Committed to making financial solutions more accessible to Filipinos wherever they may be, the #1 Finance Super App GCash, partners with Pioneer Insurance to launch its product for Overseas Filipino Workers (OFW) available through GInsure.
The Balik-Manggagawa or Direct-Hired Overseas Filipino Worker (OFW) Insurance provides financial security in case of accidents, disabilities, medical evacuations, repatriation of mortal remains, and other unexpected events.
Filipinos aged 18 to 63 years old who have a direct valid employment contract and employer abroad can enjoy coverage worth $32,000 (approximately PHP 1.76 million) when they buy the insurance through the GCash app for as low as $18 (approximately PHP 990).
The user-friendly interface of GInsure makes the purchase fast and easy. All they have to do is open the GInsure Marketplace in the GCash app, choose the insurance product offered by Pioneer Insurance, provide the necessary details, and receive their policy and official receipt real-time. The end-to-end process of issuance does not have any waiting period.
Since current Philippine policies require OFWs to be physically present to be able to purchase life protection products from local-based companies, this recent tie-up offers a practical and convenient way of getting insurance. This minimizes the worries of Filipinos who wish to have a financial safety net but are currently working and residing outside the country. The immediate family members of OFWs may also avail of this insurance product for their loved ones abroad.
“We remain committed to improving the daily lives of Filipinos through our suite of financial products wherever they may be. By partnering with Pioneer Insurance, we make it easier for Filipinos to stay protected even when they are abroad as they work tirelessly for their families back home,” said Winsley Bangit, GCash VP for New Businesses.
The partnership between GCash and Pioneer Insurance was solidified through a ceremonial MOA signing held on November 24. Signatories included from GCash: VP for New Businesses, Winsley Bangit and GInsure Head, Joseph Nino Young; and from Pioneer Insurance: Pioneer Group Head, Lorenzo Chan Jr. and Leslie Chua, Migrant Workers Head.
“This partnership will enable Pioneer to expand its reach to our kababayans around the world as it provides them with affordable reliable insurance that can respond to their emergencies abroad,” Pioneer Group Head Lorenzo Chan Jr. revealed.
GCash continues to expand its services that cater to the 10 million Filipinos who are earning a living abroad. The fintech company allows GCash users to enjoy the features of the app using international SIMs with the beta launch of GCash Overseas in Australia, Canada, Japan, Italy, United States of America, and United Kingdom.
Additionally, OFWs can send remittances to their loved ones back home with the 40+ remittance partners of GCash all over the world such as MoneyGram, Remitly, Wise, Sendwave, and Western Union.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
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This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
