About Igloo

Leading full-stack insurtech in Southeast Asia with multiple verticals in all key SEA markets

We build insurance

We’re a full-stack insurtech firm

Who is Igloo?

“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. More than 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 eight countries across Southeast Asia, with expertise and capabilities spanning actuarial, commercial, product, marketing and operations.

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policies facilitated

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devices insured

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credit life policies insured

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women supported

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hectares of farmland protected by Igloo's weather index solution

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SMEs covered

Insurance for all

Our commitment

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.

Join us in our mission Meet the team

Igloo is diversified across four main distribution channels

Partnerships
We work with partners to embed and distribute relevant insurance products bundled within their goods and services during the user journey.
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Direct-to-consumer
We offer insurance products directly to consumers in markets where we have a licence to sell insurance products.
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Sales intermediaries
Ignite digital platform for sales intermediaries to sell products to their network.
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Brokerage
Igloo acts as an intermediary channel to sell corporate policies to companies.

Our business lines

Igloo is a digital-native company with a flexible, modular, and user-oriented product & tech offering

Digital-native

Igloo is a digital-native company with a flexible, modular, and user-oriented product & tech offering

Data driven

We leverage big data, machine learning and AI to power deep learning technologies that create superior products and delightful user experiences.

Full-stack

We are one of the few truly full-stack insurtechs in the Southeast Asia region with everything done inhouse

Established distribution

Having facilitated half a billion policies since 2019 across 55+ partners in 6 markets and 4 main distribution channels, we have deep expertise, experience and foothold in the industry.

How Igloo is different?

How Igloo has grown over the years

Our milestones

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.
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.
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

2023

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

Igloo’s B2B2C business works with some of the biggest consumer companies in SEA

As featured on

Igloo is the only insurtech with multiple verticals in all key markets in Southeast Asia

We work with over 70 insurance and distribution partners across 6 markets in Asia in industries such as e-commerce, telecommunications, banking, insurance, lifestyle, consumer finance and logistics to deliver over 15 product lines in the region.

Igloo's presence

Igloo has a seasoned management team with a diverse set of experiences

Our leadership

Wei Zhu
Co-Founder
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 Mehta
Co-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 Mahtani
Chief 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 Zhu
Chief Technology Officer
LiLiang brings along with him over 20 years of experience in global fintech businesses, especially in the space of insurtech and payment.
Wilson Tseng
Chief 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.
Dr Jack Xia
Chief 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.
Sasitharan Krishnan
Chief Distribution Officer
With 30 years in insurance sales distribution, Sasi held key roles in Sompo Asia, Allianz Ayudhya, Tune Protect, ReMark, HSBC Bank, AmBank, and Mayban Life (now Etiqa).

Walter Wong
Director of Strategy
After honing his management consulting chops at BCG, Walter led corporate strategy in brands like Foodpanda and Deliveroo, with a focus on new business incubation and regional expansion.
John Chen
Country Manager, Thailand & The Philippines
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.