Empowering Women Entrepreneurs in the Philippines: How Insurtech Igloo Promotes Inclusivity through Technology

In celebration of National Women’s Month, Igloo, a pioneering regional insurtech, is recognizing the relentless drive of women who are reshaping industries, challenging norms, and redefining success.

Women across the Philippines are taking charge of their entrepreneurial journeys, with 75% of sari-sari stores owned by women, as reported by Packworks’ business intelligence tool, Sari IQ. This powerful presence highlights the indispensable role women play in the nation’s economic progress.

Igloo is committed to supporting these trailblazing women by offering the financial protection and resources necessary to safeguard their businesses. Through strategic collaborations with various organizations, Igloo provides personalized insurance products that help women entrepreneurs manage unforeseen risks, enabling them to focus on growing their businesses with confidence.

Breaking Barriers for Women Entrepreneurs

“At Igloo, we believe that financial protection should be available to everyone, especially the women entrepreneurs who form the backbone of many communities,” said Roberto Vea, Igloo’s Head of Commercial for the Philippines. “By embedding our insurance solutions into digital platforms that women are already familiar with, we’re breaking down barriers and ensuring they have the security to grow their businesses and secure their futures.”

This approach helps make financial protection accessible to women, particularly those in remote areas or with limited access to traditional insurance services. Through innovative digital solutions, Igloo is offering affordable and comprehensive microinsurance that covers everything from business interruptions to personal accidents and health emergencies.

Strengthening MSMEs with Growsari

A key partnership that Igloo has fostered is with Growsari, a technology-driven platform that empowers small retailers and sari-sari store owners to digitize their operations and expand their businesses. This collaboration has led to the development of the Personal + Business Protection Plan, which provides up to P150,000 in coverage for accidents and up to P35,000 in financial assistance for damages due to natural disasters such as floods and fires.

Igloo and Growsari are also working on expanding access to these protection plans, enabling sari-sari store owners to offer insurance coverage to their customers and surrounding communities. This not only protects the store owners but also helps ensure that communities benefit from the financial security these women entrepreneurs provide.

Introducing NegosyoCare: A Safety Net for Women Entrepreneurs

Igloo’s introduction of NegosyoCare in 2024 is another significant step in offering women entrepreneurs a critical safety net for their businesses. Available through GCash’s Insure Marketplace, NegosyoCare provides affordable coverage for fires, accidents, and damages starting at just P160 per month or P525 per year.

Underwritten by Malayan Insurance, NegosyoCare offers benefits such as up to P50,000 for accidental death, permanent disability, and dismemberment. It also covers medical reimbursements of up to P5,000, fire cash assistance of P10,000, and protection against burglary and payroll loss, with up to P10,000 in coverage. This accessible financial support ensures that women entrepreneurs can continue to grow and sustain their businesses, even when unexpected events occur.

Driving Economic Resilience Through Digital Solutions

By integrating insurance products into familiar digital platforms, Igloo is empowering women-led businesses to secure their livelihoods, protect their families, and contribute to the resilience of their local communities. Through these innovative solutions, Igloo is helping women entrepreneurs not only survive but thrive, becoming key pillars of economic stability. The company’s efforts are paving the way for a future where financial protection is seen as a fundamental right for every woman pursuing her entrepreneurial dreams.

Igloo’s vision goes beyond offering financial products—it’s about fostering a community where women entrepreneurs can thrive with the confidence that they are supported by the tools and protection they need to succeed.

To learn more about Igloo’s products and services, visit IglooInsure.com.