UnionDigital Bank is embedding insurance products into its mobile app through a partnership with Chubb Philippines.
The digital bank, a unit of Union Bank of the Philippines, said Chubb’s products will be integrated into the UD app alongside its savings and lending services.
The companies cited Bangko Sentral ng Pilipinas data showing 48% of adult Filipinos remain uninsured.
They said average household savings of about P50,000 may be insufficient to cover major illnesses that can exceed P690,000.
The first product, Loan Protect Insurance, is bundled with eligible UD loans at no cost for the first three months after approval.
It covers accidental death, permanent disability, temporary disability and death due to illness, and can pay up to the outstanding loan balance.
The product is available for loans of up to P30,000 with short-term repayment terms.
A second product, Kaya Protect Insurance, will provide personal accident and accidental death coverage of up to 150,000 pesos and will be activated for customers maintaining at least 100 pesos in an insured savings account.
UnionDigital said the initiative aims to expand access to basic insurance through its digital platform.
Chubb Philippines said the partnership is intended to improve access to insurance for un- and under-insured Filipinos through embedded offerings.
