Nearly 15 million Pinoys now insured via GCash

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June 24, 2025 | 12:00am

MANILA, Philippines — E-wallet giant GCash is winning the battle to introduce affordable insurance to Filipinos, as it is able to cover nearly 15 million users through its variety of policies on the app.

GCash yesterday said its insurance arm GInsure has provided more than 51.4 million policies to at least 14.6 million Filipinos since its launch in 2021.

GCash vice president and head of new business Winsley Bangit said this shows how the e-wallet is achieving its goal of promoting financial resilience in the Philippines.

Bangit said most Filipinos used to think that getting any kind of insurance is a luxury affordable only to a few. However, GCash wanted to change this when it entered the insurance business, as it underscored the need for protection for future risks like illnesses at a low cost.

Since then, GCash has expanded its suite of policies on GInsure to 48 products, spanning health, life, accident, goals, travel, occupation, vehicle, lifestyle, property, business and pets. Further, the e-wallet offers insurance coverage for usual scams for P30 for 30 days.

Recently, GCash has released a product called Buy Load Plus Health Insurance, where users get free accident insurance for mobile load purchases on the app.

The policy extends as much as P30,000 in accident benefits and income support of P500 per day for five days if the person is unable to work.

“We are humbled to be able to come to the aid of Filipinos who are looking for a more affordable and accessible way to protect themselves and loved ones today and in the future,” Bangit said.

Apart from its insurance policies, GCash is becoming a lender of choice for millions of Filipinos right now, particularly in underserved markets. To date, the e-wallet has released P253 billion in loans to 8.7 million borrowers.

GCash offers multiple options for users running short in funds, particularly GLoan, GCredit and GGives. Last year the e-wallet brought in a nano version of GLoan that lends as low as P100 for users urgently needing cash.

In the wealth management space, GCash manages the funds of 13.2 million Filipinos via GSave, where invested resources yield interest.

Soon, GCash is launching GBonds to encourage Filipinos to invest in government-issued bonds that earn a fixed rate for a certain number of years.