In a first for the Philippine consumer finance market, SB Finance has launched bundled loss-of-employment protection for motorcycle loan borrowers, embedding mandatory coverage into every loan under its enhanced MotorsikLOAN program.
The initiative, developed in partnership with global insurtech bolttech and MAAGAP Insurance Inc., aims to cushion customers against sudden income disruption amid ongoing economic uncertainty. The program marks the first time motorcycle loan borrowers in the Philippines automatically receive protection against involuntary job loss as part of their financing package.
MAAGAP is currently the only insurer authorized by the Insurance Commission to offer policies covering involuntary loss of employment due to just and lawful causes—positioning the partnership as a milestone in local credit protection innovation.
Under the upgraded MotorsikLOAN package, borrowers receive three layers of financial security. Eligible employed customers are entitled to coverage equivalent to one month’s amortization in case of involuntary job loss.
The bundle also includes accidental death and permanent disablement benefits, plus a daily hospital allowance of P500 for confinement due to accident or illness. Teleconsultation services for medical advice are also built in.
Abbie Dans-Casanova, president and chief executive officer of SB Finance, said the collaboration “allows us to bring added value to our customers by combining SB Finance’s expertise in consumer lending with innovative protection solutions,” helping Filipinos pursue mobility goals with greater financial confidence.
Martin Dela Rosa, president and CEO of MAAGAP Insurance, said the built-in safeguards provide borrowers “added confidence knowing they are covered throughout their repayment period.”
Meanwhile, bolttech Philippines General Manager Jemma Dela Cruz emphasized streamlined distribution and claims servicing to ensure faster, frictionless support when customers need it most.
The move signals a growing push among lenders to fuse credit and protection, helping reshape risk management for everyday Filipino borrowers.
