The Philippine Crop Insurance Corporation (PCIC) and GCash have collaborated to improve the delivery of digital indemnity payments to insured farmers. The initiative aims to make transactions faster and more accessible in rural areas.
On January 24, PCIC president Jovy Bernabe and G-Xchange Inc. President and CEO Oscar Enrico Reyes Jr. signed a memorandum of agreement (MOA) in Taguig City. This partnership integrates the Funds Disbursement Service by GCash, allowing digital indemnity payments to go directly into farmers’ GCash wallets in real-time.
Bernabe said the initiative aligns with the government’s financial inclusion efforts and PCIC’s push for digitalisation. The new system speeds up financial assistance and reduces delays linked to traditional payout methods.
Beyond indemnity payments, the partnership connects farmers to GCash’s financial services, such as savings, investments, and microfinancing. This expansion strengthens financial stability, especially in remote areas with limited banking access.
The initiative builds on PCIC’s earlier collaboration with the Bureau of Fisheries and Aquatic Resources (BFAR) to extend financial insurance to Bantay Dagat volunteers. This year, BFAR insured 6,800 additional volunteers, marking a 47% rise from last year’s 3,545 beneficiaries.
The Bantay Dagat Insurance Programme, part of PCIC’s Agricultural Producers Protection Plan, covers agricultural stakeholders against risks like accidents, natural causes, and violence.
PCIC continues to provide insurance protection to farmers, fishermen, and livestock raisers against natural disasters, diseases, and pest infestations. The organisation remains committed to strengthening the agricultural sector through financial security and digital transformation.
Featured image credit: Edited from Freepik
