Maya, a digital financial services provider, in partnership with M Pioneer Insurance Inc., launched SafeTrip travel insurance within the Maya app on Tuesday, giving Filipino travelers immediate access to insurance coverage with preferential pricing.
The M Pioneer SafeTrip insurance provides financial assistance to travelers in cases of unforeseen medical emergencies and mishaps.
The coverage includes emergency medical treatment, hospital cash, flight delays, emergency trip cancellations, baggage delays, lost baggage and travel documents, among other benefits.
Travelers can also avail enhanced plans which include coverage for pre-existing conditions, extreme activities, a cash bonus for delayed flights of four hours or more and inbound baggage delays.
The launch addresses recognized barriers to insurance adoption in the Philippines.
A PLIA PULSE study released this year showed that 90 percent of Filipinos overwhelmingly recognize the importance of insurance, but many defer purchases due to cost concerns and inconvenience.
“As we broaden financial health offerings beyond savings, credit and investments, insurance becomes an important pillar to address,” said Maya Group president and Maya Bank co-founder Shailesh Baidwan.
“Travel continues to grow, and SafeTrip brings critical protection directly into the Maya app, making it simple for Filipinos to safeguard themselves from unexpected costs, wherever they go,” Baidwan said.
