Igloo, a regional insurtech company, together with the Philippines’ largest mobile network, Smart, has introduced phone protection plans for Smart’s 55 million subscribers. This partnership aims to enhance customer experience and provide multiple avenues for device protection, particularly in a country where social media usage is notably high.
Roberto Vea, Commercial Lead at Igloo Philippines, remarked,
“In the Philippines, 84.4% of the population own smartphones, and individuals spend nearly four hours daily on social media, well above the global average of two and a half hours. As a highly connected and social nation, the importance of these devices for communication, productivity, and entertainment is undeniable.”
“Recognising the essential role of these devices and the need to safeguard them, Igloo has partnered with Smart to introduce phone protection plans, providing our customers with peace of mind,”
Roberto added.
Smart subscribers gain exclusive access to Phone Protect, where they can purchase a phone protection plan from Igloo with their preferred coverage and duration. The plans offer protection against accidental and liquid damage and include professional repair and service at authorised centres for the Basic tier, with additional protection against losses due to theft and robbery for the Plus tier.
Plans are available at a low cost for one year’s coverage, aiming to be affordable and comprehensive. The insurance plan integrates into the checkout process, allowing customers to review the plan details, associated premium, and terms and conditions before finalising payment. This ensures customers have a clear understanding of the additional cost and the benefits it adds to their transaction, enhancing their overall experience.
Igloo’s gadget protection and cracked screen protection products have become popular segments in the country, with over 15.8 million policies sold through various distribution platforms since January 2023. From consumer finance to e-commerce, Igloo has been working to provide insurance to various sectors in the Philippines and across Southeast Asia.
One of its recent partnerships with Skyro and Salmon provided protection access to the underbanked segment, many of whom rely on digital lending companies for instalment purchases.
Additionally, in collaboration with MSME enabler Growsari, Igloo piloted the Personal + Business Protection plan. This initiative aims to cover over 200,000 sari-sari stores across the country with financial assistance in case of unwanted incidents arising from natural calamities, such as floods from torrential rains.
Igloo Philippines’ Roberto stated,
“At Igloo, we believe that to provide insurance tailored to the needs of its market, partnerships are crucial in enabling broader audience reach while offering diverse coverage options. With our partners, we can continuously improve and innovate our offerings to serve as many people as possible.”
Featured image credit: Edited from Freepik
