- Regional insurtech Igloo, GCash and Malayan Insurance continue to strengthen existing partnership with the launch of a new travel insurance product
- GCash Travel Master with COVID-19 offers comprehensive coverage for personal accident, emergency medical treatment, hospital cash allowance, travel inconvenience benefits, and COVID-19 protection
- It is the fourth product launched under the partnership between Igloo and GCash
- Reprise in travel after pandemic lockdowns drive tourism in the Philippines with 85% of the Philippines’ GDP attributable to domestic travel
Igloo, a regional insurtech company, recently introduced Travel Master with COVID-19, a comprehensive travel insurance product that can be purchased on the GCash e-wallet in partnership with leading local underwriter Malayan Insurance. This new product offers coverage for personal accident, emergency medical treatment, hospital cash allowance, travel inconvenience benefits, and COVID-19 protection. With the rise in tourism as restrictions ease, Travel Master with COVID-19 will allow Filipinos to travel with the assurance of protection in the event of a medical emergency related to the pandemic.
As domestic travel continues to drive tourism in the Philippines, with 85% of tourism GDP coming from domestic travel, this new insurance product will provide Filipinos with the necessary coverage to safely travel to local destinations. Mario Berta, Country Manager for the Philippines at Igloo, explained that this product will be an “affordable, yet comprehensive product, that addresses common travel risks including contracting COVID-19.”
It will offer coverage of up to PHP 2,500,000 for personal accident with emergency medical treatment for COVID-19, PHP 4,000 for hospital cash allowance due to COVID-19, and PHP 50,000 for travel inconvenience. Additionally, it also provides value-added features such as car rental protection of up to PHP 500,000 and sports activities extension of up to PHP 100,000.
The product is supported by 24/7 worldwide travel assistance in partnership with Assist America for the medical needs of the insured.
| GCash Travel Master with COVID-19 powered by Igloo |
| Topline benefits |
| Personal Accident with EmergencyMedical Treatment for COVID-19 | Up to Php 2,500,000 |
| Hospital Cash Allowance due to COVID-19 | Up to o Php 4,000 |
| Travel Inconvenience | Up to Php 50,000 |
| Value-added benefits |
| Car Rental Protection | Up to Php 500,000 |
| Sports Activities Extension | Up to Php 100,000 |
Available through GCash’s GInsure marketplace, premiums start at Php 950 for local or inbound, Php 970 for Asia, and Php 1,190 for worldwide travel with up to a 90-day maximum coverage period.
GCash Travel Master with COVID-19 is the fourth product launched under Igloo and GCash’s partnership. In September 2021, the partners launched the first Online Shopping insurance in the market, followed by Mobile Insurance products and Pet Insurance in 2022.
