The Philippine Crop Insurance Corporation (PCIC), in collaboration with GCash, has launched a new program aimed at improving the speed, security, and efficiency of indemnity payments to insured farmers. Announced on Sunday, the partnership will streamline PCIC’s payout system, directly depositing indemnities into farmers’ GCash wallet accounts in real-time, making the process faster and more accessible.
The memorandum of agreement, signed on 24 January, underscores the government’s commitment to financial inclusion and digitalization in rural areas. PCIC president Jovy Bernabe said that the partnership not only advances process efficiency but also supports farmers’ financial growth by integrating them into GCash’s broader digital ecosystem, which includes savings, investment, and microfinancing options.
This collaboration builds on PCIC’s ongoing efforts to modernize its services, including a recent partnership with the Bureau of Fisheries and Aquatic Resources (BFAR) to insure 6,800 additional Bantay Dagat volunteers, enhancing their financial security. By expanding its reach, PCIC continues to empower agricultural communities across the Philippines.
