{"id":35751,"date":"2022-06-07T21:45:33","date_gmt":"2022-06-07T13:45:33","guid":{"rendered":"http:\/\/www.teampcheng.com\/blog\/?p=35751"},"modified":"2022-06-07T21:45:37","modified_gmt":"2022-06-07T13:45:37","slug":"axa-philippines-and-growsari-offer-free-insurance-to-sari-sari-store-owners","status":"publish","type":"post","link":"http:\/\/www.teampcheng.com\/blog\/lifestyle\/axa-philippines-and-growsari-offer-free-insurance-to-sari-sari-store-owners\/","title":{"rendered":"AXA Philippines and GrowSari offer free insurance to sari-sari store owners"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-style-default\"><a href=\"http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"596\" data-attachment-id=\"35752\" data-permalink=\"http:\/\/www.teampcheng.com\/blog\/lifestyle\/axa-philippines-and-growsari-offer-free-insurance-to-sari-sari-store-owners\/attachment\/axa-x-growsari-signing-group-photo\/#main\" data-orig-file=\"http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo.jpg\" data-orig-size=\"1280,745\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;6.3&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 80D&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1649358425&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;18&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.02&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"AXA x GrowSari Signing &#8211; Group Photo\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;AXA Philippines and GrowSari representatives during the memorandum of agreement signing. The partnership will offer free life insurance and a Daily Hospital Income benefit for Gold members of GrowSari\u2019s Loyalty Program.&lt;\/p&gt;\n\" data-medium-file=\"http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo-300x175.jpg\" data-large-file=\"http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo-1024x596.jpg\" src=\"http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo-1024x596.jpg\" alt=\"\" class=\"wp-image-35752\" srcset=\"http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo-1024x596.jpg 1024w, http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo-300x175.jpg 300w, http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo-768x447.jpg 768w, http:\/\/www.teampcheng.com\/blog\/wp-content\/uploads\/2022\/06\/AXA-x-GrowSari-Signing-Group-Photo.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption>AXA Philippines and GrowSari representatives during the memorandum of agreement signing. The partnership will offer free life insurance and a Daily Hospital Income benefit for Gold members of GrowSari\u2019s Loyalty Program.<\/figcaption><\/figure>\n\n\n\n<p>Many small businesses like <em>sari-sari<\/em> stores are constantly at risk of encountering financial challenges. According to the <a href=\"https:\/\/documents1.worldbank.org\/curated\/en\/577711612554662972\/pdf\/Results-from-the-High-Frequency-Social-Monitoring-Survey-of-COVID-19-Impacts-at-the-Community-Level-Philippines-Round-1.pdf#page=6\">World Bank<\/a>, at least 81 percent of informal retailers like <em>sari-sari <\/em>stores suffered job losses at the height of the pandemic in 2020. With a relatively small capital, which they use to sustain daily operations, these micro enterprises are badly affected when the owner gets sick or hospitalized, especially when this is their main source of income.<\/p>\n\n\n\n<p><a><\/a>To help <em>sari-sari<\/em> store owners and their families during health emergencies, AXA Philippines, one of the country\u2019s leading insurance providers, recently partnered with GrowSari, a tech-enabled B2B platform that supports MSMEs in the Philippines, including <em>sari-sari<\/em> stores, <em>carinderias<\/em>, pharmacies, and other roadside and market shops, to provide protection during emergency situations by offering free insurance coverage to member <em>sari-sari<\/em> store owners. The coverage includes a death benefit as well as a Daily Hospital Income (DHI) benefit in case of hospitalization.<\/p>\n\n\n\n<p>\u201cOur partnership with GrowSari is in line with our advocacy of providing better protection and financial literacy among micro, small, and medium enterprise owners. Through this partnership, we hope we can better the lives of Filipino entrepreneurs amid this pandemic and beyond,\u201d said Alok Rungta, AXA Philippines Chief of Retail Proposition.<\/p>\n\n\n\n<p>Attesting to this was Mai Mai Punzalan, GrowSari Chief Marketing Officer, who said, \u201cIt\u2019s important, in terms of financial inclusion to drive awareness and education among MSMEs such as <em>sari-sari<\/em> store owners, to let them know that there are a lot of financial products that can help them during health emergencies. We are happy to have this partnership with AXA Philippines because their mission of promoting health and protection is aligned with the more secure future we envision for <em>sari-sari<\/em> store owners.\u201d<\/p>\n\n\n\n<p>The free insurance coverage is part of GrowSari\u2019s Loyalty Program that is available to its Gold members who opt to be part of the program. It offers life insurance worth P35,000, as well as a DHI benefit amounting to P1,500 for 3 days of confinement. The DHI helps alleviate the burden of income loss should the beneficiary need to be confined in the hospital.<\/p>\n\n\n\n<p>From only 1,000 members in 2018, GrowSari\u2019s members grew to 50,000 at the height of the pandemic in 2020, and doubled in number in 2021 to 100,000 active stores in 220 municipalities. The partnership with AXA has so far protected over a thousand GrowSari members, as more <em>sari-sari <\/em>store owners embrace the importance of insurance in ensuring a more secure and safer future for their families.<\/p>\n\n\n\n<p>To know more about AXA, visit <a href=\"https:\/\/www.axa.com.ph\/\">https:\/\/www.axa.com.ph\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many small businesses like sari-sari stores are constantly at risk of encountering financial challenges. According to the World Bank, at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2730],"tags":[7514,7515],"class_list":["post-35751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","tag-axa-philippines","tag-growsari"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AXA Philippines and GrowSari offer free insurance to sari-sari store owners - Team PCheng<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.teampcheng.com\/blog\/lifestyle\/axa-philippines-and-growsari-offer-free-insurance-to-sari-sari-store-owners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AXA Philippines and GrowSari offer free insurance to sari-sari store owners - Team PCheng\" \/>\n<meta property=\"og:description\" content=\"Many small businesses like sari-sari stores are constantly at risk of encountering financial challenges. 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