Insurtech firm Saphron launches new “heartbreak insurance” product

In perhaps one of the more innovative product launches in the insurance market today, local insurtech startup Saphron today offers “heartbreak insurance” aimed at ensuring that your next breakup has at least a little silver lining (in this case, a one-night hotel stay to nurse yourself back together).

MONA, or “Move On NA”, is reportedly the first-ever heartbreak insurance product to hit the local market. It only costs P300 and assures one that, in case life gets in the way of love, the insured has a staycation waiting for them at any one of Saphron’s partner hotels.

Backed by Pioneer Insurance, MONA is actually a form of Events Cancellation Insurance, which secures a predetermined benefit for the insured if a similarly predetermined event is cancelled. Saphron says this product is designed to be attached to anniversary celebrations, weddings, and the like.

“In case your planned wedding or any relationship anniversary celebration gets cancelled because of a breakup, a critical illness, a cancelled flight, or any of our covered event cancellation causes, we intend to give you that break from heartbreak, with a one-night stay at one of our partner hotels nearest your locality,” the company shared.

Saphron is one of a number of startups under Talino Venture Labs, a venture builder focusing on inclusive and innovative enterprises.

You can find out more about Saphron’s new product MONA here.