MANILA, PHILIPPINES - SEPTEMBER 2020. Prudential Guarantee and Assurance, Inc. (PGAI), one of the country’s leading non-life insurance companies, partners with Moneymax to make its auto insurance program more accessible to a wider audience. Both companies aim to help Filipinos financially protect their vehicles without leaving the comfort of their homes. This is also part of PGAI’s effort to increase the use of digital processes and expansion of their car insurance services.
Prudential Guarantee x Moneymax: A Milestone for Both Companies
PGAI, with 41 offices operating nationwide, is the Philippines’ number one non-life insurance company in terms of Net Premiums Written based on the Insurance Commission’s 2017 to 2019 ranking. PGAI offers a complete suite of insurance products such as car insurance, property insurance, and travel insurance. The insurance provider is also an affiliate of PGA Cars, which exclusively distributes luxury auto brands like Audi, Porsche, Lamborghini, and Bentley.
This partnership represents a milestone for both companies: this is PGAI’s first partnership with an online aggregator, while for Moneymax, PGAI becomes its largest insurance partner to date. Indeed, Moneymax is excited to extend the reach of PGAI’s comprehensive car insurance services to its website audience of more than half a million users per month.
Greg Aguilar, Moneymax’s Head of Business Development shares, “We are excited to announce our new partnership with Prudential Guarantee. The partnership will allow Moneymax, as a registered broker, to offer PGAI’s car insurance products on its online comparison platform thereby broadening the selection for our clients. This will also enhance PGAI’s retail customer reach and accessibility. We’re glad to be working with an industry leader in the field of non-life insurance and are excited for the growth that’s to come.”
When asked about the partnership, PGAI Senior Assistant Vice President Rhoda Sharon Alipao shares, “The availability of the Prudential Guarantee Auto Insurance Program on the Moneymax website complements the company’s electronic policy issuance capabilities, which allow services and transactions with policyholders to become more convenient and quick.”
Client Convenience and Safety, Always a Top Priority
Indeed, by having PGAI on the Moneymax website, car owners now have a wider range of car insurance options to choose from. No need to go outside as the whole Moneymax car insurance process -- from comparing, customizing, and paying -- can be done online. Moneymax also offers post-sales support and free claims assistance to make the process of insurance purchase and renewal completely digital and hassle-free.
To learn more about Prudential Guarantee Assurance, Inc., visit www.prudentialguarantee.com, and follow them on Facebook (fb.com/prudentialguaranteeandassurance). Also, don’t forget to visit PGAI's page on the Moneymax website to get a free PGA car insurance quote and to learn more about the partnership. For other updates and information, follow @moneymax.ph on Facebook and Instagram, alongside @moneymaxph on Twitter.
Moneymax is an online comparison platform for financial products such as car insurance, credit cards, and loans. The company aims to drive financial inclusion in the Philippines by helping Filipinos make smarter decisions through financial education and comparison. Driving financial literacy is core to Moneymax’s mission and it does so through its blog and social media channels.
Established in 2014, Moneymax is registered with the Insurance Commission of the Philippines under the name MoneyHero Insurance brokerage. It started by offering car insurance and has branched out to banking products like credit cards and loans. In 2020, Moneymax launched Gadget Protect, the country’s first digital mobile protection product.
CompareAsiaGroup is the parent company of Moneymax that operates in six markets in the Southeast Asian region: Singapore, Hong Kong, Taiwan, Thailand, Malaysia, and the Philippines. In 2019, CompareAsiaGroup welcomed one of its biggest investors, Experian, who led the series B1 funding of $20 million to help deliver the Group’s mission of empowering people to build healthier financial lives.
|Car Insurance Company||Maximum Total Sum Insured||Casa Eligibility||Accredited Repair Shops||Overnight Acommodation||Towing Services||Vehicle Removal Crane Services|
|₱5 million||5 years||36||Up to ₱2,000||Up to ₱5,000||₱10,000|
|₱7.5 million||3 years||58||Up to ₱1,000||Up to ₱4,000||Up to ₱8,000|
|₱5 million||10 years||77||Up to ₱2,000||Up to ₱5,000||Up to ₱10,000|
|₱5 million||10 years||365||Up to ₱3,000||Up to ₱5,000||Up to ₱10,000|
New India Assurance
|₱3.5 million||10 years||30||Up to ₱1,500||Up to ₱4,000||Up to ₱10,000|
|₱3 million||10 years||167||N/A||N/A||N/A|
|₱3 million||10 years||N/A||Up to ₱2,000||Up to ₱5,500||Up to ₱15,000|