Igloo Partners with M Lhuillier to Expand Calamity Insurance Access Across the Philippines

The insurance plans provide financial protection against accidental death or disability and offer cash assistance when policyholders' homes are damaged by natural disasters or other covered events.

Insurance Coverage for Natural Disasters

The plans cover property damage caused by fire, lightning, earthquakes, typhoons, and floods. They also provide financial support to policyholders in the event of accidental death or disability.

The initiative aims to help more Filipino families access affordable financial protection, particularly in areas that are frequently affected by natural disasters.

Partnership Has Supported More Than 200 Families

Igloo and M Lhuillier said their partnership has already supported more than 200 families affected by flooding.

By using M Lhuillier's nationwide branch network, Igloo aims to reach customers who may have limited access to traditional insurance services.

Low Insurance Penetration in the Philippines

Igloo said insurance penetration in the Philippines stands at around 2%. This figure represents insurance premiums as a share of the country's gross domestic product (GDP), rather than the percentage of households covered by insurance.

The country also has an established microinsurance framework designed to improve access to affordable insurance products, particularly for low-income communities.

About Igloo

Igloo is a Singapore-based insurtech company that develops digital insurance solutions for businesses and consumers across Southeast Asia. The company works with partners to distribute insurance products through digital platforms and existing business networks.

About M Lhuillier

M Lhuillier is a Philippine non-bank financial services company that provides services such as money transfers, pawnshop operations, bills payment, and other financial solutions through its nationwide branch network.

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