Damage to mobile devices can be stressful, inconvenient, and expensive for users.
In 2021, there were about 82.3 million people in the Philippines using their mobile phones who are vulnerable to the top two common causes of phone damage: dropping them on the ground, or unknowingly letting them fall from their pocket.
To protect the users from the considerable costs from these incidents, unified insurer Etiqa Philippines and insurtech company Igloo collaborated to launch the gadget insurance for every Filipino.
The new plans are available online—the Cracked Screen Protection and Electronics Protection Plans can now be accessed through Shopee. Once a client purchases a mobile device or accessory through Shopee, they can easily top up or purchase the insurance before check out. The policy may then be activated through the Igloo Portal.
“The work from home and homeschool setup during the pandemic has allowed many to realize that gadgets are more than just status symbols. These devices have become a ‘new normal’ necessity for people to continue with their education, careers, businesses, and other activities,” Etiqa President and CEO Rico Bautista said.
“However, getting mobile insurance usually comes as the last thing in the buyers’ minds since they have often spent so much already on their phones. We understand their concerns and want our customers to have a safety net if, in case, an unfortunate incident occurs, and their gadget becomes damaged,” he added.
These affordable phone protection plans underwritten by Etiqa Philippines are among their first of many efforts to dive into the insurtech world to offer unified life and non-life insurance products to Filipinos.
“Etiqa is proud to partner with Igloo. Our values are aligned in offering insurance for every Filipino, and is emphasized in Etiqa’s Humanizing Insurance tagline. This collaboration is a good example of two innovative companies coming together to meet the changing needs of digital users today,” said Head of Group and General Insurance of Etiqa Glenn Navea.
To make it even more accessible to customers, other products from Etiqa and Igloo are available on GCash.
GCash members can avail of Phone Screen Protect (PSP) and Full Phone Protection (360), an affordable phone protection plan, under GInsure.
Catering to Filipinos who are on a tight budget, phone screen protection plans range from P21 to P209 monthly or P230 to P2,410 annually, while 360-degree full phone and tablet protection plans range from P29 to P310 monthly or P329 to P3,590 annually.
“Making immediate replacement for damaged gadgets is impossible for many. However, mobile insurance might just be the best lifesaver for that,” Igloo country manager Mario Berta said.
“For a very affordable price and digital technology, our customers can go back to using their mobile phones without having their lives disrupted,” he added.