In a proactive move to fortify consumer trust and ensure secure transactions, Igloo, a leading Insurtech firm, has partnered with Lazada, one of the Philippines' premier e-commerce platforms, to introduce protection plans tailored for Filipino online shoppers.
As the digital marketplace continues its exponential growth in the Philippines, online shopping has become an integral part of everyday life for millions. Currently, an estimated 38.9 million Filipinos engage in e-commerce activities, with projections indicating a surge to 55.8 million by 2025. Acknowledging this trend, Roberto Vea, Commercial Lead at Igloo Philippines, emphasizes the increasing importance of safe and secure online transactions.
Customized Protection Products
Lazada, in collaboration with Igloo, now offers a set of three specialized protection plans meticulously crafted to address the unique concerns of online shoppers, particularly in electronics and beauty products. Seamlessly integrated into the checkout process, these plans ensure transparency and accessibility for consumers navigating the digital marketplace.
The newly introduced protection plans offer comprehensive coverage tailored to the diverse needs of online consumers. For electronic and gadget purchases, options include Electronic Protection and Gadget Protection, underwritten by Etiqa Insurance. These plans safeguard against accidental damage, liquid damage, theft, and offer professional repair services at authorized centers.
Meanwhile, Merchandise Protection, also underwritten by Etiqa, extends coverage to non-electronic purchases, providing assurance against accidental damage and theft. This holistic approach underscores the commitment to ensuring the safety and security of all online transactions.
Prioritizing Consumer Safety in Beauty Purchases
Recognizing the importance of product safety in the beauty industry, Igloo and Lazada introduce Product Liability Protection, underwritten by Liberty Insurance. This plan specifically addresses concerns related to adverse reactions from cosmetics, lotions, and bath essentials. Coverage includes protection against chemical burns and severe allergic reactions, coupled with teleconsultations, medical reimbursements, and emergency hospitalization, offering consumers peace of mind with every purchase.
Empowering Consumers in the Digital Sphere
The partnership between Igloo and Lazada signifies a significant step forward in improving access to insurance and creating a more secure online shopping environment. By tailoring micro insurance products to suit the evolving digital behaviors of consumers, Igloo aims to increase confidence and reliability in e-commerce transactions.
