Singapore-based insurtech Igloo has partnered with the Philippines’ mobile network Smart to offer phone protection plans for its growing 55 million subscriber base in the Philippines.

Igloo said in a statement on Monday that this partnership not only furthers Smart’s commitment to enhancing customer experience but also highlights Igloo’s mission to provide as many avenues to device protection as possible for Filipinos, especially with the country being one of the social media capitals in the world.

“In the Philippines, 84.4 percent of the population own smartphones, and individuals spend nearly four hours daily on social media, well above the global average of two and a half hours,

“As a highly connected and social nation, the importance of these devices for communication, productivity, and entertainment is undeniable,” said Roberto Vea, Commercial Lead at Igloo Philippines.

Recognizing the essential role of these devices and the need to safeguard them, he said Igloo has partnered with Smart to introduce phone protection plans, providing our customers
with peace of mind.

According to the statement, Smart subscribers gain exclusive access to Phone Protect where they can purchase a phone protection plan with their preferred coverage and duration.

It offers subscribers protection against accidental and liquid damage and includes professional repair and service at authorized centers for the Basic tier and additional protection against losses due to theft and robbery for the Plus tier.

Plans start as low as PHP 125 ($2.13) for one year coverage, making this 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 the plan details, associated premium, and terms and conditions before finalizing payment.

This transparency ensures customers have a clear understanding of the additional cost and the benefits it adds to their transaction, enhancing their overall experience.

“We’re excited to expand access to device protection products with Smart, as it aligns with our goal to democratize and enhance the experience of protecting your devices,

“We’ve worked to make every aspect—from customer experience to pricing, coverage, purchase, and claims—easy and convenient. Partnering with Smart allows us to reach the widest possible audience,” Vea explained.

It is noted that Igloo and its partners’ gadget protection and cracked screen protection products have become some of the most popular segments 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 working to provide insurance to various sectors in the Philippines and across Southeast Asia.

One of its most recent partnerships with Skyro and Salmon provided protection access to the underbanked segment, many of whom rely on digital lending companies for installment purchases.

Additionally, in collaboration with Growsari, an micro, small and medium enterprises (MSME) enabler, Igloo piloted the Personal + Business Protection plan.

This initiative aims to cover over 200,000 sari-sari stores across the country with financial assistance in case of unwanted incidents arising from natural calamities,
such as floods from torrential rains.

“At Igloo, we believe that to provide insurance tailored to the needs of its market, partnerships are crucial in enabling broader audience reach while offering diverse coverage options,

“With our partners, we can continuously improve and innovate our offerings to serve as many people as possible,” Vea said.

Igloo noted its collaboration with Smart and other partners is part of its mission to expand its reach across Southeast Asia and provide innovative insurance solutions to nearly 700 million people in the region.

Igloo is a regional full-stack insurtech firm headquartered in Singapore.

It has offices in Singapore, Indonesia, Thailand, The Philippines, Vietnam, and Malaysia and tech centers in China and India.

With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create business to business to consumer (B2B2C) insurance solutions for platform companies and insurance companies.

The firm has partnered with over 75 well-known brand names across the markets in various verticals, including insurance, telecommunications, e-commerce, hospitality, health tech, and financial services.

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