Philippines’ pension system joins forces with JICA

The partnership aims to enhance the protection of public properties and assets against disasters.

The Philippines’ Government Service Insurance System (GSIS) collaborated with the Japan International Cooperation Agency (JICA) to enhance the protection of public properties and assets against disasters.

GSIS, in conjunction with the Department of Finance, aims to strengthen capacity in public insurance, covering underwriting, loss control, management, insurance procurement, and awareness promotion.

Launched on 22 November at the GSIS head office, the three-year partnership involves JICA supporting GSIS in safeguarding government insurable interests nationwide.

ALSO READ: The Philippines’ life insurance sector climbs 9.6% YoY in Q2

GSIS President Wick Veloso and JICA Chief Representative Sakamoto Takema led the initiative.

Acknowledging the need to address climate change-induced disasters, Sakamoto stressed the significance of enhancing GSIS's ability to provide risk-based insurance premiums.

Both the Philippines and Japan, being in the "Pacific Ring of Fire," are prone to typhoons and earthquakes.

The collaboration aligns with the Sendai Framework, focusing on preventing new damages, reducing disaster risks, and ensuring swift recovery. As part of the project, GSIS announced the launch of a property inventory mobile app, simplifying property registration for government officers.

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