Should You Buy an Insurance Policy from a Mobile App? Yes—This is Why

Mobile technology advancements in the past few years have changed how insurance companies operate. Thanks to the advent of mobile insurance apps, you can get insured in minutes without having to speak to a financial advisor! 

Mobile apps for insurance offer portability, convenience, efficiency, and improved customer service. Moreover, you can use them as a channel to interact with your provider directly. 

There are many advantages to managing your insurance policy via a mobile app. Find out more in this article. 

What are Mobile Insurance Apps and How Do They Work? 

Mobile insurance apps are designed to streamline various processes for clients or users. 

With a mobile insurance app, you can conveniently apply for insurance, view your policy, check your due date or premium payments, and make changes to your policy. Some apps offer the option to buy additional policies, withdraw benefits, or file claims. You can also refer to helpful in-app tools to understand your insurance policy better. 

Insurance companies launch their own mobile insurance apps to attract new customers, improve processes and customer service, and give users quick access to information. 

Are Mobile Insurance Apps Safe to Use? 

Yes, mobile insurance apps are safe to use. 

But because of the vast amount of customer data they hold, these apps can be targeted and attacked by cybercriminals. Fortunately, insurance companies and insurtechs (insurance technology^[1]) ensure their apps are secured against most, if not all, of these attacks. 

They implement strong authentication, encryption, and authorization mechanisms to prevent data leaks and breaches. They also conduct regular audits and data backups and observe data protection laws and regulations.

In addition, insurance companies make their mobile insurance apps available only on secure and reputable app stores. App updates are also regularly available for any fixes or patches. 

Read more: Should You Get Life Insurance? Consider These 8 Factors

Why Should You Get Insurance via a Mobile App?

Mobile insurance apps provide significant advantages, especially when it comes to ease, speed, simplicity, and accessibility. Here are other noteworthy perks:

👍 Buy a Policy Comfortably in Your Own Time

Because everything you need is right on the app, you can compare various policies any time. There’s no pressure to decide immediately! Also, apps eliminate the awkwardness of answering questions regarding your employment or medical history. 

In short, you can easily choose and buy a policy wherever or whenever you need to without speaking to a financial advisor.

👍 Access Policies Conveniently 

If you’re shopping around for a life insurance policy, you can download your provider’s mobile insurance app, view electronic brochures, and get quotations that break down sample premium payments based on your provided information. 

If you’re an existing policyholder, just sign up with your insurance details. From there, you can view your policy details 24/7. Note that there’s no extra charge for this service. 

👍 Access Helpful Resources Any Time 

If there’s something unclear or confusing about a policy, you can use the app’s helpful tools and guides 24/7 with just a few taps. Whether you’re accessing your insurance policy, checking your coverage or your premium payment’s due date, or filing a claim, you can quickly pull up the information by logging in to the app. 

Instead of calling your financial advisor or your insurance company’s customer service hotline, you can simply log on to the app to find exactly what you’re looking for. 

👍 Manage Your Policy Whenever, Wherever

The best thing about a mobile insurance app is you can manage your policy conveniently. With the help of the app’s user-friendly interface and step-by-step instructions, you gain greater control and save time on requests you can resolve independently. 

👍 Get Automated Payment Reminders and Confirmations

Most mobile insurance apps include features like automated reminders for insurance premium payments. This ensures you pay conveniently and on time. 

You can also receive payment confirmations quickly. Just turn on app notifications to receive them on your phone. 

👍 Receive Timely Updates or Announcements

As a policyholder, you want to stay updated on the latest company announcements or changes (if any). A mobile insurance app makes this more convenient, as you can receive notifications immediately. There’s no risk of missing out on crucial information that can potentially affect your insurance coverage. 

👍 Enjoy Digital Documentation 

Because mobile insurance apps contain your digital insurance policies, they are the greener or more environmentally friendly alternative. Companies don’t need to send you a physical copy of your insurance policy. 

This also reduces the risk of misplacing your physical copy. 

Read more: Secure Your Future with the Best Life Insurance in the Philippines

What are the Limitations of Mobile Insurance Apps?

You must have a stable internet connection to download, sign up, log in, and use mobile insurance apps. Also, you must meet the app’s operating system and mobile device requirements to install it successfully. 

While mobile apps for insurance are advanced and well-designed, they can also experience technical issues. When checking or managing your insurance policy, you may still encounter system failures or connectivity issues. 

Moreover, mobile insurance apps offer limited human interaction, which can be a problem if you have a unique insurance situation or a complex insurance claim. 

How to Get Life Insurance via the Singlife Plan & Protect App

So what’s the best insurance app in the Philippines? Singlife, the first purely digital life insurer in the Philippines, offers the first and only mobile insurance app in the country. The Singlife Plan & Protect App lets you save for emergencies, plan your future, and protect your financial goals through savings and insurance. 

Singlife Plan,^[2] the app’s built-in financial planning tool, recommends goals and target amounts based on your personal information—handy if you don’t want to have to consult a financial advisor.

Note, however, that you’re not limited to these recommendations. You’re in full control, so you can opt to customize your policy however you want. 

You don't need to download other apps for financial planning, savings, insurance, and investment. As a mobile-first company that offers insurance products for every budget and various needs, the Singlife Plan & Protect App can do it all: 

• If you’re looking for life and disability insurance, Protect from Income Loss pays out a monthly cash benefit in case of disability or death. 
• Protect from Medical Costs is a health insurance plan that gives cash benefits for hospital confinement and 125 critical conditions. 
• Protect Your Goals is an investment-linked insurance that grows and protects your savings to help you achieve your future goals.  

Here’s how to avail of insurance via the app:

1. Download the Singlife Plan & Protect App.
2. Complete the registration process and verify your identity.
3. To view the insurance products, click the Protect tab on the bottom. 
4. Once you’ve chosen an insurance product that fits your needs and budget, tap the Get Started button and follow the prompts.
5. Answer the online application form questions and make your first premium payment to start your coverage. 

Read more: Personal Accident Insurance: What is It and Where to Get One?

Final Thoughts

The best mobile insurance app should let you do it all—planning, saving, and investing. Plus, it should be easy to understand and user-friendly. The good news is that the Singlife Plan & Protect App ticks all these boxes! 

Now that you know how the app works, get the right insurance coverage for you and your loved ones—it’s the best gift you can give them. Download the app now by clicking the banner below:

DISCLAIMER: This article was created in partnership with Singlife Philippines. While we are financially compensated for this collaboration, we ensure to maintain our editorial integrity to provide you with the best recommendations that can help you make smarter financial decisions.

Source: 

• ^[1] Overview of Insurtech & Its Impact on the Insurance Industry (Investopedia, 2023)
• ^[2] FAQs | Singlife Philippines