Key partnership furthers the insurtech’s goals in expanding access to innovative protection products in the Philippines
- The partnership of Igloo and the Philippines’ largest mobile network furthers the insurtech’s mission to provide insurance for all–and this includes comprehensive and affordable device protection
- There are 59.4 million smartphone users in the Philippines in 2024, a number that is expected to grow to 91 million by 2028
- From consumer finance to e-commerce, Igloo continues to facilitate protection products tailored to the needs of Filipinos and Southeast Asians
In its ongoing endeavor to make insurance accessible and affordable for all, regional insurtech company Igloo, in collaboration with the Philippines’ largest mobile network Smart, has unveiled phone protection plans tailored for its rapidly expanding 55 million subscriber base.
This strategic partnership not only underscores Smart’s dedication to enhancing customer satisfaction but also underscores Igloo’s commitment to offering diverse avenues for device protection to Filipinos, especially in a country renowned as one of the global hubs for social media engagement.
“Smartphones are ubiquitous in the Philippines, with 84.4% of the population owning them, and individuals spending nearly four hours daily on social media, well above the global average of two and a half hours. Given the essential role these devices play in communication, productivity, and entertainment in our highly connected and social nation, safeguarding them is paramount,” remarked Roberto Vea, Commercial Lead at Igloo Philippines. “Recognizing this need, Igloo has partnered with Smart to introduce phone protection plans, ensuring peace of mind for our customers.”
Smart subscribers now have exclusive access to Phone Protect, enabling them to select a phone protection plan tailored to their preferences in terms of coverage and duration. The plan offers protection against accidental and liquid damage, along with professional repair and service at authorized centers for the Basic tier, and additional coverage against losses due to theft and robbery for the Plus tier.
With plans starting as low as P125 for one year of coverage, Igloo’s offering stands out as one of the most affordable and comprehensive gadget care products available in the market.
The insurance plan seamlessly integrates into the checkout process, allowing customers to review plan details, associated premiums, and terms and conditions before finalizing payment. This transparency ensures customers have a clear understanding of the additional cost and benefits, thereby enhancing their overall experience.
“We’re thrilled to broaden access to device protection products in collaboration with Smart, as it aligns with our mission to democratize and enhance the device protection experience. We’ve streamlined every aspect—from customer experience to pricing, coverage, purchase, and claims—to be easy and convenient. Partnering with Smart enables us to reach a broader audience,” explained Vea.
The Value of Partnerships in Ensuring Insurance Access for All
Igloo and its partners’ gadget protection and cracked screen protection products have garnered immense popularity in the country, with over 15.8 million policies sold through various distribution platforms since January 2023.
From consumer finance to e-commerce, Igloo has been at the forefront of providing insurance solutions to various sectors in the Philippines and across Southeast Asia. Its recent collaboration with Skyro and Salmon has extended protection access to the underbanked segment, many of whom rely on digital lending companies for installment purchases.
Furthermore, in partnership with Growsari, an MSME enabler, Igloo has piloted the Personal + Business Protection plan, aiming to cover over 200,000 sari-sari stores across the country with financial assistance in the event of incidents arising from natural calamities, such as floods from torrential rains.
“At Igloo, we firmly believe that partnerships are essential for tailoring insurance to the needs of the market, enabling broader audience reach while offering diverse coverage options. With our partners, we continuously strive to improve and innovate our offerings to serve as many people as possible,” emphasized Vea.
Igloo’s collaboration with Smart and other partners is integral to its mission of expanding its reach across Southeast Asia and providing innovative insurance solutions to nearly 700 million people in the region.
