- Igloo launches igloo.co.id, introducing its D2C solution to expand offerings in the insurance ecosystem, following its success in the B2B2C and business-to-agent models.
- igloo.co.id offers motorcycle, car, pet, and travel insurance products from top insurers, leveraging Igloo’s strong existing insurance network
- By offering affordable lifestyle products addressing needs overlooked by traditional insurers, Igloo aims to change views on insurance and increase insurance penetration
Singapore, 23 October 2024 – Regional insurtech Igloo launches its direct-to-consumer platform igloo.co.id in Indonesia to broaden its solutions in the insurance value chain. Building on its success in embedded insurance and business-to-agent models, the new platform leverages Igloo’s strong insurance network to offer tailored microinsurance products for digital consumers in one place. The debut of igloo.co.id is set to further expand insurance accessibility, in line with the insurtech’s mission of making insurance available to all.
On igloo.co.id, consumers can explore a variety of insurance products, including motorcycle, car, pet, and travel insurance from top insurers such as Zurich, Sompo, SinarMas, and Oona. Users have easy access to complete information on products and their coverage, detailing what is and isn’t covered under each plan, which addresses a common source of customer dissatisfaction. They can also track, manage, and retrieve important details about the policies they’ve purchased in one location.
igloo.co.id offers a seamless customer experience, backed by Igloo’s robust product and tech capabilities. Features include Fast Quotes with minimal form-filling, Buy-Now-Upload Later for easy document submission, and Claims Support to assist throughout the claims process. Support is also available through WhatsApp, telesales, and digital-only channels.
According to Indonesia’s Financial Services Authority, insurance penetration in the country remains at 2.7 percent, significantly lower than in other ASEAN countries. Platforms like igloo.co.id can significantly boost insurance penetration, inclusion, and digital literacy in Indonesia, particularly among young Indonesians. These individuals, who are notably more tech-savvy, better informed financially, and driven to secure their future, stand to benefit greatly from the accessibility and affordability of options provided on igloo.co.id.
igloo.co.id was designed to provide Indonesians with a straightforward way to discover, select, purchase an array of insurance products. By offering simple, affordable, and relatable insurance products that address needs often overlooked by traditional insurers and cater to the lifestyle of Indonesians, Igloo seeks to transform current perception on insurance products.
“We are thrilled to launch igloo.co.id in Indonesia, a platform that underscores Igloo’s dedication to making insurance simple and straightforward for customers. igloo.co.id empowers consumers to explore, learn about, and select the insurance products that best suit their needs. By doing so, we are able to tackle the critical challenges of accessibility and information transparency that have traditionally hindered insurance adoption in the country,” stated Raunak Mehta, CEO of Igloo.
“igloo.co.id quickly found its footing since its soft launch in May 2023, attracting nearly 20,000 visitors each month with minimal marketing. Throughout the soft launch period, we discovered that customers valued straightforward purchase processes and reliable customer service and we’ve incorporated these insights to create a platform we are proud of. At Igloo, we continually refine our products based on customer feedback, aiming to understand what works well and identify areas for improvement,” added Mehta.
Igloo is committed to revolutionising insurance distribution, bridging traditional and digital channels. In 2022, Igloo launched Ignite, equipping agents with a digital platform containing all the tools they need to sell more effectively and keep pace with their customers who still heavily rely on agents. In 2023, it formed partnerships with Oppo, realme, and Circle K to engage consumers who still prefer to shop offline, facilitating their transition to online channels. Igloo’s expertise in developing and designing insurance products and customer journeys has been recognised widely; it has been named ‘Insurtech of the Year’ for two years running in the Asia Fintech Awards.
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About Igloo
Igloo is a regional full-stack insurtech firm headquartered in Singapore. It has offices in Singapore, Indonesia, Thailand, the Philippines, Vietnam and Malaysia and tech centres in China and India. 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. It has partnered with over 75 well-known brand names across the markets in various verticals, including insurance, telecommunications, e-commerce, hospitality, health tech and financial services. Recognised by the industry for its innovations and expertise, Igloo was named ‘Insurtech of the Year’ in the 2023 and 2024 Asia Fintech Awards.
For more information, please visit https://www.iglooinsure.com/.
For Media Enquiries
PRecious Communications for Igloo
igloo@preciouscomms.com