We’re a full-stack insurtech firm

“What about people who can’t afford insurance?”
“Why do people find it hard to trust insurers?”
“Can buying insurance be less cumbersome?”

These were the questions that led to the start of Igloo (formerly Axinan), Southeast Asia’s leading full-stack insurtech firm. 300 million policies facilitated later, we’re still driven by the same mission: to make insurance accessible and affordable using data and tech. In other words, Insurance for All.

We’re a Singapore-headquartered full-stack insurtech firm. With a vision of making insurance accessible for all, we provide people-first insurance solutions that are simple, painless and honest. We leverage big data, real-time risk assessment, and end-to-end automated claims management to create insurance solutions for platforms and insurance companies.

We currently have offices in seven countries across East Asia, with expertise and capabilities spanning actuarial, commercial, product, marketing and operations.

We make insurance
accessible

We believe that everyone should have access to insurance services that are affordable, simple, effective and honest. We are making this happen by partnering with like-minded partners.

We make insurance
desirable

Contact our team of experts to build tailored, value-focused insurance products to attract customers and unlock new revenue streams into the growing East Asian insurance market. South Asia.

We make insurance
simple

Our agile innovation process makes it easy to build and manage insurance products. Just give us the platform and we’ll build the technology.

Insurance for all

Vision

Insurance for all

We want to give people the freedom to pursue what truly matters in their lives and the confidence to take risks. Because people understand that they are covered by insurance.

Mission

Making insurance accessible and affordable using data and tech

We exist to give people the insurance that they deserve. Insurance that’s simple to use, painless and honest. Insurance that’s people-first.

How Igloo has grown over the years

2016-2017
  • Founded by former Grab CTO Wei Zhu as “Axinan” (to mean “peace of mind and heart”), with the mission of making insurance accessible for all through technology.
  • Established our business model and tech base, launched our first partnerships and acquired seed funding with 10 employees.
  • Facilitated close to 10 million policies.
2018-2020
  • Rebranded to “Igloo” with a Vision of 'Insurance for All'.
  • Spearheaded commercialisation with product, regional and channel expansion.
  • Market validation: Raised Series A and A+ funding.
  • Expanded operations to Thailand and the Philippines.
  • Secured combined General and Reinsurance license issued by Labuan Financial Services Authority (Labuan FSA) in 2019, as well as a digital brokerage license in Indonesia in 2020.
  • Grew team to 80.
  • Facilitated close to 55 million policies.
2021
  • Focus on operational excellence.
  • Expanded operations to Vietnam and Malaysia.
  • 100+ employees.
2022
  • Launched Ignite by Igloo, a digital platform for intermediaries.
  • Chief Commercial Officer, Raunak Mehta gets promoted to Co-Founder and Chief Executive Officer.
  • Raised US$19 million in Series B funding, bringing Igloo's total fundraising to over US$36 million.
  • Extended Series B funding by US$27 million, bringing Igloo's total fundraising to over US$63million. The round was led by impact investor BlueOrchard, joined by Women’s World Banking Asset Management (WAM), FinnFund, La Maison and Cathay Innovation.

Awards and accolades

Backed by leading VCs

Backed by Japan-based Daiwa Securities Group, ACA is a leading private equity and venture capital firm that invests in mid-market Asian companies in expansion and mature stages. The company has invested in over 40 companies across various industries including technology, healthcare, and services.

BlueOrchard is a leading global impact investment manager and member of the Schroders Group. As a pioneering impact investor, the firm is dedicated to generating lasting positive impact for communities and the environment, while aiming at providing attractive returns to investors. To date, BlueOrchard has invested over USD 9.8bn across more than 105 countries. 

Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital, investing in startups at the center of digital revolution across North America, Latin America, Europe, Asia and Africa. As a multistage fund with over $1.5 billion assets under management and offices across San Francisco, New York, Paris, Shanghai, Beijing and Singapore, Cathay Innovation partners with visionary entrepreneurs and startups positively impacting the world through technology.

Finnfund is a Finnish development financier and impact investor that invests in businesses which solve global development challenges. Our focus sectors include renewable energy, sustainable forestry, sustainable agriculture, financial institutions, and digital infrastructure and solutions. Today Finnfund’s investments, commitments, and investment decisions total about 1.12 billion euros, half of them in Africa. 

Founded in 2012, InVent is a corporate venture capital arm of Intouch Holdings PLC (SET: INTUCH), an asset management & investment company in the telecom, media and telecommunications sector in Thailand. Intouch Holdings is the parent company of Thailand’s largest mobile phone operator provider, AIS. InVent focuses on strategic investments in early to growth-stage tech startups focusing in Thailand and overseas, regardless of sector from digital lifestyle consumer to digital enterprise and emerging technologies.

La Maison is an investment company backed by investors from diverse professional and geographical backgrounds among them the Dassault family, the David Weill family, Cointreau family, Carlo de Benedetti, Xavier Niel, Maurice Levy and others. La Maison co-invests in growth stage, late stage deals, LBOs with very exclusive and highly qualified Venture Capital / Private Equity teams. Since its creation, La Maison has realized more than eighty investments leading to c.€ 700 million under management.

Linear Venture is a Shanghai-based early-stage venture capital firm with a special focus on applied data intelligence. It was founded by former JD (China's Amazon) and Tmall's (Alibaba's B2C brand) executive Michael Zhang and Facebook's founding employee Harry Wang. The firm has $100m of assets under management and has invested in over 30 startups in China, Silicon Valley, and Southeast Asia.

Openspace is a leading Southeast Asia-based venture capital firm that makes investments in early-stage technology companies throughout the region. Openspace has more than US$500m of committed capital in the region and has invested in over 35 portfolio companies to-date. Key areas of investment include fintech, healthtech, edutech, consumer applications and cloud-based solutions.

Headquartered in Paris and with offices in San Francisco, Paris, Berlin and Dakar, Partech is a global venture capital firm investing in the seed, venture, and growth stages. The firm targets investments in a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Companies backed by Partech have completed more than 20 IPOs and more than 50 strategic exits above $100M.

Women’s World Banking designs and invests in the financial solutions, institutions, and policy environments in emerging markets to create greater economic stability and prosperity for women, their families, and their communities. Women’s World Banking Asset Management (“WAM”) invests in innovative inclusive finance companies in the emerging markets, guiding them to capture the substantial market share of financially under-served women and the substantial talent pool of women staff and leaders. WAM’s first Fund was a pioneer of gender-focused impact investing in inclusive financial service providers. 

As Featured On

Asian presence

At Igloo we continue to grow throughout Southeast Asia.
We currently have offices across 6 cities in Southeast Asia, with expertise and capabilities spanning commercial, insurance, product, marketing and customer service.
We work with close to 30 partners across Indonesia, China, Singapore, Thailand, Vietnam, Malaysia and Australia in e-commerce, Telecommunications, Banking, Insurance & Lifestyle industries to deliver over 10 product lines to consumers in the region.
We work with close to 30 partners across Indonesia, China, Singapore, Thailand, Vietnam, Malaysia and Australia in e-commerce, Telecommunications, Banking, Insurance & Lifestyle industries to deliver over 10 product lines to consumers in the region.
igloo-presence-map

We’re always looking out for talented individuals to join us in our vision to provide Insurance for All

We have roles spanning actuarial, commercial, product, marketing and operations across our six offices regionally