𝐆𝐂𝐚𝐬𝐡 𝐛𝐫𝐢𝐧𝐠𝐬 𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐚𝐜𝐜𝐞𝐬𝐬𝐢𝐛𝐥𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐭𝐨 𝐦𝐢𝐥𝐥𝐢𝐨𝐧𝐬 𝐨𝐟 𝐅𝐢𝐥𝐢𝐩𝐢𝐧𝐨𝐬

 𝐆𝐂𝐚𝐬𝐡 𝐛𝐫𝐢𝐧𝐠𝐬 𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐚𝐜𝐜𝐞𝐬𝐬𝐢𝐛𝐥𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐭𝐨 𝐦𝐢𝐥𝐥𝐢𝐨𝐧𝐬 𝐨𝐟 𝐅𝐢𝐥𝐢𝐩𝐢𝐧𝐨𝐬

𝘎𝘊𝘢𝘴𝘩 𝘣𝘳𝘪𝘯𝘨𝘴 𝘢𝘧𝘧𝘰𝘳𝘥𝘢𝘣𝘭𝘦 𝘢𝘯𝘥 𝘢𝘤𝘤𝘦𝘴𝘴𝘪𝘣𝘭𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘪𝘰𝘯 𝘵𝘰 𝘮𝘪𝘭𝘭𝘪𝘰𝘯𝘴 𝘰𝘧 𝘍𝘪𝘭𝘪𝘱𝘪𝘯𝘰𝘴

GCash enables affordable and seamless access to insurance products for millions of Filipinos.

The Philippines has historically lagged behind its counterparts in Southeast Asia regarding insurance penetration. According to data from the Insurance Commission (IC), the country's insurance penetration rate stands at 1.68% of GDP, compared with 3.3% in Thailand and 4.5% in Malaysia. Japan boasts an insurance penetration of 10%, while the global average rests at 7.2%.

This is the challenge that GCash, the leading finance app in the country, has been addressing as evidenced by the rapid growth of its insured user base to 7.8 million, marking a 140% year-on-year (YoY) surge. GInsure is the GCash in-app insurance marketplace. The fintech leader reported selling 28.3 million of insurance policies for the year, reflecting a 156% YoY growth as of the second quarter of 2024.

With this continuous growth, GCash has enabled more and more Filipinos to achieve a better and more secure financial future through its accessible and convenient insurance products right at their fingertips.

“We are pleased to see the significant growth in our GInsure platform. This reflects our ongoing commitment to financial inclusion and our mission to provide ‘Finance for All.’ Through GInsure, users can now manage unexpected expenses and help them be ready for a ‘rainy day’,” said GCash vice president and group head of new businesses Winsley Bangit.

As it marks 20 years of enabling financial inclusion for millions of Filipinos, the success of GInsure is part of GCash’s broader strategy to deliver comprehensive financial services that go beyond payments. From savings and investments to insurance and credit, GCash has evolved into a cutting-edge digital financial platform designed to meet the diverse needs of its users. The integration of these services into one app allows GCash to offer a seamless user experience, as well as a simpler application process by reducing the documents that a user requires to qualify for an insurance product, further encouraging the adoption of financial tools among Filipinos, especially the unbanked sector.

By integrating insurance products directly into the GCash app, the platform has made it easier for users to access various insurance options that cater to their specific needs—whether life, health, or travel insurance. This ease of access has been crucial in driving the adoption of insurance products among the previously uninsured or underinsured segments of the population.

As the leading fintech platform in the Philippines, GCash remains committed to driving financial inclusion and providing Filipinos with the tools they need to improve their financial health and independence. The continued growth in its user base and the increasing uptake of its insurance products underscore the platform's role in shaping the future of financial services in the country.

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𝐀𝐛𝐨𝐮𝐭 𝐆𝐂𝐚𝐬𝐡

GCash is the Philippines’ #1 Finance Super App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. Its mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only $5 billion unicorn in the Philippines.

GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.

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