PriyaPatel
TLDR:
- Igloo partners with TrueMoney to offer health insurance products to Thai users.
- The collaboration provides critical illness, personal accident, and hospital benefit insurance products through the TrueMoney app.
Full Article:
Singapore-based regional insurtech Igloo has partnered with TrueMoney, a Thailand-based e-payment and financial service provider, to offer critical health insurance products to Thai users. These products, which include critical illness insurance from ThaiVivat, personal accident insurance from Dhipaya, and hospital benefit insurance from Tokio Marine, are now accessible through the TrueMoney application. The initiative aims to enhance accessibility, affordability, and convenience for users in Southeast Asia, where there is a growing need for health insurance.
According to the World Health Organization, cancer is identified as one of the leading causes of death in the region, with millions of new cases and deaths reported each year. By providing affordable insurance plans starting at 40 baht per month for critical illness, and 99 baht per month for personal accident and hospital benefit insurance, Igloo and TrueMoney are addressing the financial security needs of individuals, especially during uncertain times.
Raunak Mehta, Co-Founder and CEO of Igloo, highlighted the importance of making insurance more accessible and empowering individuals through this partnership. TrueMoney’s Co-President, Tanyapong Thanmavaranukupt, mentioned that the collaboration allows younger generations to easily access insurance products online, catering to their preferences and needs.
TrueMoney, known for championing financial inclusion through innovative services, enables Igloo to reach underserved populations and those in remote areas. The partnership with TrueMoney aligns with Igloo’s strategy of working with fintech leaders in the region to develop tailored insurance solutions for consumers. In Vietnam, Igloo has partnered with Zalopay, in the Philippines with GCash, and in Indonesia with DANA to offer unconventional insurance products tailored to consumers’ lifestyles.
Igloo, a regional insurtech firm with a presence in multiple Southeast Asian countries, leverages big data and automated claims management to create insurance solutions for platform and insurance companies. The company has partnered with over 75 well-known brands across various industries, including insurance, telecommunications, e-commerce, and financial services, to boost insurance penetration among Gen Z consumers.
