Manila, Philippines — While more Filipinos are placing greater importance on their health, millions still remain financially exposed when serious illness strikes, highlighting the country’s persistent insurance protection gap.
Seeking to address this challenge, CashKO, the microinsurance subsidiary of Philippine InsurTech company RuralNet, has expanded its tailored insurance network to more than 6.1 million underserved Filipinos across 81 provinces, delivering affordable financial protection through community-based institutions.
The expansion comes at a time when approximately 67% of adult Filipinos identify staying healthy and avoiding illness as their top personal concern, surpassing immediate economic worries. Yet despite growing awareness of healthcare risks, insurance penetration in the Philippines remains at just 2%, leaving many households vulnerable to catastrophic medical expenses.
For families in the informal sector and rural communities, prolonged illnesses often wipe out years of savings even before a loved one passes away. The additional burden of funeral expenses frequently forces households into debt, delaying or reversing years of economic progress.
CashKO’s “made-to-measure” life insurance solutions were developed to respond to these realities. Instead of offering standardized insurance packages, the company works closely with rural banks, cooperatives, and microfinance institutions to design affordable coverage that aligns with the financial capacity and protection needs of individual communities.
The company’s customized plans focus on helping families settle final medical liabilities and funeral expenses, providing immediate financial support during one of life’s most difficult periods and reducing dependence on emergency borrowing.
Market vendor Lolita Lugasan witnessed the impact of this approach after losing her husband. Following months of medical expenses that depleted the family’s savings, she received her insurance claim through one of CashKO’s lending partners only days after his passing.
“Makalipas ang ilang araw matapos mamatay ang asawa ko, mabilis kong nakuha ang claim. Ramdam mo na may nag-aalaga sa iyo, may malasakit,” said Lugasan. (“Just a few days after my husband passed away, I received the insurance claim quickly. It makes you feel like someone is truly looking after you and genuinely cares.”)
“‘Yung nakuha ko sa CashKO, kinabukasan, nataon na birthday niya. Hinati ko ‘yun. Yung kalahati, ipinanghanda ko. Pero yung kalahati, inilagay ko sa negosyo ko para may umiikot akong puhunan,” she added. (“The payout I received from CashKO arrived just in time for his birthday the next day. I split the money—half went toward preparing a meal for his birthday, and the other half I invested back into my business so I would have capital to keep it running.”)
According to Justin Arcenas, Founder & CEO of RuralNet Inc., expanding insurance access requires solutions that reflect the realities of underserved communities instead of relying on conventional products.
“Financial protection should be within everyone’s reach. It should not be a luxury, but a necessity. Our microinsurance service is tailored to the unique needs of Filipino households, moving away from rigid, traditional insurance and instead co-designing ‘made-to-measure’ plans with local institutions. By leveraging technology, we are helping more Filipino families build genuine financial resilience and long-term peace of mind, so that losing a breadwinner doesn’t mean starting back at zero,” said Arcenas.
Supporting this approach is RuralNet’s proprietary digital infrastructure, which has achieved a 97% claims approval rate while enabling payouts that are 75% faster than the industry average. The technology allows beneficiaries to receive financial assistance more quickly, reducing the likelihood of resorting to high-interest emergency loans.
CashKO’s services are now available through more than 5,000 partner branches nationwide, enabling rural banks, cooperatives, and microfinance institutions to integrate insurance into their existing financial services. The platform serves as RuralNet’s operational backbone, helping lower distribution costs while expanding financial protection to historically underserved communities.
Today, with more than 6.1 million covered lives, CashKO continues to contribute to broader efforts to improve financial resilience and expand insurance accessibility across the Philippines.
For more information, visit ruralnet.ph or micro.cashko-insurance.com.