Singlife Philippines has launched two new features in its mobile application, aiming to offer customers more affordable and convenient ways to settle their insurance premiums. The updates include an annual payment option and in-app payments via QRPH.

The new annual payment feature allows customers to make a single, one-time payment to cover a full year of insurance.

According to the company, this provides a significant saving for customers. They can reduce their total premium cost by up to 17% compared to making recurring monthly payments.

This option is available for several of the company’s products. This includes its 100-in-1 Protection Plan and Protect from Medical Costs plans.

The second feature introduces in-app payments using QRPH. This function offers a quick and secure method for paying premiums with the benefit of zero transfer fees.

The QRPH feature is compatible with most major banks and e-wallets. It will be able to provide customers with greater flexibility in how they manage their payments.

Lester Cruz, Chief Executive of Singlife Philippines, commented on the strategy behind the new features.

He noted the company aims to change the common perception that insurance is “extremely complicated and only for a privileged few.”

“With these new features, we’re making protection more practical and more accessible,” Cruz stated.

The introduction of these digital payment options reflects a broader trend in the insurance industry to leverage technology to simplify processes and make products more attainable for a wider audience.

Featured image by benzoix via Freepik.