Leading microfinance service company Cebuana Lhuillier recently unveiled MicroBiz Protek Jr, a microinsurance product that will insure microenterprises against typhoons, floods, earthquakes, lightning, and fire. The product is being offered in partnership with AXA Philippines, a leader in global insurance, and German development agency GIZ.
“For years now, Cebuana Lhuillier has always been a steadfast partner of Filipinos in providing them their financial needs, whether for bridge financing, micro-savings, and of course, protection in the form of insurance. The launch of the MicroBiz Protek Jr is a progressive step forward towards insuring our small business owners against the dangers that natural calamities bring,” said Jean Henri Lhuillier, president and CEO of Cebuana Lhuillier.
“With MicroBiz Protek Jr, we take action against the risk of disasters that affect MSMEs. This product provides meaningful protection to a sector that engines the growth of the country by serving as the backbone of its economy,” added Jonathan Batangan, first vice president and group head of Cebuana Lhuillier Insurance Brokers, Inc.
From 2015 to 2019, microenterprises have posted losses of up to PHP1-million due to typhoons and floods alone. Many MSMEs have cited natural catastrophes to be one of the major reasons for losses and bankruptcy, especially for businesses that have an average of five years or lower since their inception. An example of this would be the super-typhoon Yolanda. After the super-typhoon hit the Visayan regions, only 30% of business establishments renewed their license to operate. The same pattern is being observed in the current pandemic situation of the country.
The newly launched MicroBiz Protek Jr will help microenterprises to feel more secure knowing that their small businesses are insured and protected for such an affordable price. When microenterprise owners avail of the MicroBiz Protek Jr, they get protection for their business through cash assistance when their property is damaged due to fire, lightning, typhoon, flood or earthquakes. Not only that, the insurance also covers burglary and robbery.
They can also get Accident Insurance for any death or disablement due to accidents. Added to this coverage is an emergency assistance access provided by the Emma via AXA PH mobile app, wherein users can get free access to ambulance, roadside, fire, and police assistance.
Clients may avail of the MicroBiz Protek Jr for as low as PHP105 with a coverage of 1 year!
Avail of the MicroBiz Protek Jr product by logging on to ProtectNow.com, Cebuana from Home, Cebuana Lhuillier Financial outlets, and DTI Negosyo Centers!
Visit cebuanalhuillier.com/MicroBizProtekJr for more information.