REGIONAL insurtech Igloo has partnered with leading e-commerce platform Lazada to offer Filipino shoppers protection plans for their online purchases.

Igloo’s partnership with Lazada is part of its goal to increase insurance penetration by offering microinsurance products, designed to cater to the increasingly digital lifestyle of consumers in the Philippines and across the region. CONTRIBUTED IMAGE

"As the number of Filipinos engaging in online purchases continues to rise, it becomes increasingly imperative to provide them with protection throughout their entire shopping journey, extending support even after they've received their products," said Roberto Vea, commercial lead at Igloo Philippines.

In collaboration with Igloo, Lazada has introduced three comprehensive online shopping protection products for its electronics and beauty products. These protection plans are seamlessly integrated into the checkout process.

Before finalizing their payment, customers will be presented with a tailored insurance plan specific to the item they are purchasing. This includes a transparent display of the associated premium, ensuring a clear understanding of the additional cost that will be integrated into their total transaction.

The Electronic Protection and Gadget Protection products ensure extensive protection for all kinds of electronic products and gadgets from accidental and liquid damage, as well as loss due to theft or robbery. It also has the added benefit of professional repair and service at authorized centers. Both products are underwritten by Etiqa Insurance. For nonelectronic products, Igloo and Etiqa present Merchandise Protection plan, which protects orders from accidental damage and theft.

Additionally, Product Liability Protection addresses adverse reactions to beauty products such as cosmetics, lotions and bath essentials purchased on Lazada. Underwritten by Liberty Insurance, coverage encompasses protection against chemical burns and severe allergic reactions caused by product use.