Philippines – Global merchant platform for SME, yufin, has partnered with Singapore-based insurance provider, Gigacover, to enable Filipino small businesses on the platform to access Gigacover health insurance products tailored to their needs at the touch of a button.
Under the partnership, the small businesses will also be able to access business protection and offer customised insurance products such as family and health insurance to their customers.
The platform said that the announcement comes as it has exceeded 15,000 merchant sign-ups since launching in Davao City, in the Philippines end of May 2022.
Shubhrendu Khoche, chief strategy and product officer at yufin, said, “Small businesses are the lifeblood of Southeast Asian economies and communities but many are underserved. Our partnership with Gigacover helps us bring insurance to last-mile merchants to give them peace of mind and to help them offer their customers much-needed access to insurance protection.”
Meanwhile, Chesca Figueroa, country manager and partnerships lead at Gigacover Philippines, noted, “With this partnership, we aim to further support yufin’s efforts in financial education, planning, and protection to their respective small merchants.”
Gerald Chua, head of merchant acquiring at yufin Philippines, commented, “We are delighted and humbled by the welcome yufin has received so far from our community merchant partners. We help small businesses manage their transactions through a suite of tools, products and services that help them grow and prosper.”
Liz Servañez, head of business development and partnerships at yufin, noted, “With partnerships such as our partnership with Gigacover, much-needed financial services products, like insurance protection can also be sacheted to make them accessible and affordable for the yufin merchant network and their customers.”
