Igloo teams up with Tokopedia, expands insurance coverage in Indonesia.

April 12, 2024
1 min read






Article Summary

TLDR

  • Igloo partners with Tokopedia to extend insurance protection in Indonesia.
  • Tokopedia and Igloo collaborate to offer insurance products accessible to consumers and MSMEs in Indonesia.

Singapore-based insurtech firm Igloo has partnered with Tokopedia, one of Indonesia’s leading e-commerce companies, to make insurance protection products more easily accessible to consumers in Indonesia. Through this collaboration, Tokopedia will offer three Igloo-powered insurance products to individuals and MSMEs across Indonesia.

Key Points

Igloo and Tokopedia’s partnership will bring insurance protection products to 99 percent of districts in Indonesia and over 14 million MSMEs in the country. The insurance products offered include gadget protection, electronic protection, and total loss coverage at affordable prices.

The collaboration strengthens Igloo’s network of online shopping platforms across Southeast Asia and enhances the customer experience on Tokopedia’s platform. Customers will have access to dedicated customer support and a seamless claims settlement process.

Indonesians spent a significant amount on electronics in 2023, emphasizing the importance of protecting consumers when purchasing gadgets and electronics online. The collaboration aims to increase financial literacy among Indonesians and contribute to the national economy through accessible and affordable insurance solutions.

Co-Founder and CEO of Igloo, Raunak Mehta, highlighted the potential of e-commerce platforms as distribution channels for insurance. The partnership with Tokopedia marks Igloo’s first collaboration in Indonesia following a successful funding round in 2023.

Igloo, with offices across Southeast Asia and tech centers in China and India, leverages big data and automated claims management to create innovative insurance solutions. The firm has partnered with various industry players in different verticals to make insurance accessible and affordable through embedded solutions.


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