Building on its previous success in embedded insurance and business-to-agent models, Igloo‘s new platform aims to expand insurance accessibility for Indonesia’s digital consumers by offering affordable microinsurance products in one easy-to-navigate location.
The platform provides a range of insurance options, including motorcycle, car, pet, and travel insurance, from top insurers such as Zurich, Sompo, SinarMas, and Oona. With a user-friendly interface, igloo.co.id is designed to offer complete transparency on coverage details, helping customers easily understand what is and isn’t included in each plan, addressing a common pain point in the insurance purchasing process.
Key features of igloo.co.id include fast quotes with minimal form-filling, the Buy-Now-Upload-Later feature for easy document submission, and full claims support. The platform also integrates multiple support channels, such as WhatsApp and telesales, to enhance customer experience.
Raunak Mehta, CEO of Igloo, commented on the launch: “We are thrilled to introduce igloo.co.id, a platform that simplifies and democratises insurance access for Indonesians. With igloo.co.id, we address the critical barriers of accessibility and transparency that have traditionally hindered insurance adoption in the country. By offering easy-to-understand products that cater to everyday needs, we aim to transform how insurance is perceived.”
The launch of igloo.co.id is part of Igloo’s broader strategy to revolutionise insurance distribution in Indonesia, where insurance penetration remains at just 2.7%, significantly lower than in other ASEAN countries. With a focus on reaching young, tech-savvy consumers, Igloo aims to increase digital literacy and financial protection in the country.
Since its soft launch in May 2023, igloo.co.id has already attracted nearly 20,000 visitors per month with minimal marketing efforts, showcasing strong demand for accessible and reliable insurance services. “Our customers value simplicity in the purchase process and strong customer service, and we’ve built igloo.co.id around these insights,” added Mehta.
Igloo’s foray into the D2C space is just one part of its broader growth strategy. In 2022, the company launched Ignite, a digital platform designed to equip insurance agents with the tools needed to meet the evolving demands of their clients. The company has also partnered with brands like Oppo, realme, and Circle K to enhance offline-to-online transitions for consumers.
With its innovative approach to insurance distribution, Igloo has earned recognition as “Insurtech of the Year” for two consecutive years at the Asia Fintech Awards
