Credit to Author: Jordeene B. Lagare| Date: Tue, 04 May 2021 16:17:41 +0000
INSURANCE technology startup Kwik.insure on Tuesday announced an affiliate program, which aims to provide Filipinos with additional revenue streams.
Under this program, affiliates can earn extra income by referring people to buy insurance on the online marketplace.
Kwik.insure said referral fees start at 3 percent and can go up to 10 percent of net premiums, depending on the insurance product.
“Anyone can become a Kwik.insure affiliate in as fast as five minutes by visiting Kwik.insure. Applicants need only to fill out a personal information form and input their payment details for the referral fees, which will be credited each month,” said the firm.
Kwik.insure is hoping its affiliate program will get more Filipinos insured as well as bolster the Philippine insurance industry by raising insurance awareness.
Citing data from the Insurance Commission (IC), the insurance penetration, or the contribution of the insurance sector to the national economy in terms of premium as a share of gross domestic product, reached 1.69 percent against the global average of 6.09 percent.
Insurance density, which refers to the insurance premiums per capita, averaged at $55 (P2,642.45), while the global average stood at $682 (P32,766.35).
“We hope to strengthen the insurance industry by tapping ordinary Filipinos — anyone who has access to a digital platform — to break the stigma and misconception about insurance,” said Hamilton Angluben, founder and chief executive officer of Kwik.insure.
IC lauded the startup in launching a program that can help bolster the confidence of Filipinos to obtain insurance.|
“We welcome the initiative of Kwik.insure to help increase the insurance awareness in the country and get more Filipinos insured. Having more people promoting the importance of insurance is a progressive strategy to uplift the industry as a whole. We wish them success on the launch of their affiliate program,” said IC Commissioner Dennis Funa.