Malayan Insurance Co. Inc. and Rizal Commercial Banking Corp. (RCBC) have come together to offer affordable microinsurance products through the RCBC DiskarTech mobile app. Downloadable through Google Play Store and App Store, the DiskarTech app, which was recently launched by RCBC, is the first Taglish super inclusion mobile app that encourages users to manage their finances online. In January this year, the Insurance Commission (IC) reported that Filipinos covered by microinsurance has reached 40 million as of end-September 2019, insurance penetration remains at 1.69 percent, and market penetration at 59.15 percent. Insurance penetration is the contribution of the local insurance industry in terms of premium as a share of gross domestic product (GDP), while market penetration refers to the number of Filipinos with already some form of insurance coverage. Malayan Insurance and RCBC are both members of the Yuchengco Group of Companies (YGC).

Source: Manila Times August 21, 2020 16:06 UTC