- In its first-year milestone, the Ignite platform for sales intermediaries 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
- This rebrand showcases Ignite’s growth and commitment to action, and boosts the agents’ productivity with 20 advanced features
- The enhanced Ignite also offers over 30 plans – across seven product categories – from over 10 insurers in Vietnam and Indonesia
SINGAPORE, 20 July 2023 – Regional insurtech Igloo marks the one-year milestone of Ignite by Igloo, a digital platform for sales intermediaries with the unveiling of new vibrant branding to reflect the company’s growth and commitment to empower its agents to sell more, more easily.
Since its launch in early 2022, Ignite has recruited over 22,000 agents in Vietnam and Indonesia and helped facilitate over 36,000 policies. With the surge of online distribution channels for insurance, Igloo introduced Ignite in early 2022 to empower agents with a one-stop app to enhance the customer experience and retain relevance in the digital environment. With Ignite, agents can now streamline their customer service and administrative work to focus more on selling.
Nguyen Dieu Huyen, an insurance agent using Ignite in Vietnam, shared, “With customers becoming increasingly digital, they’re starting to consider buying insurance online due to convenience—it’s easier and faster to get and there are just more products to choose from. Using Ignite, we are able to equip ourselves with digital upskilling so we can do our work better and quicker so we can meet the increasing demand of our customers.”
Meanwhile, RR Tri Rejeki, an Indonesian agent from Indonesia, said, “Our work entails face-to-face meetings with clients and this usually takes time because traffic jams are so bad. And this client-facing is just one aspect of our job, we need to attend to time-consuming processes for onboarding clients, claims settlement, appraisal, and more.”
Expanded product offerings and new features
Featuring a new vibrant brand identity, Ignite has been upgraded from nine to 20 advanced features to heighten usability and boost productivity for agents. Sales intermediaries in Vietnam and Indonesia can now offer over 30 plans across seven product categories within the platform including Motor Vehicle Insurance, Travel Insurance, Personal Accident Insurance, and Property Insurance.
In response to the increasing demands of its expanding network of agents, Ignite has introduced a range of advanced features to foster seamless processes for agents in their interactions with customers and sales teams These new functionalities include:
- A brand new user interface for a faster and smoother browsing experience
- Fast quote shortens the purchase flow by calculating premiums and generating quotes within seconds
- Secure payment processing helps their clients transact with confidence
- Team and sales data management tools to reduce the time of manual reporting with data management and analysis tools
- Track and report commissions straight into their bank account in real-time
“Agents play a pivotal role in democratising insurance across Southeast Asia, as their human touch remains a potent force in insurance sales. Ignite’s new logo embodies our growth and commitment to action, and serves as a testament in bridging gaps within the insurance value chain towards the realisation of our mission of making insurance for all,” Raunak Mehta, Co-Founder and CEO shared.
Also providing digital empowerment to insurance underwriters, the Ignite app aligns its goal of digitalising agent operations with over 10 insurers1 including MSIG, BSH, Sinarmas Insurance and Tugu Insurance. By the end of 2023, Igloo has set its sights on launching Ignite in multiple markets, with a goal of facilitating sales for 50,000 agents and a Gross Written Premium (GWP) of 50 times of 2022.
“Igloo will continue to add more products across multiple insurers and provide features that make the entire agent experience from onboarding to selling a superlative experience,” he added.
Igloo’s regional footprint has been on a strong growth trajectory, cementing partnerships with over 55 companies across seven countries and offering over 15 products in its expanding product suite. It has facilitated over 300 million policies and increased gross written premiums by 15 times since 2019. Since its inception, Igloo has been making insurance accessible and affordable through data and technology in Southeast Asia and is the only insurtech in the region with all major economies contributing to its performance.
Igloo is the first full-stack insurtech firm to emerge from Singapore. It has offices in Singapore, Indonesia, Thailand, the Philippines, Vietnam and Malaysia and tech centres located in India and China. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimise and enhance existing products and services. Igloo has partnered with over 50 well-known brand names across the markets in various verticals, including insurance, telecommunications, e-commerce, hospitality, health tech and financial services.
For more information, please visit https://iglooinsure.com/.
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PRecious Communications for Igloo