As the new year pushes financial wellness to the forefront of the Filipino consciousness, the Palawan Group of Companies is doubling down on “insurtech” accessibility.
Partnering with Oona Insurance, the pawnshop-to-fintech giant has rolled out Palawan ProtekTODO, a critical illness product specifically engineered to bridge the massive protection gap for the country’s leading causes of mortality.
Data from the World Health Organization (WHO) and the Philippine Statistics Authority (PSA) continue to paint a grim picture: heart attack, stroke, and cancer remain the top “killers” in the archipelago.
For the average Filipino, these diagnoses aren’t just health crises — they are financial death sentences that often lead to predatory lending or the total depletion of family savings.
Democratizing the ‘lump sum’
Photo shows (from left:) Bernard Kaibigan, Chief Marketing Officer of Palawan Group; Nicasio “Ninoy” Rollan III, President and CEO of OONA Insurance; Lisa Castro-Sabado, Chief Business Development Officer of Palawan Group; and Karlo M. Castro, President and CEO of Palawan Group, as they come together in support of Palawan Protektodo, which covers leading critical illnesses.
Unlike traditional HMOs that focus on hospital reimbursement, Palawan ProtekTODO operates on a 100% lump-sum cash benefit model. This means that upon diagnosis — whether the illness is early-stage or advanced — the policyholder receives the full coverage amount in cash.
This liquidity is crucial in a market where out-of-pocket expenses for treatments like chemotherapy or post-stroke rehabilitation can paralyze a household’s cash flow.
“We see a real gap in coverage for serious illnesses,” says Karlo M. Castro, President and CEO of the Palawan Group of Companies. “Many Filipinos only think about the financial impact when a medical emergency happens. ProtekTODO is our way of saying that no Filipino, no matter their socio-economic standing, should face critical illness alone or unprepared.”
The ‘sachet’ pricing model
Meijhen Maulanin, Sales and Marketing Manager, discusses the benefits and coverage of Palawan ProtekTODO for leading critical illnesses
Following the “patingi-tingi” (retail/sachet) philosophy that has made the Palawan Group a household name, the insurance plans are priced to compete with daily expenses:
- The Basic Plan: ₱50,000 coverage for ₱550 per year (approx. ₱1.50 per day).
- The Plus Plan: ₱100,000 coverage for ₱1,100 per year.
- Stackable Security: Policyholders can avail of multiple policies for an aggregate maximum benefit of ₱500,000.
Omnichannel distribution: From branches to ‘add to cart’
Lisa Castro-Sabado, Chief Business Development Officer of Palawan Group of Companies
In a move that mirrors the digital transformation of the Philippine fintech landscape, Palawan is leveraging its massive physical footprint alongside a growing digital ecosystem.
Lisa Castro-Sabado, Chief Business Development Officer, noted that the partnership with Oona Insurance centers on the “mura, mabilis, at walang kuskos-balungos” (affordable, fast, and hassle-free) promise. The product is now available via:
- Over 3,300 Palawan Pawnshop branches nationwide.
- The PalawanPay App, targeting the mobile-first “unbanked” and “underbanked” segments.
- E-commerce platforms, through official stores on Lazada and Shopee.
Bernard V. Kaibigan, CMO of Palawan Group, highlighted that the goal was to strip away the “intimidation factor” of traditional insurance. “Traditional products feel intimidating due to complicated terms and lengthy processes. ProtekTODO removes these barriers,” he explained.
Fintech for the Filipino family
Ciara Magallanes of Mommy Diaries PH talks about daily financial planning for households
The launch also saw support from the “mommy influencer” community, with Ciara Magallanes of Mommy Diaries PH emphasizing the product’s role in daily financial planning for households that live on tight monthly budgets.
By integrating insurance into the same ecosystem where Filipinos send remittances and pay bills, Palawan is positioning critical illness cover not as a luxury for the C-suite, but as a foundational utility for the “everyman.”
As inflation continues to squeeze the Filipino wallet, ProtekTODO’s entry into the market suggests that the next frontier for local fintech isn’t just payments — it’s the democratized protection of the Filipino’s hard-earned savings.
