From August through the “ber” months, the Philippines faces heightened disaster risk as typhoon activity intensifies, bringing heavy rains, strong winds, and increased flooding. During this period, the need for reliable protection becomes even more critical. Yet, many remain uninsured, leaving them financially vulnerable and unprepared for long-term recovery.
To help address this, insurtech firm Igloo and fintech lender Skyro are expanding their collaboration to launch a personal accident insurance product with an additional benefit to protect households from floods and fires. The new offering—which follows from already existing products such as Accidental and Liquid Damage, Credit Loan Protection, Personal Accident and Goods Protection—will be available to Skyro’s network of over 700,000 active loan customers nationwide.
Remaining unprotected against floods
Experiencing floods is an all-too-familiar ordeal for Filipino families. When bodies of water such as the Marikina River overflow, thousands are once again forced to endure its effects. According to the National Disaster Risk Reduction and Management Council (NDRRMC), the combined impact of Habagat and recent tropical cyclones Crising, Dante, and Emong has affected an estimated 9.7 million Filipinos.
Yet reports say that insurance penetration in ASEAN countries, including the Philippines, remains below 10%, highlighting the urgent need to expand coverage and strengthen financial protection for vulnerable communities.
The growing protection gap highlights the urgent need for more accessible and responsive insurance solutions that meet people where they are and provide timely support when it matters most. For many, a single disaster can mean not just physical loss, but long-term financial hardship, making recovery slow and uneven without adequate coverage in place.
Protection within reach
“Having these insurance options is about making sure people don’t have to start from zero each time they are recovering from the next typhoon,” said John Chen, Igloo’s Country Manager for the Philippines and Thailand. “Through these partnerships, we are bringing insurance closer to everyday Filipinos, those who are most at risk but least protected.”
The Skyro Personal Accident VAS offers protection against most common emergencies, combining personal accident coverage with benefits for natural disasters. For a minimum premium, the plan can be purchased via the Skyro app. Customers can access the Skyro Personal Accident VAS whenever they apply for a loan via the app, at a dynamic cost depending on their credit score. It covers property loss due to fire or typhoon-related flood, accidental death or disablement, daily hospital income, unprovoked murder and assault, and accidental burial assistance.
“Disasters don’t give families warnings to prepare financially,” said Dmitriy Vavulidi, Head of Product at Skyro. “That’s why together with Igloo, we’re offering coverage that protects against fire and flood damage so Filipinos can feel secure when life throws the unexpected. It’s protection that’s simple, reliable and easy to access.”
By embedding protection against accidents, flood, and fire into everyday financial products, Igloo aims to empower Filipinos to face disasters not just with hope, but with real, practical support.
