InLife and GCash Partnership Raises Women’s Role in the Digital Economy

“Our partnership with GCash, the largest FinTech platform in the country, is the latest and, by far, the widest net we are casting in our financial inclusion agenda for women. GCash breaks the barriers for the millions of the unbanked to avail themselves of financial services and health solutions at the most convenient and safe way. The Covid-19 pandemic has shifted the attitudes and behavior favorably toward getting adequate healthcare and insurance coverage. And data shows that it is the women who are active seekers not necessarily for themselves, but for their husbands, children, or parents. Our partnership with GCash, the largest FinTech platform in the country, is the latest and, by far, the widest net we are casting in our financial inclusion agenda for women. GCash breaks the barriers for the millions of the unbanked to avail themselves of financial services and health solutions at the most convenient and safe way. It is our hope that millions of Filipinos will enjoy peace of mind knowing that they have life and health insurance coverage for themselves and their loved available through GCash.” ~Nina D. Aguas, InLife Chairperson

InLife and GCash Partnership

InLife, the first, largest and only mutual Filipino life insurance in the country in partnership with GCash, the largest fintech platform in the country, advocates women empowerment by promoting financial inclusion through technology. Watch the launch of the partnership as it happens here, Partnership Launch. Together with like minded organizations, InLife will continue to empower women by providing opportunities when it comes to securing their health and financial future.

InLife and GCash Partnership

Insular Life (InLife) recorded P196 million worth of transactions made through GCash from January to December 2021. This came from forty-six thousand transactions that were recorded using the GCash app for payments for various InLife insurance products.

Nina D. Aguas, InLife Chairperson

InLife and GCash Partnership

But more than a channel to collect premium payments, the partnership between InLife and GCash serves a more meaningful purpose – inclusion.

Empowering Women Through Financial Inclusion

“This has allowed them access to relevant products ranging from life insurance to health care coverage through InLife and InLife Health Care, respectively. We are providing more Filipinos access to get covered more quickly and conveniently, giving them and their loved ones peace of mind. This is another step forward in our pursuit of financial inclusion – where we strive to make financial services more accessible to all Filipinos, especially for the unbanked and underbanked. Through our app, they now have access to digital financial services – even as the banking penetration remains low. Usage of our app is at an all-time high, as people now think of GCash as a digital life hack and more than just an e-wallet.” ~Martha Sazon, GCash President and CEO

Martha Sazon, GCash President and CEO

Ms. Aguas noted that because of its reach and wide use, GCash is very suitable in influencing the health and financial security of the bigger communities, especially those who are financially excluded.

InLife and GCash Partnership

In her message during the event, GCash President and CEO Martha Sazon said that their partnership with InLife has enabled them to bring affordable and accessible insurance coverage to everyday Filipinos.

InLife and GCash Partnership

Ms. Sazon pointed out that their partnership with InLife is also bringing another much-needed and timely service for GCash users.

InLife and GCash Partnership

Ms. Sazon shared that their partnership comes during a significant point in GCash’s history when its user base has grown to over 55 million or over 70 percent of the adult population in the Philippines.

Inspired by the Sheroes Movement

"We realized that online storefronts are viable distribution channels to reach more women who are looking for affordable protection products for life and health for their family. While tech is not usually a field women are associated with, our team at GCash is proof that it can happen – with women making up around half of our employee base.” ~Noemi G. Azura, IHC President and CEO

Noemi G. Azura, IHC President and CEO

IHC President and CEO Noemi G. Azura disclosed that their experience in the InLife Sheroes Movement, InLife’s women’s advocacy program, made them realize the importance of digital channels to reach Filipino women.

InLife and GCash Partnership

In a nationwide study conducted by InLife in 2018 for its Sheroes program, it learned that Filipino women are the primary caregivers in the family, including extended ones.

InLife and GCash Partnership

She added that digital technology is effective in terms of promoting awareness about the program, and in delivering educational activities on health and personal finance.

InLife and GCash Partnership

Ms. Sazon said that they are celebrating their partnership at a special time – Women’s Month.

Addressing Challenges in Financial Inclusion

InLife and GCash Partnership

During the launch, InLife and GCash executives also took the time to discuss the challenges of financially empowering women and how both companies can address them.

Kim Pineda, AVP and Head of Financial Services, Distribution, BPO &CICO for Enterprise GCash (Mynt - Global Fintech Inovation, Inc.)

Geraldine Pascual, Vice President and Head of Digital Sales Distribution, Insular Life

Tricci Rose Sadian, Head of Sales and Marketing Division, Insular Health Care

Insular Health Care Head of Sales and Marketing Division Tricci Rose A. Sadian; InLife Vice President and Head of Digital Sales Distribution Geraldine G. Pascual; and GCash Assistant Vice President and Head of Financial Services, Distribution, BPO & CICO for Enterprise Kim Pineda shared their insights on financial inclusion for women. They also discussed the various products and services of InLife and GCash that cater to women.

For more information about Insular Life, visit www.insularlife.com.ph.

About The Insular Life Assurance Company, Ltd

Insular Life (InLife) is the first, largest, and only mutual Filipino life insurance company in the country with over 111 years of uninterrupted service. We apply over a hundred years of experience in financial protection, risk management, savings, and investment to help you make confident decisions for you and your loved ones.

As a mutual life insurance company, our accountability is to our policyholders. They can be assured of being protected by a company that has an asset base of over P148 billion and net worth of P37 billion. We have a nationwide presence in 53 branches all over the country, and an expanded digital footprint to serve our customers, wherever and whenever they want. Our success is anchored on the growth and security of our partners, policyholders and beneficiaries, because we exist to offer a lifetime for good for everyone. For more information, visit www.insularlife.com.ph.

About GCash

GCash (G-Xchange, Inc.) is the #1 Financial App in the Philippines. Through the GCash App, customers can easily purchase prepaid airtime; pay bills at over 1.3k partner billers; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 4.5M partner merchants and social sellers; cash-in and cash-out at over 170k partner agents; and get access to savings, credit, insurance and invest money all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.).

GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs impacting more than 55 million Filipinos in the country today.

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Wednesday, March 9, 2022

InLife and GCash Partnership Raises Women’s Role in the Digital Economy

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