Regional insurtech Igloo announced today that it has successfully raised an additional US$27 million in its Series B extension, bringing a close to its Series B funding round at US$46 million. The initial Series B capital raise of US$19M in March this year was led by Cathay Innovation, with further investments from ACA and other existing investors including OpenSpace.

Igloo utilizes blockchain-based smart contracts to facilitate Vietnam’s first Weather Index Insurance that automates insurance claims for paddy farmers. They currently offer coverage for shortfall and excessive rainfall in Mekong Delta region in South Vietnam, with plans to expand.

Insurtech firm Igloo has partnered with Shopee and Bao Viet to launch home content insurance, the first comprehensive protection solution for indoor assets.

Insurtech firm Igloo launches gamer’s insurance, addressing health issues related to prolonged hours amid the rise of mobile sports in Indonesia.