MANILA, PHILIPPINES– eSports is experiencing incredible growth globally with analysts projecting that the eSports market as a whole will grow to US$5.48 billion by 2029 from US$1.44 in 2022.
The Philippines is one of the countries where eSports is becoming increasingly popular. The country is home to the biggest eSports organization in Southeast Asia and to some of the most talented esports players in the world, ranking 8th in the world in terms of skills. As a rising gaming juggernaut, 95.8% of Filipino internet users play video games across different devices. In fact, 76% of Filipino gamers prefer to play on mobile phones due to its affordability and accessibility.
With the continued growth of the industry and its recognition as an official sport in events including the Olympics, it’s not surprising that many Filipinos are beginning to view becoming a professional gamer as a career option and are investing in good quality gear to upgrade their gaming experience and performance.
Improving one’s skill takes time and logging in hours upon hours of playtime can lead to the wear and tear and damage in gamers’ devices. Continuing to play on a damaged phone or one with a cracked screen not only presents challenges to gameplay performance, it can also cause injuries to the player.
Regional insurtech Igloo understands that fixing damaged parts or in more serious cases, replacing the entire phone itself, can be very expensive, which is why it introduced various insurance products to not only protect mobile devices from unwanted incidents such as cracked screens and water damage but also the health of mobile gamers.
With the Cracked Screen Protection and the 360-degree Phone Protection, mobile users are provided complete protection for their mobile devices for as low as P21 a month through the GCash GInsure Marketplace and Shopee.
“The global gaming industry is growing at such a rapid rate, with Southeast Asia accounting for over 50% of this growth. At Igloo, we aim to provide insurance products for every kind of lifestyle and that includes mobile gamers,” said Igloo’s Country Manager for the Philippines Mario Berta. “Through products like the Cracked Screen Protection and the 360-Phone Protection, we aim to ensure that Filipinos are able to access affordable comprehensive protection through convenient, easy-to-use platforms like GCash and Shopee.”
The health risks of mobile gaming
The loss or damage of one’s gaming smartphone isn’t the only risk when embarking on a mobile gaming career as long hours of gaming and spending hours in one position can also lead to health issues such as carpal tunnel syndrome or even heart attacks.
The World Health Organization has sounded the alarm over Video Game Addiction or Gaming Disorder as legitimate illnesses that plague gamers from all over the world. Understanding its role in providing protection to mobile gamers, Igloo, together with leading Indonesian e-wallet platform DANA, introduced Gamers’ Protection last year.
The award-winning product provides coverage for heart attacks and carpal tunnel syndrome, illnesses that can be caused or exacerbated by frequent and long gaming sessions.
“While we share the world’s enthusiasm for mobile gaming, we understand that gaming for long periods of time can also pose health risks for gamers. Understanding our role as an insurtech company providing protection, has spurred us to create Gamers’ Protection,” said Mario. “Gaming is more than just having the best device or skills–it’s also about having protection for yourself and your devices to unleash your full gaming potential.”
Gamers’ Protection is currently available in Indonesia but Igloo is looking to bring the product across Southeast Asia in the near future.
“We’ve seen how this insurance product has benefited gamers from Indonesia and are currently seeking to introduce said product to other countries within the region in the near future as we believe Southeast Asian gamers will benefit from the protection this product provides,” Mario added.
Igloo is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia, Thailand, The Philippines, Vietnam and Malaysia and tech centers in China and India. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimize and enhance existing products and services. Igloo has partnered with over 55 well-known brand names across the markets in various verticals, including insurance, telecommunications, e-commerce, hospitality, health tech and financial services.
For more information, please visit https://www.iglooinsure.com/.
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