Cocogen’s Covid-19 Assist+ has proved to be a revolutionary product launched amid these difficult times. Given its timely launch, its impact and how beneficial it has become for the masses, International Finance awarded Cocogen’s COVID-19 Assist+ with ‘the Most Innovative New Non-Life Insurance Product for 2020’.
Among the 35 different awards at stake, Cocogen is the only company from the Philippines that won in the Insurance category alongside other leading insurance companies all over the world. Regarded as one of the strongest and largest non-life insurance companies in the country, Cocogen has over 50 years of distinctive experience in the market, and over time, the company has established itself as a leader in the insurance space. As the world was dealing with the Covid-19 health crisis, Cocogen came forward to help the Filipinos by providing easy and affordable insurance during such uncertain and trying times.
So what is COVID-19 Assist+? It is a personal accident sachet insurance that offers financial assistance for hospitalisation and death due to Covid-19. Cocogen offers two affordable packages: Basic at Php 50 and Prime for Php 75. It is noteworthy that Cocogen is also the first non-life insurance company that offered Covid-19 microinsurance in the Philippines.
Cocogen launched COVID-19 Assist+ to help its citizens with the financial impact caused by the pandemic, which has not only affected people but has also affected and challenged the country’s economy, healthcare system, and society at large. The company’s main priority was to show that they are committed to the wellbeing of its citizens and lend a helping hand during these challenging times. Cocogen COVID-19 Assist+ was introduced under the company’s microinsurance offering last year on October 16, 2020.
The company added by saying that their latest product covers accidental death and disablement, burial benefit in case of death and daily hospital benefit for hospitalisation, both caused by an accident and cash assistance in case of death due to other causes. Insurers who test positive for Covid-19 can claim daily hospital benefits for a maximum of 15 days and they also provide cash assistance in case of death due to the coronavirus.
Besides this, Cocogen has also launched two new interesting products to add to their roster of new normal insurance essentials. Since the majority of the workforce had to quickly adapt to working from home, and students switching to online distance learning, Cocogen launched Pro-Tech Computer Insurance which covers desktops and laptops from accidental damage and loss. Similarly, the company also launched Parcel Protect which covers shipment deliveries by land to cater to the massive demand of online shopping.
With regard to its future plans, Cocogen told International Finance, “We have more innovations in the pipeline such as the natural course of digitisation of our processes and operations, and the continuous development of insurance solutions that are responsive to the changing needs of the market.”