Prudential starts microinsurance project in the Philippines

June 6 2017 by InsuranceAsia News Staff

Prudential Life UK is teaming up with Deutsche GIZ and CommLinked to set up online communities in rural cities in the Philippines to improve microinsurance literacy.

Prudential is in the process of building secure zones for residents of two areas in the Philippines — Tacloban and Butuan — through online communities that share microinsurance literacy and services and lifestyle trends.

The programme will run for two years. In six months, Pru Life UK hopes to draw 30,000 members into the microinsurance scheme.

Microinsurance was first introduced in the Philippines in 1997 through the National Strategy for Microfinance that aims to provide protection from financial risks to low-income earners, including agricultural workers.

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