We’re a full-stack insurtech firm
- “What about the people who can’t afford insurance?”
- "Why do people find it hard to trust insurers?”
- “Can buying insurance be less painful?”
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 Southeast 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 Southeast Asian insurance market.
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
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.
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
- 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.
- 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.
- Grew team to 80.
- Facilitated close to 55 million policies.
- Focus on operational excellence.
- Expanded operations to Vietnam and Malaysia.
- 100+ employees.
- 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.
- Launch Vietnam’s first Weather Index Insurance – a blockchain-based parametric Index Insurance product that automates insurance claims of rice farmers – and covered more than 5000 hectares.
- 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.
- Facilitated close to 300 million policies to date
- Following the success of its Weather Index Insurance for rice farmers launched in November 2022, Igloo expands its reach to coffee farmers in Vietnam.
- Igloo is the first in Asia to provide non-life insurance products through convenience store chains beginning with its Circle K partnership in Vietnam.
- Launched a rebrand of Ignite to celebrate its first-year milestone, the Ignite platform has recruited over 22,000 agents in Vietnam and Indonesia, facilitating the issuance of more than 36,000 policies and showcasing remarkable growth in the markets.
- Pre-Series C funding of US$36 million, bringing Igloo’s total fundraising to US$100 million. The round was led by global investment firm Eurazeo, with participation from Openspace’s OSV+, and returning investor La Maison
- Facilitated close to 480 million policies to date
Meet the team
Our intrepid leader and insurtech evangelist, Wei brings over 20 years of experience working with the top dogs of the tech world. Formerly CTO of Grab, he was part of Facebook’s pioneer engineering team and spent 8-years with Microsoft prior to that. He’s partial to the occasional game of pool.
Raunak MehtaCo-Founder & CEO
Raunak has extensive experience in the e-commerce and technology space, having held leadership roles at Asia’s biggest e-commerce brands Flipkart and Zalora. Since joining Igloo, he has spearheaded its market entry into the Philippines, Vietnam, Thailand, Indonesia, and Malaysia.
Roshan MahtaniChief Financial Officer
Responsible for everything to do with fundraising and keeping our investors happy. A former M&A banker at BDA Partners, KPMG Corporate Finance and Greif & Co.
LiLiang ZhuChief Technology Officer
LiLiang brings along with him over 20 years of experience in global fintech businesses, especially in the space of insurtech and payment.
Sandra ErnstChief Operating Officer
Greasing the wheels across strategy, operations and compliance and ensuring our standards are best-in-class. Banking vet, previously COO and Founder CEO at CardUp and Smartfunding.sg.
Wilson TsengChief Business Officer
Ecommerce vet and former Alibaba and Grab exec Wilson is responsible for driving Igloo’s commercial strategy, identifying and developing new growth opportunities and revenue streams.
Jack XiaChief Actuary
Responsible for Managing risk with some help from machine learning and predictive modelling. A fellow of the Society of Actuaries and Chartered Enterprise Risk Analyst.
Ray NguyenCountry Manager, Vietnam
Helming Igloo Vietnam, Ray leads the team across business development, partnerships, marketing and operations. Ray’s experience spans industries such as e-commerce, banking, financial services and insurtech.
Mario BertaCountry Manager, Philippines
A highly experienced leader within the tech industry, with extensive history of building and scaling businesses across the SEA in multiple sectors of eCommerce, Fintech and telecommunications.
Henry MixsonCountry Manager, Indonesia
With over a decade’s experience in technology and fintech, Henry served as the Country Manager and Regional Head of Credit at Aspire Financial Technology and was a member of the core funding team at Tunaiku/Amar Bank.
John ChenCountry Manager, Thailand
A true citizen of the world who has seen stints in the Middle East, India, Turkey, Germany and more, John brings over 15 years of experience in mobile comms, computer hardware and e-commerce with brands like Lazada, Xiaomi and Asus.
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.