MANILA, Philippines, Nov 25 (Bernama-GLOBE NEWSWIRE) — MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading tech- and AI-powered personal finance aggregation and comparison platform and a digital insurance brokerage provider in Greater Southeast Asia, today announced a strategic partnership with InsureMO, an insurance innovation infrastructure platform, to expand digital insurance product offerings in the Philippines through MoneyHero’s local brand, Moneymax.
The Philippines has one of the lowest insurance penetration rates in Asia, at around 2% of GDP compared to the regional average of 4–5%, despite being one of the fastest-growing insurance markets. Motor insurance in particular is notably under-served: only about 1 in 3 vehicles on the road has comprehensive insurance coverage, with most drivers relying solely on mandatory third-party coverage#.