Bankers Assurance Corporation (BAC) recently sealed partnerships with rural banks: Rural Bank of San Antonio (RBSA) and LifeBank – A Rural Bank; pawnshops: Sinag Pawnshop and Mileva Pawnshop; and cooperatives: Cooperative Insurance System of the Philippines (CISP) and CLIMBS Life and General Insurance Cooperative (CLIMBS).

These new partnerships provide innovative, relevant and affordable microinsurance products to the country’s low-income sector who are more vulnerable to risk, and in greater need for protection in case of financial loss due to unforeseen and sudden event such as death, hospitalization or damage to property due to fire.

Co-branded products have been developed with the partners to tailor-fit microinsurance coverages based on the needs and risk-priorities of their clients. Microinsurance trainings were also provided to further equip partners’ staff with proper insurance and product knowledge.

BAC is one of the country’s non-life insurance companies actively advocating financial inclusion by providing microinsurance products to the underserved sectors of the society.