Homegrown insurance technology (insurtech) startup Kwik.insure has rolled out a zero-interest installment payment scheme for availing its insurance policies for vehicles.
In a statement, Kwik.insure said customers can pay their premiums over three or six months using any payment method even without post-dated check or credit card.
"By introducing the zero-interest installment payment scheme for car insurance policies, we are helping bring insurance closer to Filipinos who need them at a much more convenient and affordable manner," Kwik.insure Founder and CEO Hamilton Angluben explained.
Angluben said the newly launched program is part of the company’s efforts to make insurance "uncomplicated, accessible, and easy on the pocket" as installment plans start for as low as P500, payable up to 6 months, depending on the car year and model.
"Our goal is to drive growth in the insurance industry, while helping more Filipinos avail of affordable insurance products. We believe that insurance should be available and uncomplicated for everyone for their financial well being. We plan to introduce the installment feature in all insurance lines in the future," he added.