Heaptalk, Jakarta — Insurtech startup Igloo continues expanding its business reach by launching its Direct-to-Customer (D2C) platform in Indonesia, igloo.co.id. The platform allows society to choose its multiple insurance products, including travel insurance, transportation (motorbike, car, and electric vehicle), and pet insurance.
Indonesia’s Financial Services Authority insurance penetration in the archipelago is only 2.7%, lower than other ASEAN countries. Through this launch, Igloo’s D2C platform can positively contribute to increasing penetration, inclusion, and digital literacy, particularly among the rising generation.
“During the soft launch period, customers valued the easy purchasing process and reliable customer service. We leveraged these insights to create a platform we are proud of. We continuously refine our products based on consumer feedback to understand what works well and identify areas for improvement.” Head of D2C Igloo Indonesia, Delta Andreansyah, conveyed. (10/24)
Leveraging Igloo’s robust technological capabilities, igloo.co.id offers a seamless customer experience with standout features, including:
- Fast Quotes, enabling quick insurance form completion;
- Buy-Now Upload Later, allowing for easy document submission;
- Claims Support, assisting customers throughout the claims process.
Headquartered in Singapore, Igloo expands its product distribution channels through various business models, including Commercial Partnerships (B2B2C), Agencies (B2A), Brokerage (B2B), and igloo.co.id (B2C). As a result, the company has issued over 200 million policies and handled approximately 3,000 claims.
This insurance company has partnered with ten leading business partners, including Tokopedia and Dana. Since its soft launch in May 2023, it has attracted approximately 20,000 visitors monthly. Igloo will launch personal accident insurance in November 2024 to broaden its more comprehensive insurance products.
Last year, this insurance startup completed a new pre-Series C round funding at US$36 million, led by investment firm Eurazeo and insurance company BNP Paribas Cardif. Igloo’s investors in the Series B and Series B+ rounds, including Openspace and La Maison, were also involved in this round. This fresh injection comes only ten months after the Series B+ fundraising led by InsuResilience Investment Fund ll. Igloo has secured US$100 million in funding from this investment completion and increased its valuation by 50%.