BPI/MS Insurance Corp.

What BPI/MS Insurance Corp. does

BPI/MS Insurance Corporation is a Philippine personal lines insurance carrier structured as a joint venture between Bank of the Philippine Islands (BPI) — one of the Philippines' oldest and largest retail banks, founded in 1851 — and Mitsui Sumitomo Insurance (MSI), part of Japan's MS&AD Insurance Group. The company is headquartered in Makati, Philippines, employs between 5,001 and 10,000 people, and operates branches across the National Capital Region, Luzon, Visayas, and Mindanao. It is a private, non-listed entity regulated by the Philippine Insurance Commission (IC).

The company's product portfolio is concentrated in personal lines and spans motor insurance (Compulsory Third Party Liability and Comprehensive Motor), home protection (Home Care Advantage), personal accident coverage (Family Personal Accident, PA365, and the runner-focused RunXecure), travel insurance (Travel Care), and specialty products including PasaHERO Protect (commuter accident insurance via the GCash GInsure platform) and BPI Freelancer (coverage for independent workers). Distribution is multi-channel: BPI bank branches act as embedded points of sale, BPI MS Insurance branches handle traditional sales and service, the eProtect online portal and dedicated product sub-domains enable self-serve digital purchase, and the GCash GInsure partnership provides fintech-mediated mass-market distribution at price points as low as PHP 15 per month.

BPI MS generates revenue principally through insurance premiums collected on subscription and annual billing cadences across the product suite, with the Compulsory Third Party Liability line providing a regulated recurring premium floor tied to vehicle ownership. Its go-to-market combines a traditional physical branch network, bank-asset distribution through BPI, and a digital-first PLG motion targeting previously underserved segments (commuters, freelancers, runners). Recent recognition at the Insurance Asia Awards 2026 reflects active investment in claims processes and travel insurance accessibility.

Name

BPI/MS Insurance Corp.

Legal name

BPI/MS Insurance Corporation

Website

https://bpims.com

Company type

Private

Founded year

1851

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

BPI/MS Insurance Corp. is a Philippine personal lines insurer and joint venture between Bank of the Philippine Islands and Mitsui Sumitomo Insurance, distributing motor, home, personal accident, travel, and specialty insurance via BPI branches, its own branch network, and the GCash GInsure platform.

Ownership category

akta.pro rank

Product category

Personal Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Personal Accident Insurance (Injury, Disability & Income Benefit) (FSAJAJAD)

akta.pro secondary industries

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG), Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Directors & Officers (D&O) Liability (FSAJADAF)

Keywords

• Personal insurance products
• Motor vehicle insurance
• Home protection insurance
• Travel insurance coverage
• Personal accident insurance

Headquarters

HQ city

Makati

HQ country

Philippines

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: BPI MS Insurance generates revenue through annual and monthly insurance premiums collected from policyholders across motor, home, personal accident, travel, and commuter protection products.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

BPI/MS Insurance Corp. is a Philippine insurance joint venture (between Bank of the Philippine Islands and Mitsui Sumitomo Insurance) that sells personal insurance products—motor insurance, home protection, personal accident coverage, and travel insurance—to Filipino individuals and families. It distributes through the GCash mobile wallet, its own eProtect online portal, BPI bank branches, and dedicated BPI MS branches across the Philippines.

Product overview

BPI/MS Insurance Corp. is a joint venture between Bank of Philippine Islands and Mitsui Sumitomo Insurance offering a comprehensive portfolio of insurance products. The company provides personal protection solutions including motor insurance (Compulsory Third Party Liability, Comprehensive Motor), home protection (Home Care Advantage), personal accident coverage (Family Personal Accident, PA365, RunXecure), travel insurance (Travel Care Insurance), and specialty products (PasaHERO Protect for commuters, BPI Freelancer for independent workers). Products are distributed through multiple channels including the company website, mobile apps, and partnerships like GCash GInsure platform.

Differentiator

Problem solved

Functional benefit

Products and services

• PasaHERO Protect Accident insurance plan for Filipino commuters using public transportation (jeepneys, buses, tricycles, etc.), offering coverage up to PHP 500,000 for death or disability starting at PHP 15/month, purchased via the GCash app.
• BPI MS Compulsory Third Party Liability Mandatory motor vehicle liability coverage protecting the policyholder against claims for injury or death to third parties, ensuring regulatory compliance for vehicle owners in the Philippines.
• BPI MS Comprehensive Motor Insurance Full motor vehicle coverage protecting car owners against damage, theft, liability, and disasters during everyday driving.
• BPI MS Home Care Advantage Home protection solution covering the property structure and contents, available through an online assessment and application process.
• BPI MS Family Personal Accident Comprehensive accident coverage for the entire family, securing household finances in case of sudden passing or hospitalization due to accidents affecting any family member.
• BPI MS PA365 Affordable personal accident coverage offering PHP 1 Million in accident protection for PHP 1 per day (approximately PHP 365 per year), billed annually.
• BPI Freelancer Insurance protection designed for freelancers, gig workers, solopreneurs, and independent professionals, covering accidents, medical needs, and unexpected work interruptions.
• BPI MS Travel Care Insurance Travel insurance coverage for Filipinos traveling abroad for leisure or business, providing protection against medical emergencies and trip disruptions during international travel.
• RunXecure Personal accident insurance product designed specifically for runners, providing protection while training, racing, and pursuing active lifestyle activities.

Quantifiable outcome

• Coverage up to PHP 500,000 for death or disability with PasaHERO Protect
• +1 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and flagship.

• GCash (GInsure Platform)coreGTM or Marketing Partner · 17 October 2025BPI MS Insurance partnered with GCash through its GInsure platform to launch PasaHERO Protect, an accident insurance product for Filipino commuters. The insurance is available on the GCash app with coverage up to PHP 500,000 for death or disability, starting at PHP 15 per month. This partnership enables digital distribution of insurance products to millions of GCash users.
• Bank of the Philippine Islands (BPI)flagshipStrategic or Co-development PartnerBPI MS Insurance Corporation is a joint venture between Bank of the Philippine Islands and Mitsui Sumitomo Insurance. BPI provides extensive retail banking network and customer base access across the Philippines.
• Mitsui Sumitomo InsuranceflagshipStrategic or Co-development PartnerMitsui Sumitomo Insurance (MSI), part of MS&AD Insurance Group, is the Japanese joint venture partner providing insurance expertise and global best practices to BPI MS Insurance Corporation.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• FWD Life Philippines: FWD Philippines is a digitally-oriented life and health insurer that has been expanding into general insurance. Its digital-first go-to-market mirrors BPI MS's GCash-led embedded distribution, making it comparable as a digital bancassurance / embedded insurance challenger.

Direct peers

• Pioneer Insurance & Surety Corporation: Pioneer Insurance is one of the largest non-life insurers in the Philippines with diversified offerings across motor, property, marine, casualty, and personal accident. Both firms compete for the same corporate and retail P&C accounts with nationwide agency/broker networks.
• AsianLife & General Assurance Corporation: AsianLife & General is a Philippine composite insurer offering life, health, accident, and general insurance. It is comparable to BPI MS as a multi-line domestic insurer operating through agency and bancassurance distribution.
• Paramount Life & General Insurance Corporation: Paramount Life & General is a Philippine life and general (non-life) insurer with motor and accident offerings. Like BPI MS, it competes in retail non-life markets using bancassurance and agency networks.
• Federal Phoenix Assurance Company: Federal Phoenix is a non-life insurer in the Philippines writing motor, fire, casualty, and personal accident. It is comparable as a mid-sized PH P&C competitor targeting similar retail and SME segments.
• MAPFRE Insular Insurance Corporation: MAPFRE Insular is a leading general (non-life) insurer in the Philippines offering motor, property, personal accident, and travel insurance through bancassurance and agency channels. It is the closest direct competitor to BPI MS in product mix and distribution model.

Broad incumbents

• Sun Life of Canada (Philippines): Sun Life Philippines is primarily a life insurance giant but also offers group and personal accident coverage. It is comparable to BPI MS as a major bancassurance-backed (RCBC/Rizal Commercial) brand competing for the same retail customer wallet.
• MSIG Insurance (Hong Kong / Asia): MSIG is the regional Asian operating arm of BPI MS's Japanese parent MS&AD Insurance Group. It underwrites general insurance including personal accident, motor, travel, and home across Asia, making it a sister-company benchmark and partial competitive overlap for embedded insurance products.
• AXA Philippines: AXA Philippines is a broad-based insurance provider offering motor, property, and personal accident products alongside its dominant life insurance business. It overlaps with BPI MS in non-life lines but operates a much wider portfolio including life, health, and investments.

Others

• GInsure / GCash Insurance Partners: GInsure is the GCash-operated insurance marketplace where BPI MS distributes PasaHERO Protect; competing GInsure providers (AXA, Sun Life, etc.) share the same digital shelf. It is comparable as a distribution channel and ecosystem enabler for embedded PH microinsurance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BPI/MS Insurance Corp.