Filipino homeowners remain highly exposed to climate-related disasters, yet many still lack adequate insurance to recover from repeated losses.
As the Philippines enters the storm-heavy “ber” months, millions of households face heightened risks from typhoons, floods, and fires. Yet despite living in one of the world’s most disaster-prone regions, many Filipinos remain without adequate insurance protection—leaving them financially exposed when disasters strike.
To close this gap, insurtech firm Igloo and fintech lender Skyro have unveiled their fifth joint product: a personal accident insurance plan that also covers households against floods and fires. This new protection joins their existing lineup of Accidental and Liquid Damage, Credit Loan Protection, Personal Accident, and Goods Protection products. The policy will be available to Skyro’s network of more than 700,000 active loan customers nationwide.
The flood protection gap
Flooding has become a recurring hardship for many Filipino families, particularly those living near waterways such as the Marikina River. According to the National Disaster Risk Reduction and Management Council (NDRRMC), nearly 9.7 million people have been affected by the combined impact of Habagat and recent storms Crising, Dante, and Emong.
Despite these recurring disasters, insurance penetration across ASEAN—including the Philippines—remains below 10%. This leaves millions vulnerable to financial ruin, as a single calamity can wipe out savings and delay recovery for years.
“Too often, families are forced to start over after every typhoon,” said John Chen, Igloo’s Country Manager for the Philippines and Thailand. “Through this partnership with Skyro, we’re making insurance more accessible to those who need it most—ordinary Filipinos who are most at risk, yet least protected.”
Simple, affordable protection
The Skyro Personal Accident VAS offers a comprehensive safety net that combines accident coverage with protection against natural disasters. Customers applying for loans through the Skyro app can opt in to the plan at a dynamic cost based on their credit score.
Coverage includes property loss from fire or typhoon-related flooding, accidental death or disablement, daily hospital income, unprovoked murder and assault, and accidental burial assistance.
“Disasters don’t come with financial warnings,” said Dmitriy Vavulidi, Skyro’s Head of Product. “That’s why we’ve made this coverage simple, reliable, and easy to access. By embedding insurance into everyday financial products, we’re giving families peace of mind when life takes an unexpected turn.”
By expanding disaster coverage through digital platforms, Igloo and Skyro aim to bridge the protection gap and provide Filipino households with not just hope, but practical support to rebuild stronger after every storm.
Learn more at iglooinsure.com.