The Palawan Group of Companies and the Philippine Crop Insurance Corporation (PCIC) have formalized a strategic partnership through a Memorandum of Agreement. This collaboration is aimed at strengthening crop insurance access, streamlining payouts, and advancing financial inclusion for millions of Filipino farmers.
Addressing Challenges Faced by Farmers
Filipino farmers are central to the country’s food supply, yet they remain highly vulnerable to natural and economic risks. Typhoons, droughts, pests, and crop diseases regularly threaten their livelihood. While crop insurance serves as protection, many farmers struggle to access payouts due to limited banking infrastructure in rural areas.
In 2024, PCIC insured over 4.2 million farmers, representing a 7.76 percent increase from 2023. Total insurance coverage amounted to ₱141.561 billion. Despite this progress, farmers continue to face difficulties when claiming their benefits. Limited access to banks, long travel times, and high transaction costs make the process burdensome for many, especially those in geographically isolated communities.
Palawan Group’s Nationwide Network
To address these challenges, the Palawan Group is leveraging its nationwide network of more than 3,500 Palawan Pawnshop, Palawan Express Pera Padala branches. These branches are strategically located across the country and remain open on weekends and holidays, making them accessible for farmers who need to claim their insurance payouts without delay.
The group also provides digital access through its PalawanPay mobile wallet app. With PalawanPay, farmers can receive funds, pay bills, and manage financial transactions directly from their mobile devices. This innovation reduces reliance on traditional banks and gives farmers the convenience of managing money from anywhere.
Faster and More Convenient Payouts
PCIC President Atty. Jovy C. Bernabe emphasized the benefits of this collaboration for farmers, stating: “This will reduce delays, burdens, and ensure that our farmers receive their benefits in a faster, cheaper, and more convenient way. They save on transportation costs to reach the nearest bank, and more importantly, they will no longer be forced to rediscount their checks at unreasonable rates.”
This approach helps remove long-standing barriers, ensuring that farmers receive timely financial assistance when it matters most.
Combining Physical and Digital Access
The Palawan Group applies its “BrickTech” strategy, combining physical accessibility with digital convenience. By blending branch-based services with mobile technology, the group is modernizing how government programs such as crop insurance reach farming communities.
This partnership is not just about providing payout channels. It represents a shift toward responsive and technology-driven public service delivery, ensuring that government aid can effectively reach remote and underserved areas.
A Commitment to Farmers
Palawan Group executives highlighted the importance of the partnership as a long-term commitment to Filipino farmers.
Lisa Lou Castro-Sabado, Chief Business Development Officer of the Palawan Group, said: “We believe that farmers are the backbone of our nation. Because of their hard work, we enjoy nutritious meals every day. Yet many remain vulnerable to the threats of nature without adequate protection. This partnership is much more than a business agreement. It is a shared commitment to uplift and empower our agricultural sector.”
PalawanPay CEO Third Librea also underscored the importance of bridging financial gaps through technology: “Our farmers work tirelessly to feed the nation, yet their livelihoods remain among the most fragile. With PalawanPay, we’re building a bridge that connects farmers to the fast, reliable disbursement of insurance claims, serbisyong matatag, maaasahan, mapagkakatiwalaan nasaan man sila sa Pilipinas (reliable, dependable, and trustworthy service that reaches every corner of the Philippines).”
Angelita M. Castro, Co-founder and Deputy Chairman of Palawan Group, added: “We’re proud to partner with PCIC and serve our underserved communities. We believe this collaboration marks the beginning of a broader rollout of meaningful, inclusive solutions that benefit Filipino farmers everywhere.”
Toward Inclusive and Resilient Systems
As climate risks and financial inequality continue to threaten the agricultural sector, the partnership between Palawan Group and PCIC comes at a critical time. By making crop insurance payouts more accessible and convenient, this initiative helps reduce waiting times, improves transparency, and strengthens financial security for farmers.
Through this collaboration, both organizations aim to empower farming communities, enhance productivity, and promote a more inclusive financial ecosystem that supports the nation’s most vital workforce.
For more information, go to Palawan Pawnshop and PalawanPay Websites.
