Manila, Philippines – Digital life insurer Singlife Philippines and personal finance marketplace Moneymax has announced their collaboration to make the first-ever Philippine mobile life insurance app through the launching of the ‘Singlife Plan & Protect’ app.
The app enables users to build an emergency fund with a high-interest account, access a guided financial planning tool, and buy customizable life insurance & investment products.
The newly formed partnership is the first of its kind for both digital platforms. For Moneymax, it marks the launch of its life insurance offering in addition to its travel and fire insurance pages, which were launched earlier this year. On the other hand, Singlife will be leveraging its platform to provide fuss-free financial solutions that in the past were only available through traditional means.
Commenting on the app launch, Rien Hermans, CEO of Singlife Philippines, said, “Unexpected life events—such as disability or even death of the family breadwinner, or serious illnesses within the family—can drain a lifetime’s worth of savings and even worse, confront families with a high, hard-to-pay-back debt.”
“For the Juans and Marias of today who work hard and plan to achieve their goals, we want to empower them—with the help of Moneymax—to take control of their hard-earned money. The Singlife Plan & Protect App can guide them through taking proactive steps to make sure they will always have money when they need it”, he added.
Meanwhile, Prashant Aggarwal, CEO of MoneyHero Group, commented, “Through our strategic partnership with Singlife, we strengthen our commitment to expanding our offers and increasing awareness of digital insurance in the country. Moneymax and Singlife share the same mission of helping customers find financial products that best match their needs and budget, which is what this partnership is all about.”
