INSURANCE PLATFORM Kwik.insure is working with GCash to enable car owners to purchase policies through the fintech platform.
Kwik.insure said car owners will be able to purchase mandatory liability insurance and comprehensive car insurance through GCash.
“There is a steady increase in the number of car owners here in the country and this has motivated us to help Filipinos more when it comes to keeping them safe on the road,” Kwik CEO said. .insure, Hamilton Angluben, in a press release on Sunday. .
The service is accessible through GInsure in the GCash mobile app.
“After clicking on their preferred insurance policy, they only need to provide their full vehicle details to see all of their options,” Kwik.insure said.
The insurance tech startup launched its online platform earlier this year, allowing users to receive electronic policies directly from insurance companies.
GCash’s Chairman and CEO said the new partnership aligns with the company’s goal of democratizing financial services.
Car sales rose 14% year-on-year to 26,456 units in November, according to data from the Philippine Chamber of Automobile Manufacturers, Inc. and the Truck Manufacturers Association.
Vehicle sales in November topped last year’s sales total after the industry sold 240,642 units in the first 11 months, up 22.7% from the 196,197 units sold in the the same period last year.
Total industry sales fell 40% year-over-year to 223,793 units in 2020 due to shutdowns declared to curb the pandemic. — JP Ibanez