MANILA, Philippines – FPG Insurance, a major player in the non-life insurance industry and leader in motor insurance coverage, inks a partnership agreement with I-Pay MYEG Philippines, Inc., a partnership of two fin-tech companies, I-Pay and MyEG, championing online automation for government services.
The partnership forms a gateway to bring insurance closer to the general public. With over 20,000 OTC payment channels and point-of-sale locations across the country, this secures I-Pay MYEG Philippines’ place in the market as one of the leading e-payment services provider.
“Expanding our distribution channels in the country is one of FPG Insurance’s strategic courses to empower and enable consumers towards safety and peace of mind. This partnership with MYEG Philippines will definitely provide a concrete support to contribute towards this goal,” said Ramon Yap Dimacali, FPG Insurance President and CEO.
In 2010, I-Pay has won the “Asia Pacific Best Newcomer”, and the “Asia Pacific Fastest Expanding Network” the year after. MyEG on the other hand is a publicly-listed company in Kuala Lumpur Stock Exchange (KLSE) with over US$1.3 Billion in total market capitalization.
“We are very happy to have FPG Insurance Philippines as one of our insurance partners and to be able to provide the market with reliable insurance offerings fit according to their need,” said MYEG Philippines President Ronald Allan Aquino.
Also present during the contract signing are FPG Insurance Channels Marketing Group Vice President Michael Del Moral and MYEG Philippines Chief Technology Officer JC Principe.
MYEG Philippines has also been servicing key government clients such as the National Bureau of Investigation, the Philippine Overseas Employment Agency, and Landbank of the Philippines among others.
FPG Insurance offers a comprehensive suite of insurance products from motor insurance, property insurance, to travel and personal accident coverages.