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)

PALO, Leyte– One of the country’s biggest insurance companies is pinning high hopes of achieving its target for the year, thanks to the many infrastructure projects being undertaken by the Marcos administration.

Joseph Carandang, head of the sales and marketing division of the Pacific Union Insurance Company (PUIC), said that for this year, they are targeting to achieve P1.7 billion.
And for 2024, they are eyeing about P2.1 billion income, he said.

“Actually, we are one of the thriving industries during the pandemic. Construction is one of our biggest leverages because our biggest product is the contractor’s all-risk insurance or the bond,” Carandang said in an interview.

“And one of our biggest opportunities included the big projects undertaken by the previous administration of(former president) Duterte under his Build, Build, Build and now we have the Build Better More by the current administration of Pres. (Ferdinand Bongbong) Marcos, Jr. so we are taking advantage of the various constructions under the program,” he added.
Carandang was among the guests during the Christmas party held by the PUIC based here and headed by Ma. Agnes Costuna last Sunday (Dec.3).

The company, one of the leading non-life insurance companies, provides bonds to contractors undertaking government infrastructure projects.

But Carandang said that while they are happy with the positive growth of their company, what gives them more satisfaction is how their agents perform and their welfare.

“When it comes to income, we are very happy but the most important for us is the income of the agent. More than the income of the company, it’s really the agents that help us grow,” he said.

At present, the company operates in 35 key areas across the country and intend to open more offices.

Meantime, Carandang said that they are happy on the performance of their local branch being headed by Costuna.

In fact, they are seeing an increase in the ‘product’ income of the Pacific Union Insurance Co. in the region under the stewardship of Costuna.

For this year, the target of the company in the region is P120 million, of which 90 percent has been reached already.

Costuna said that they are doing their best to attract more clients and continue their position as the leading non-insurance company in Eastern Visayas.

“We are just happy that our clients are steadily growing,” she said.
(JOEY A. GABIETA/LIZBETH ANN A. ABELLA)