GCash makes insurance for Overseas Filipino Workers (OFW) more accessible
Committed to making financial solutions more accessible to Filipinos wherever they may be, the #1 Finance Super App GCash, partners with Pioneer Insurance to launch its product for Overseas Filipino Workers (OFW) available through GInsure.
The Balik-Manggagawa or Direct-Hired Overseas Filipino Worker (OFW) Insurance provides financial security in case of accidents, disabilities, medical evacuations, repatriation of mortal remains, and other unexpected events.
Filipinos aged 18 to 63 years old who have a direct valid employment contract and employer abroad can enjoy coverage worth $32,000 (approximately PHP 1.76 million) when they buy the insurance through the GCash app for as low as $18 (approximately PHP 990).
The user-friendly interface of GInsure makes the purchase fast and easy. All they have to do is open the GInsure Marketplace in the GCash app, choose the insurance product offered by Pioneer Insurance, provide the necessary details, and receive their policy and official receipt real-time. The end-to-end process of issuance does not have any waiting period.
Since current Philippine policies require OFWs to be physically present to be able to purchase life protection products from local-based companies, this recent tie-up offers a practical and convenient way of getting insurance. This minimizes the worries of Filipinos who wish to have a financial safety net but are currently working and residing outside the country. The immediate family members of OFWs may also avail of this insurance product for their loved ones abroad.
“We remain committed to improving the daily lives of Filipinos through our suite of financial products wherever they may be. By partnering with Pioneer Insurance, we make it easier for Filipinos to stay protected even when they are abroad as they work tirelessly for their families back home,” said Winsley Bangit, GCash VP for New Businesses.
The partnership between GCash and Pioneer Insurance was solidified through a ceremonial MOA signing held on November 24. Signatories included from GCash: VP for New Businesses, Winsley Bangit and GInsure Head, Joseph Nino Young; and from Pioneer Insurance: Pioneer Group Head, Lorenzo Chan Jr. and Leslie Chua, Migrant Workers Head.
“This partnership will enable Pioneer to expand its reach to our kababayans around the world as it provides them with affordable reliable insurance that can respond to their emergencies abroad,” Pioneer Group Head Lorenzo Chan Jr. revealed.
GCash continues to expand its services that cater to the 10 million Filipinos who are earning a living abroad. The fintech company allows GCash users to enjoy the features of the app using international SIMs with the beta launch of GCash Overseas in Australia, Canada, Japan, Italy, United States of America, and United Kingdom.
Additionally, OFWs can send remittances to their loved ones back home with the 40+ remittance partners of GCash all over the world such as MoneyGram, Remitly, Wise, Sendwave, and Western Union.
GCash is available for free on Google Play, App Store, and Huawei App Gallery. OFWs can register an account through an active and roaming Philippine SIM or an international SIM. (PR)
