philippine Sports Commission (PSC) and Pioneer Insurance have partnered to cover all members of the 1,300 national delegation in Hanoi that included not just […]
DeFi Insurance Platform Uno Re Launches Cover Portal
New York, NY, April 19, 2022 – (SEAPRWire) – Uno Re ( http://unore.io/ ), a decentralized insurance platform, will launch its Cover Portal on April 23, 2022. Accessible through Uno Re’s dApp, the Cover Portal addresses an underemphasized need in DeFi space: easy access to insurance. For the first time, DeFi users can insure their crypto-assets in a few simple […]
Insurance firms to assist wooden boat operators
OWNERS of wooden boats used for tourism-related activities can now have a better chance of starting over whenever disasters strike, after the Capitol persuaded insurance firms to cover wooden boats.Cebu Gov. Gwendolyn Garcia announced this development in a meeting attended by tourism stakeholders at the Provincial Capitol on Friday, April 8, 2022, according to Sugbo […]
Pandemic boosts insurance, investment awareness among Filipinos
FILIPINOS are becoming more aware of and committed to increasing their insurance coverage and investments as the pandemic brought to light the importance of preparing for the unexpected, industry experts said. In a BusinessWorld Insights session titled “Growing Your Money and Finding the Best Insurance for You,” experts said younger Filipinos as well as overseas […]
PDIC resolves more deposit claims, loan accounts in 2021 as process goes online
PHILIPPINE Deposit Insurance Corp. (PDIC) settled 19,184 deposit insurance claims and resolved over 30,000 loan accounts of closed banks in 2021, the Department of Finance (DoF) said in a statement on Tuesday. PDIC President and Chief Executive Officer Roberto B. Tan said in a report to Finance Secretary and PDIC Board Chairman Carlos G. Dominguez […]
IC monitoring PhilHealth, PCIC’s shift to new accounting standard
THE Insurance Commission (IC) is monitoring government-run health and crop insurance agencies as they adopt the Philippine Financial Reporting Standards 4 (PFRS 4) accounting standard, the Department of Finance (DoF) said. The commission is keeping an eye on both the Philippine Health Insurance Corp. (PhilHealth) and the Philippine Crop Insurance Corp. (PCIC), the DoF said […]
ZhongAn Online Released 2021 Annual Report
HONG KONG, Mar 25, 2022 – (ACN Newswire via SEAPRWire.com) – ZhongAn Online P & C Insurance Co. Ltd. (“ZhongAn Online” or “ZhongAn” or the “Company”, HKEx: 6060) released its audited annual report for the year ended December 31, 2021 (“the reporting period”). The Company leveraged its strengths in insurance technology and rich resources connected […]
Insurance industry posts growth in premiums, net income in 2021
THE INSURANCE SECTOR posted “significant” growth in various performance metrics in 2021, reflecting its recovery from the adverse effect of the coronavirus pandemic. THE INSURANCE INDUSTRY posted growth in premiums, income and benefits paid in 2021, data from the regulator showed. The Insurance Commission (IC) said in a statement on Thursday that life and nonlife […]
Commonwealth Insurance tops nonlife companies in terms of bond performance
COMMONWEALTH INSURANCE Co. (CIC) topped nonlife insurers in terms of bond performance in 2020, the Insurance Commission (IC) reported on Wednesday. The list ranks nonlife insurance companies on premiums on direct or bond business or premiums for bonds received by insurers before considering reinsurance ceded. CIC had the highest bond earnings in 2020 at P447.45 […]
Lomotos is the new Ronda king
1 of 2 TEAM NAVY Standard Insurance — ERNIE PENAREDONDO RONDA winner Ronald Lomotos of Navy Standard Insurance — ERNIE PENAREDONDO Navy Standard Insurance reigns supreme as team champs By Joey Villar BAGUIO CITY — Four years ago, it’s hard to imagine Ronald Lomotos winning the LBC Ronda Pilipinas title after he was disqualified due […]
Tugawin rules the Ronda Tarlac-Baler Stage Seven
BALER, Aurora — Ryan Tugawin was living a simple life with simple dreams as a farmer in Solano, Nueva Vizcaya. And then he discovered cycling and began to have dreams of grandeur. Carrying with him that ambition, Mr. Tugawin claimed the second stage win of his life as he reigned supreme in the 174.5-kilometer Tarlac-Baler […]
Carcueva of Go for Gold grabs the Ronda overall lead
By Joey Villar LUCENA CITY — Jonel Carcueva of Go for Gold went to the 11th LBC Ronda Pilipinas with a dream of becoming champion. The 26-year-old Medenilla, Cebu native could go home realizing it. Mr. Carcueva delivered a performance to remember to finish seventh in Stage Five in five hours, 17 minutes and 49 […]
Oconer-Oranza duo leads Navy Standard Insurance in Ronda
1 of 2 Defending champion George Oconer — GEORGE OCONER 2019 champion Ronald Oranza — RONDA PILIPINAS SORSOGON CITY — Defending champion George Oconer and 2019 titlist Ronald Oranza will try to spearhead the Navy Standard Insurance team minus its former team captain as they race in the 11th LBC Ronda Pilipinas, which hits the […]
Insurance demand to rise once restrictions are eased
MORE FILIPINOS may start buying life insurance products once the economy is under the most relaxed alert level amid excess liquidity in the market, BDO Life Assurance Company, Inc. President and Chief Executive Officer Renato A. Vergel de Dios said. “As we move to Level 1, I anticipate that there will be an uptick [in […]
Pru Life UK offers health management solutions to CIMB clients through app
PRU LIFE UK on Tuesday launched a distribution agreement with CIMB Bank Philippines, Inc. for the insurance company’s first digital bank insurance partnership in the country. Through its app Pulse, Pru Life will extend its health management solutions to CIMB customers, while Pulse app users can access CIMB’s deposit, savings and credit products. The partnership […]
PLDT Global, Kwik.Insure team up for OFW insurance
PLDT Global, Kwik.Insure team up for OFW insurance PLDT Global Corp. on Thursday said it has partnered with online marketplace Kwik.insure to provide overseas Filipinos with access to insurance products. Under the partnership, PLDT Global, through its mobile application Free Bee, is offering free two-minute calls to individuals who are customers of PLDT, Smart, and […]
Regional Insurtech Igloo and Vietnam’s AhaMove strengthen partnership with 3 new insurance products including hospital cash allowance to protect its drivers
Igloo, one of Southeast Asia’s fastest-growing insurtech continues to deliver affordable and accessible insurance coverage in Vietnam with 3 new insurance products through its partnership with AhaMove, Vietnamese on-demand delivery platform 3000 drivers will receive a 60% discount on Hospital Cash Allowance insurance coverage, as part of a community initiative from Igloo and Ahamove to protect […]
Why buying life insurance is an act of love
While the COVID-19 pandemic has changed our lives in the most uncertain ways, there’s one thing Sun Life gold awardee Teresa Gerona is sure of: We must plan and prepare for the future. She shares this timely nugget of wisdom, “By getting insured, you sleep well at night knowing that in case the inevitable happens, […]