Atome Philippines and Chubb Philippines have launched Atome Card Shield, an insurance plan combining online shopping protection with personal accident coverage, available to Atome cardholders for approximately USD 1 per month.
Building on a regional partnership
The launch builds on a regional partnership between Atome and Chubb established in 2024, aimed at developing insurance products tailored to multiple Southeast Asian markets. In the Philippines, Atome Card Shield is designed for the more than 3 million Atome cardholders in the country, approximately 80% of whom are first-time cardholders who use the card for daily expenses such as groceries, transport, and utility bills.
According to the companies, Atome Card Shield may represent the first insurance product for many of these cardholders. By combining online shopping protection and personal accident coverage into a single low-cost plan, the partnership is intended to extend insurance access to underbanked Filipinos who have historically had limited exposure to insurance products. Atome users between the ages of 18 and 75, with good credit standing, can activate the plan directly within the Atome app.
Coverage details
Atome Card Shield includes buyer and purchase protection, covering online purchases if an item does not arrive, does not match the seller's description, or is damaged or stolen within 30 days of purchase, with reimbursement up to the purchase value. The plan also covers online shopping fraud and unauthorised transactions, including purchases from fraudulent websites or sellers, and unauthorised transactions made using an Atome Card. Personal accident coverage is also included, providing benefits for accidental death, including while riding a motorcycle, and accidental permanent disablement, with coverage of up to approximately USD 2,439 (PHP 150,000).
Company commentary
A company official at Chubb Philippines said insurance has often remained inaccessible to everyday Filipinos due to cost, complexity, or a lack of awareness of available options, adding that the partnership aims to offer a localised insurance product that helps narrow the insurance protection gap for individuals and families in the Philippines.
A company official at Atome Philippines described the launch as an extension of the company's approach to offering accessible financial tools, noting that the product may represent a first insurance purchase for many customers. The official said the addition of insurance alongside Atome's existing card, lending, and savings products reflects the company's broader positioning as a financial services platform for everyday Filipinos.
Broader implications
The launch reflects a wider trend among buy now, pay later (BNPL) providers in Southeast Asia to expand into adjacent financial services, including insurance, as companies look to deepen engagement with existing customers while addressing gaps in access to formal financial products among underbanked populations.
