New ways of providing insurance are becoming increasingly important to expand financial protection for vulnerable and underserved Filipinos. These groups face the highest risks yet remain traditionally excluded from financial services.
This was emphasized by GCash, the Philippines’ leading finance app, during a recent banking and insurance summit. The company highlighted how digital platforms can help address the country’s protection gap, particularly as insurance penetration remains below target levels.
According to GCash VP and Head of its digital insurance platform GInsure, Willy De Ocampo, innovation in digital financial services is key to reaching more Filipinos. The Philippines recorded an insurance penetration rate of 1.79 percent at the end of 2025, improving from 1.67 percent the previous year. Despite this growth, the figure still falls short of the country’s 2 percent target and lags behind other Southeast Asian markets.
By embedding insurance into everyday financial activities, GCash aims to break down the traditional barriers that prevent wider adoption.
“Many Filipinos see insurance as necessary, but they often feel the process is complicated or expensive,” De Ocampo said. “We want to make insurance easy for our customers and show them that protection is something they already have access to.”
GInsure has already enabled more than 20 million Filipinos to access insurance as of the fourth quarter of 2025. This marks an increase of over 40 percent since the first quarter. The platform’s reach also highlights its inclusivity, with 75 percent of users located outside Metro Manila and 76 percent belonging to socioeconomic classes D and E.
These figures underscore the growing demand for accessible and affordable insurance solutions across different segments of society.
More Inclusive Protection
To address the protection gap, GCash continues to introduce new ways of delivering insurance through its GInsure platform. The company is focusing on embedded and free insurance solutions that are seamlessly integrated into everyday app transactions.
“Our goal is to create innovative and relevant protection embedded in everyday transactions,” De Ocampo said. “By integrating insurance directly into financial services people already use, we reduce barriers and help more Filipinos prepare for emergencies.”
One example is the Express Send Scam Insurance, powered by Chubb. This offering provides protection from unauthorized transactions caused by hacking, phishing, smishing, malware, and similar scams. Users can receive coverage of up to ₱15,000 for as low as P30 for 30 days.
The policy also extends protection to unauthorized transactions on supported online merchants and app-based payment platforms, including Lazada, Shopee, and the Play Store. This added layer of security reflects the increasing importance of safeguarding digital financial activities.
In addition to paid options, GCash also offers free insurance bundled with select digital transactions. These include applying for loans and purchasing mobile load within the app.
Fuse Financing Inc., the lending arm of GCash, provides free health insurance underwritten by Oona Insurance. This benefit is available to borrowers using the GLoan feature for loans worth ₱500.00 and above. The coverage includes hospitalization allowance accessed through GInsure.
Meanwhile, users who purchase mobile load can also receive free health and accident insurance. This offering is underwritten by FPG Insurance and provides coverage of up to ₱30,000, including up to ₱2,500 in hospital assistance. The protection remains valid for up to 30 days with every load purchase.
These initiatives demonstrate how embedded insurance can make protection more accessible without requiring complex application processes.
Strengthening Financial Inclusion Through Partnerships
GInsure recently joined financial institutions, insurers, regulators, and technology providers at the 2026 Asian Banking & Finance and Insurance Asia Summit. The event focused on key developments shaping the region’s financial services sector, particularly in digitalization, inclusion, and risk management.
Through active participation in industry discussions, GCash continues to position itself as a leader in digital financial innovation. The company is working closely with partners across various sectors to expand financial protection and improve resilience among underserved communities.
As digital adoption continues to rise, embedded insurance solutions are expected to play a critical role in closing the protection gap in the Philippines. By integrating insurance into everyday financial behavior, platforms like GCash are helping redefine how Filipinos access and benefit from financial protection.
For more information, visit https://www.gcash.com.
