Igloo, a regional insurtech, has partnered with the mobile network Smart, to offer affordable phone protection plans.
In a country where 84.4% of the population owns smartphones and spends nearly four hours daily on social media, protecting these devices is crucial.
“Recognizing the essential role of these devices and the need to safeguard them, this partnership aims to provide our customers with peace of mind,” said Roberto Vea, commercial lead at Igloo Philippines.
The new Phone Protect plans offer various levels of coverage. The Basic tier includes protection against accidental and liquid damage, with professional repair services at authorized centers. The Plus tier adds protection against theft and robbery. Starting at just P125 for one year of coverage, these plans are among the most affordable and comprehensive on the market.
Customers can seamlessly integrate the insurance plan into their purchase process. They can review the plan details, associated premium, and terms before finalizing the payment, ensuring transparency and enhancing the customer experience.
“This partnership allows us to reach a wider audience and aligns with our goal to democratize and enhance the experience of protecting your devices,” Vea said.
Since January 2023, Igloo’s gadget protection products have seen significant success, with over 15.8 million policies sold. This collaboration with Smart, boasting 55 million subscribers, is part of Igloo’s broader mission to provide innovative insurance solutions across Southeast Asia, aiming to serve nearly 700 million people in the region.
Beyond phone protection, Igloo has been actively expanding its insurance offerings in various sectors. Recent partnerships include providing coverage for digital lending customers and small businesses, demonstrating Igloo’s commitment to supporting the diverse needs of its market.