GInsure bullish on growth as many GCash users remain uninsured

THE INSURANCE ARM of e-wallet giant GCash is bullish on their growth as a large number of its customers remains uncovered, which they hope to reach via their embedded product offerings.

“A big chunk of this has been with our embedded insurance, our load insurance. When we give insurance available for free, we grow the number of people insured two and a half times more,” GCash Vice-President and GInsure Head Wilfrido De Ocampo told reporters on Tuesday.

To date, GInsure has issued 119 million policies and insured 27 million users. Majority or 75% of the users insured were from outside Metro Manila, while 67% were aged 23-45, 76% from socioeconomic classes D and E, and 56% were female.

After the number of policies they issued more than doubled year on year in 2025, Mr. De Ocampo said he expects significant growth this year.

“On policies made, we continue to be very bullish. I don’t know if we’re going to do double, but certainly [we will see] significant growth in the number of people we insure and also the number of premiums that we give.”

He added that GCash is exploring other ways of expanding coverage, such as insuring other transactions as scams continue to evolve.

However, the penetration rate of GInsure relative to the total user base of GCash is still at the single-digit level, Mr. De Ocampo said.

He said he hopes that their users will be encouraged to learn about more complex insurance policies through their embedded offerings. “By giving it for free, we’re teaching them that insurance is something they have access to.” — A.M.C. Sy