Igloo highlights the importance of democratizing access to device protection through the Smart Partnership

As part of its ongoing efforts to provide accessible and affordable insurance to all, regional insurer Igloo, together with the Philippines’ largest mobile network Smart, announced phone protection plans for its growing base of 55 million subscribers.

This partnership not only reinforces Smart’s commitment to improving the customer experience, but also underscores Igloo’s mission to provide Filipinos with as many options as possible to protect their devices, especially since the country is one of the social media capitals of the world.

“In the Philippines, 84.4% of the population owns a smartphone and citizens spend almost four hours a day 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,” noted Roberto Vea, Chief Commercial Officer at Igloo Philippines. “Recognizing the essential role of these devices and the need to protect them, Igloo has partnered with Smart to introduce phone protection plans, giving our customers peace of mind.”

Smart subscribers get 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 damage and flooding, and includes professional repairs and service at authorized services for the Basic level and additional protection against losses resulting from theft and robbery for the Plus level.

The plans start at a low of P125 for one year and are one of the most affordable and comprehensive gadget care products available in the market.

The insurance plan integrates seamlessly with the checkout process, allowing customers to review plan details, associated premiums, and terms and conditions before finalizing payment. This transparency provides customers with a clear understanding of the additional costs and benefits they add to their transactions, improving their overall experience.

“We’re excited to expand access to device protection products through Smart, as it aligns with our goal of democratizing and improving device protection. We’ve worked to make every aspect – from customer service to pricing, coverage, purchasing and claims – easy and convenient. Cooperation with Smart allows us to reach the widest possible audience.” Vea explained.

The value of partnerships in providing insurance for all

Products from Igloo and its partners for gadget protection and protection against cracked screens have become one of the most popular segments in the country – since January 2023, over 15.8 million policies have been sold through various distribution platforms.

From consumer finance to e-commerce, Igloo provides insurance to various sectors in the Philippines and across Southeast Asia. One of the company’s recent partnerships with Skyro and Salmon secured access to an underbanked segment, many of which rely on digital lending companies for installment purchases.

Additionally, in cooperation with Growsari, an entity supporting enterprises from the SME sector, Igloo conducted a pilot personal and business protection plan. This initiative aims to provide financial assistance to over 200,000 sari-sari shops across the country in case of untoward events arising from natural disasters such as floods caused by heavy rains.

“At Igloo, we believe that to provide insurance tailored to market needs, partnerships are key because they enable us to reach a broader audience while offering a variety of insurance options. Thanks to our partners, we can continually improve and innovate our offerings to serve as many people as possible,” Vea said.

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

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