As the Philippines enters the storm-prone “ber” months, Filipinos brace themselves for heavy rains, strong winds, and floods that often cause devastating losses. To help households stay protected, insurtech company Igloo and fintech lender Skyro have teamed up once again—this time to launch their fifth insurance product, designed to cover floods, fires, and personal accidents.
Climate Disasters and the Protection Gap
From overflowing rivers like Marikina’s to powerful typhoons such as Crising, Dante, and Emong, millions of Filipinos face repeated displacement and damage each year. According to the NDRRMC, nearly 9.7 million people were affected by combined storm and monsoon impacts recently.
Yet, insurance penetration in the Philippines—and much of ASEAN—remains below 10%. This leaves many families financially vulnerable, struggling to recover after disasters.
The Igloo–Skyro partnership aims to close this gap by making affordable, accessible coverage part of everyday financial services.
Skyro Personal Accident VAS: Coverage Made Simple
The new Skyro Personal Accident VAS is available to Skyro’s 700,000+ active loan customers nationwide. For a minimal premium, users can purchase the plan via the Skyro app—either directly or bundled with loan applications at dynamic pricing based on credit scores.
Coverage includes:
- Protection against fire and flood-related property loss
- Accidental death or disablement
- Daily hospital income
- Coverage for unprovoked murder and assault
- Accidental burial assistance
“This product ensures families don’t have to start from zero each time a typhoon strikes,” said John Chen, Igloo’s Country Manager for the Philippines and Thailand. “By embedding insurance into financial products, we bring protection closer to those who need it most.”
Insurance that Meets Filipinos Where They Are
For Skyro, the goal is to provide peace of mind when disasters hit unexpectedly. “Disasters don’t give families time to prepare financially,” shared Dmitriy Vavulidi, Head of Product at Skyro. “That’s why we’re offering coverage that’s simple, reliable, and easy to access.”
By combining financial technology with insurtech innovation, Igloo and Skyro continue to expand protection for underserved Filipinos—helping them face climate risks not just with resilience, but with real financial security.