discovermarket specialises in embedded insurance solutions, assisting a wide spectrum of industries and sectors in the South East Asia region. The arrival of discovermarket marks a key milestone in bolstering cybersecurity resilience for Filipino consumers and recognises the ever-increasing digital landscape in the Philippines. The past few years have been marked by a thriving digital economy but also an uptick in cybersecurity threats.
The new retail product offers coverage against online identity thrift, online shopping fraud and online payment transaction fraud up to P100,000 (around $1740). The product emphasises a streamlined digital experience, includes claims assistance services which should ensure comprehensive protection against cyber attacks.
Patrick Bühler, CEO and founder of discovermarket commented: “As the digital presence of Filipino consumers continues to grow, it is crucial that there are comprehensive measures for everyone to be sufficiently protected from malicious cyber-attacks. By providing a hassle-free and digital-first experience, we are able to help Globe provide innovative insurance products as a safeguard for their users.”
Beyond the immediate product offering, discovermarket seeks to democratise insurance access, especially within underserved segments, This will be achieved through low transaction costs and customisable embedded insurance solutions. In future, the company aims to expand its footprint within the Philippines by broadening its cyber insurance offerings and fostering financial inclusion through strategic partnerships.
Mark Pasaylo, Head and Director of the Platinum Brand, Globe added: “The new embedded cyberInsurance products demonstrate Globe’s commitment to ensure the safety of our subscribers’ online presence, giving them peace of mind when they go about their various activities on their smart devices.”
