Gigacover taps EXOASIA to promote digital insurance protection to informal sector – Back End News
Gigacover, a Singapore-based insurtech company, recently teamed up with EXOASIA Innovation Hub, a global management consultancy, to provide 360 digital insurance protection for Filipino freelancers, start-ups, and micro, small, and medium enterprises (MSMEs).
Under the partnership, all of EXOASIA’s community webinars, meet-ups, hackathons, incubations, accelerations, and follow-on events for freelancers and entrepreneurs will feature a segment on health and financial protection plans to increase awareness of these products.
“The concept of insurance being digital and dedicated for freelancers and self-employed workers are still novel to many Filipinos,” said Amerson Lin, CEO and co-founder at Gigacover. “For the longest time, the insurance we know circles around life, non-life, and health maintenance organizations (HMOs) — and you need an agent to get one.”
EXOASIA Innovation Hub is a global transformation ecosystem that connects professionals, organizations, and institutions to createa better future for everyone. Its three verticals of certification, incubation, and ecosystems aim to inspire, validate, and scale up solutions by solving local problems through alliances among entrepreneurs, organizations, and governments and leveraging on deep tech and global innovation ecosystems.
“The program aims to further educate, and make healthcare and insurance products more accessible, and affordable to those in the informal sector,” said Chesca Figueroa, country manager at Gigacover. “With this partnership, EXOASIA allows its community of founders, entrepreneurs, and digital nomads access such benefits without breaking the bank.”
“COVID-19 uncovered how under-insured Filipinos are,” said Mack Comandante, founder and CEO at EXOASIA Innovation Hub. “Freelancers, start-ups, and MSMEs are challenged with exorbitant premium costs of insurance and there’s not enough education on how, where, and what to look for in insurance providers. These are the problems we hope to solve through this partnership, where we educate and make affordable health insurance accessible to everyone.“