Manila, Philippines — CashKO, the microinsurance subsidiary of Philippine InsurTech company RuralNet, has expanded its coverage to more than 6.1 million underserved Filipinos across 81 provinces, underscoring growing efforts to make insurance more accessible to communities traditionally excluded from conventional financial protection.
The expansion comes as the Philippines continues to face a significant protection gap despite rising public awareness of health-related risks. Around 67% of adult Filipinos identify staying healthy and avoiding illness as their top personal concern, while national insurance penetration remains at just 2%, leaving many households financially vulnerable when confronted with serious illness or the loss of a family breadwinner.
CashKO’s response has been to develop “made-to-measure” life microinsurance products in partnership with rural banks, cooperatives, and microfinance institutions. Unlike standardized insurance offerings, the customized plans are structured around the income patterns, financial capacity, and protection needs of specific communities.
The coverage is designed to help families manage final medical liabilities and funeral expenses—costs that often become financially overwhelming after prolonged illnesses. By providing immediate financial assistance, the program seeks to reduce the likelihood that vulnerable households will rely on high-interest emergency loans or lose years of economic progress following a medical crisis.
The practical impact of timely insurance support is reflected in the experience of market vendor Lolita Lugasan. After her husband’s passing, and following months of medical expenses that exhausted the family’s savings, she received her CashKO insurance claim within days through one of the company’s lending partners.
“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.”)
She said the proceeds enabled her to balance immediate family needs with protecting her livelihood.
“‘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 said. (“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 coverage requires products that reflect local realities rather than applying a single model across diverse communities.
“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 the company’s expansion is RuralNet’s proprietary digital infrastructure, which has maintained a 97% claims approval rate while reducing payout turnaround times by 75% compared with the industry average. Faster claims processing is particularly important for low-income beneficiaries who require immediate access to funds during emergencies.
CashKO distributes its insurance solutions through a nationwide network of more than 5,000 partner branches, enabling rural banks, cooperatives, and microfinance institutions to integrate insurance into their existing financial services. The platform serves as the operational foundation of RuralNet’s technology-driven insurance ecosystem, helping reduce distribution costs while addressing longstanding accessibility and trust barriers within the rural insurance market.
With more than 6.1 million covered lives, CashKO continues to expand the availability of tailored life microinsurance, providing underserved Filipino families with a financial safety net designed to help them recover more quickly from life’s most difficult challenges.
For more information, visit ruralnet.ph or micro.cashko-insurance.com.