Atome has launched Atome Card Shield, an insurance plan developed with Chubb Philippines for its more than 3 million Atome Cardholders in the country, as announced on Atome’s official LinkedIn.
The plan combines online shopping protection with personal accident coverage for PHP 62 a month, or roughly USD 1.
Card Shield covers buyer and purchase protection for online shopping, online fraud and unauthorised transactions.
The deal also includes personal accident benefits of up to PHP 150,000, including accidental death while riding a motorcycle.
Cardholders aged 18 to 75 in good credit standing can activate the plan directly within the Atome app.
Around 80% of Atome’s Philippine cardholders are first-time cardholders who use the card mainly for everyday essentials.
Atome said Card Shield will be many of these customers’ first insurance product.
Mari Rachelle Canta, Country President of Chubb Philippines, said insurance has often been out of reach for everyday Filipinos due to cost or complexity.
That Card Shield reflects what the companies’ regional partnership was built to create.
Christian Eugene Quiros, President and Country General Manager of Atome Philippines, said the product adds to Atome’s existing card, lending, and savings services.
It positions the company as an all-in-one financial app for everyday Filipinos.
Part of a Broader Regional Push
Card Shield builds on a regional partnership Atome and Chubb first announced in March 2024 to co-create insurance products across Singapore, Malaysia, the Philippines, and Indonesia.
It first began with Bill Secure in Singapore.
Fintech News Philippines reported in 2024 that Atome planned to bring embedded insurance to the Philippines through the Chubb partnership, alongside plans to expand its loan book.
Atome has separately been expanding embedded insurance in the Philippines.
In July, it began offering travel insurance through the Atome app in partnership with Malayan Insurance. The insurance was also powered by regional insurtech Qoala, with plans starting at PHP 89.
Featured image: Edited by Fintech News Philippines based on an image by Atome via LinkedIn.
