Citing data from credit reporting company TransUnion dated March 2021, Sen. Grace Poe said 44 percent of Filipinos have been targeted by digital fraud while fraud attempts against businesses have risen by 31 percent.
Homegrown insurtech startup Kwik.insure launched on Tuesday, March 30, what is claimed is the country’s largest online insurance marketplace with over 100 life and non-life insurance products from 15 of local insurance and healthcare providers.
The framework, which will cover all financial institutions performing multiple regulated activities using a single application platform, aims to facilitate seamless regulation and supervision of fintech companies.
The Insurance Commission (IC) said the life insurance industry is ready to absorb potential claims brought forth by Covid-19 – particularly now that the testing capacity of the healthcare network has expanded.
