Skyro has partnered with insurtech firm Qoala to offer purchase protection at checkout.

Customers can now add insurance protection to their purchases as they apply for instalment loans, following a recently formalised memorandum of agreement between the two firms.

The integration provides Skyro users with three distinct options: Gadget Protection, Merchandise Protection, and an Extended Warranty.

These plans cover accidental or liquid damage for devices and household appliances, such as refrigerators and washing machines.

Furthermore, the extended warranty offers protection that continues after the initial manufacturer’s warranty period ends.

Yernar Ashimov, Skyro’s Head of Key Accounts, explained that the partnership prioritises reliable digital financial services to ensure customers feel confident that their purchases remain secure.

Harshet Lunani, CEO and Founder of Qoala, highlighted the mission of accessibility, stating,

“By working together, we’re bringing simple and relevant protection options closer to every Filipino at the point where they are making important purchasing decisions, helping them feel more secure and supported in their daily lives.”

The service specifically addresses the risks associated with instalment-based buying, where a damaged or malfunctioning product can cause significant financial stress.

Customers can now access these protection options at participating Skyro partner stores across the country.

Both companies aim to bolster the financial stability of consumers paying for essential electronics over time by incorporating insurance directly into the lending workflow.

Featured image by Skyro.