Because the pandemic continues to trigger emotional and mental well-being, Filipinos have turned to their dogs for a way of companionship and motivation. Aside from recording the very best ownership of dogs in Asia last 12 months, the Philippines also posted essentially the most variety of Google searches on pet adoption and pets on the market.
As more Filipinos change into pet owners, the demand for dog-related services and products also increases, with pet insurance being one among more continuously spoken about topics in community groups. Nevertheless, the ignorance on the supply of pet insurance keeps dog owners from understanding how it might actually profit the dog and the owner.
Pet owners can now easily access protection plans for his or her pets on digital platforms. One such product is the Malayan Pet Care insurance, available for purchase through GCash.
Zimba Aldiano, caring for 4 “aspins” (asong Pinoy) and member of Dog Lovers Philippines Facebook community group, expressed her interest in getting Malayan Pet Care insurance when she saw it in her GCash app.
“My dogs are aged seven, two, and half-year old. My experience with them taught me that vet bills can easily be costlier than my very own healthcare expenses, especially that my hospital bills are covered by health maintenance organizations (HMO) and life insurance. It’s good to know that we’re beginning to have the choice to avail of comparable products for our pets, however it’s so recent that I still have to learn more about it before purchasing one.”
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Regional insurtech firm Igloo, the corporate facilitating the Pet Care offering of Malayan Insurance, leverages big data, machine learning, and artificial intelligence to deliver people-first, easy, and inexpensive insurance products. Except for Pet Care Insurance, the insurtech company also offers Online Shopping Insurance and Phone Protection Insurance through GCash.
Igloo also goals to develop more social impact programs within the Philippines. The insurtech company seeks to guard gig staff through its Rider Protection Program with FoodPanda and the growing Micro SME community through UnionBank’s SeekCap platform.
“Filipinos love their pets and so they are sometimes considered a part of the family. They’ve made the pandemic more bearable for a lot of, that is why it’s highly relevant to bring insurance solutions that may protect pets the identical way Filipinos would want their relations to be,” said Mario Berta, Country Managing Director, Igloo Philippines.
“Bringing in pet insurance to the market, in partnership with Malayan Insurance and GCash, is an example of how we deliver modern products that reply to the needs of our customers,” he added.