Igloo, Akulaku, UnionBank launch microinsurance in the Philippines

PA products will be available on UnionBank's and Akulaku's platforms.

Singapore-based insurtech platform Igloo, e-commerce platform Akulaku and UnionBank of the Philippines will be offering microinsurance services in the Philippines, according to an announcement.

Personal accident (PA) products will be available on UnionBank’s API Marketplace and Akulaku’s platforms. The products are available with three, six, nine and 12 month plans.

Igloo will also be launching single disease, home, business, internet security and privacy, and pet insurance products, in the Philippines by the latter half of 2020, with the target of introducing a new product every month.