E-commerce platform Lazada has tapped insurtech Igloo to introduce protection plans for electronics, phone screens and beauty products in the Philippines.
Igloo’s partnership with Lazada aims to secure online purchases and demonstrates the insurtech’s commitment to increasing consumer trust in e-commerce.
“Currently, there are 38.9 million e-commerce shoppers in the Philippines, and that number is expected to reach 55.8 million by 2025. 25% shop at least once a month,” says Roberto Baer. Commercial leader of Igloo Philippines.
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Vere said that as the number of Filipinos shopping online continues to grow, it is increasingly important to provide protection throughout the consumer shopping process and extend support even after they receive the product. he pointed out.
Through its partnership with Igloo, Lazada offers three comprehensive protection products tailored for electronics and beauty products. These protection plans are seamlessly integrated into the checkout process, allowing customers to select the appropriate coverage before completing their purchase. Transparent display of premiums makes additional costs clear.
insurance plan
• Electronic Protection and Gadget Protection Plans provide accidental damage, liquid damage, theft, and loss coverage for a variety of electronic products.
• Merchandise Protection plans protect non-electronic products from accidental damage and theft. These plans are underwritten by Etiqa Insurance, giving consumers peace of mind and professional repair services when needed.
• Product Liability Protection Plan takes care of the side effects of beauty products purchased on Lazada and provides coverage for chemical burns and severe allergic reactions. The plan, underwritten by Liberty Insurance, includes telephone consultation, medical reimbursement and emergency hospitalization, making online beauty product purchases safer and more reliable for consumers.
“At Igloo, our core mission revolves around giving consumers easy, affordable and convenient access to insurance products,” Baer said. “We believe that insurance should be easy to understand and accessible to everyone. In line with this commitment, our collaboration with Lazada provides a seamless and hassle-free option for individuals seeking protection for their online purchases. It has been carefully designed to ensure a guaranteed experience.”