Gadget Insurance in the Philippines Made Easy by igloo App from Axinan and Mercantile

Like so many Filipinos who own gadgets, I also see my devices as an investment that's worth protecting.

My smartphones, laptops, and cameras - in particular - are essential tools in my profession as a technology blogger covering events in and outside the country all while consistently creating content the consumption of my followers and subscribers. Clearly, my gadgets are my important partners in accomplishing many of my immediate goals and relevant tasks.

This is reason why I'm frustrated by the fact that getting gadget insurance isn't particularly the most convenient thing to do here in the Philippines. I've tried it before and the process was tedious and time-consuming; You have to submit documents and go through the lengthy application procedure. In some cases, the terms and conditions can be so confusing and uneven that you'd feel better off not bothering to sign up at all.

It's really no wonder that less than 2% of smartphone owners in the Philippines care enough to enroll in some sort of gadget insurance -- and that's really sad considering the real benefits of this service.

Axinan, Gadget Insurance Philippines, Mercantile Insurance, igloo Gadget Insurance

Thankfully, last September 24, 2019 at Terraz in Zuellig Building, Makati City, Singapore-based InsurTech firm Axinan announced their strategic partnership with leading non-life insurer Mercantile Insurance Co. here in the Philippines.

This landmark collaboration powers insurance solutions in the area of smartphone protection through Axinan’s consumer brand igloo, which all Filipinos can now enjoy.

Axinan, Gadget Insurance Philippines, Mercantile Insurance, igloo Gadget Insurance

As a true pioneer in Asia Pacific in the field of digital insurance solutions, Axinan will provide proprietary tech capabilities that meet the standards of the Digital World while Mercantile's experience and leadership in non-life insurance in our country gives both parties a competitive edge in the local market.

As powerhouse smartphones become increasingly important in the lives of Pinoys, igloo gadget insurance solutions by Axinan and Mercantile truly come at an opportune time.

In November 2018, SquareTrade revealed that 66% of smartphone owners damaged their handsets in the past year. Cracked glass touchscreens was the most common type of damage at 29% while scratched screens (27%) and non-working batteries (22%) took second and third place respectively.

Additionally, according to International Data Corporation’s report in 2018, more and more Filipinos are moving towards smartphones with higher specifications and better features -- despite rising average selling prices of handsets with a 13% year-on-year increase in 2017.

Axinan, Gadget Insurance Philippines, Mercantile Insurance, igloo Gadget Insurance

Mr. Wei Zhu - Founder and CEO of Axinan - shared, "The Philippines insurance industry has shown positive growth in recent years as the country’s economy grows. The overall net income of the non-life insurance sector grew by 9.76% from 2016 to 2017. While the segment is smaller than the life segment, there are considerable growth opportunities due to the low levels of penetration and the potential for FinTech to boost growth."

"With our partnership with Mercantile who understands the local non-life insurance segment deeply, we believe that there will be more of such solutions from igloo by Axinan and this is just a start to our goal in providing a variety of digital solutions in the insurance space," he added.

On the other hand, Mr. Frank Ramos - Executive Vice President of Mercantile said, "With the rising popularity of digital solutions in the region, we are excited to collaborate with Axinan to leverage on their niche in digital insurance solutions, ensuring that we are able to give the best solutions to our consumers. This is in line with our mission of providing the best service that is responsive to the needs of the public. Through this strategic partnership with Axinan, we will be able to offer a wider variety of solutions in the non-life insurance space."

igloo, Axinan, Gadget Insurance Application

For my fellow Pinoy smartphone owners who are thinking about getting gadget insurance and are curious about Axinan and Mercantile Insurance Co. Inc.'s collaboration, you can download the igloo app for free via Apple App Store for the iPhone or Google Play Store for Android smartphones.

The application, which is powered by AI, already contains everything that you need to learn more about and avail of gadget insurance for your mobile device.

When you install it your smartphone, it automatically figures our the model of your handset and suggests plans that you can sign-up for to protect your gadget.

Axinan, Gadget Insurance Philippines, Mercantile Insurance, igloo Gadget Insurance

Currently, the smartphone brands that are covered by igloo include Apple, Samsung, Vivo, OPPO, Xiaomi, OnePlus, Google, Sony, LG, Huawei, and Asus.

You can choose between the more affordable yet limited Phone Screen Protection or the slightly more expensive but more comprehensive 360 Phone Protection, which is the one I recommend.

To quote Mr. Raunak Mehta - Chief Commercial Officer of Axinan, "With more people in the Philippines getting mobile phones with higher price points and functionalities, people increasingly see their mobile phones as an asset and an extension of their lifestyle and personality. We are proud to announce that the Mobile 360 through igloo is an innovative solution of Axinan’s proprietary technology to innovate and create products for the digital economy in the Philippines."

Under Mobile 360, you can enjoy comprehensive smartphone protection for its screen, camera, battery, and accidental liquid damage protection. This insurance is available to new and used phone from any telco, regardless if it's prepaid or postpaid.

Boasting of instant approvals and a simple application process fully accessible online, igloo's Mobile 360 gadget insurance will be first available in Metro Manila - where many of Axinan and Mercantile's authorized service partners are currently located - and will be available nationwide in the near future.

Axinan, Gadget Insurance Philippines, Mercantile Insurance, igloo Gadget Insurance

Learn more about Axinan and the AI technologies the company incorporated in igloo gadget insurance app by watching my exclusive interview with Mr. Wei Zhu, the Founder and CEO of the company. (He also shared with me some of their future plans in servicing the Philippine market and the young Filipino gadget-loving millennials. It's a must-watch!)

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