MANILA, Philippines - Malayan Insurance Co. (Malayan Insurance) and ECPAY had teamed up to offer Malayan’s personal accident (PA) insurance in various convenience stores serviced by ECPay nationwide.
Known as ECProtect, the product covers clients between 18 and 64 years old against death or injury due to accidents for one month, six months, or one year. Clients may purchase the product in any of the ECPay e-payment sites.
Malayan Insurance will authorize an electronic confirmation cover (E-COC) number based on the request.
“The E-COC serves as the proof of insurance coverage, which indicates the benefits, exclusions, and relevant terms and conditions of the policy,” said Aldous Anacion, Malayan’s Head of E-Commerce. “Only Malayan has been allowed by the Insurance Commission to distribute its forms in electronic format.”
Malayan Insurance is one of the country’s leading non-life insurer and is a member of the Yuchengco Group of Companies, while ECPay is the country’s leading electronic payment system provider.
Malayan’s PA insurance may be bought at LCC Malls, GSIS Family Bank, Rang-Ay Bank, and in more than 500 pawnshops nationwide.
Malayan Insurance PA cover will also introduced in Gaisano Grand Malls, Metro Gaisano Malls, and various convenience stores.
ECPay’s president Jude Aguilar said that anyone may buy an affordable PA cover at any of the outlets using the ECPay payment system.
“These stores are equipped to issue a Malayan Insurance PA cover using the receipt and SMS confirmation as the proof of insurance cover.
ECPay operates as a secure e-warehouse for bills payments, remittance, fund transfer, prepaid products, and e-wallets. Thousands of merchants use this facility as a payment system,” Aguilar added.