CashKO, the microinsurance arm of Philippine insurtech company RuralNet, now covers more than 6.1 million underserved Filipinos across 81 provinces.

The company built its “made-to-measure” model to shield low-income families from medical poverty, structuring coverage around final medical liabilities and funeral expenses, the moments when terminal illness can drain a family’s savings before a loss even occurs.

The push addresses a wide protection gap in the Philippines.

About 67% of adult Filipinos rank staying healthy as their most urgent personal concern, ahead of economic worries, according to an OCTA Research survey.

Yet national insurance penetration remains at just 2%, leaving informal-sector workers and rural communities exposed to predatory debt cycles when illness strikes.

Justin Arcenas, Founder and CEO of RuralNet, said the goal is to help families build genuine financial resilience “so that losing a breadwinner doesn’t mean starting back at zero.”

CashKO’s plans are co-designed with rural banks, cooperatives, and microfinance lenders, and the company’s digital infrastructure maintains a 97% claims approval rate with payouts 75% faster than the industry average.

CashKO, ranked the Philippines’ fifth-largest microinsurance provider in 2024, surpassed PHP 400 million in total claims paid across 33,000 claims in June.

Featured image: Edited by Fintech News Philippines based on an image by Magnific.