Gigacover partners with yufin to launch health cover for SMEs in the Philippines

This will enable yufin to offer insurance products to SMEs.

Singapore-based insurtech firm Gigacover has partnered with merchant platform yufin to enable micro, small and medium enterprises (MSME) in the Philippines to access tailor-fitted insurance products easily on their smartphones.

Under the partnership, merchants who use the yufin app may buy health insurance on their platform.

This announcement comes after yufin exceeded 15,000 merchant sign-ups since its launch in Davao City in the Philippines.

It’s estimated there are over a million small and micro-enterprises in the Philippines such as the iconic sari-sari convenience stores, often run by one or two people, many women. Less than 20% of these SMEs are estimated to have bank accounts while more than 80% have access to smartphones.