Insurtech firm Igloo has partnered with Tokopedia, Indonesia’s on-line market, to increase the supply of insurance coverage merchandise to a large viewers throughout the nation, concentrating on each particular person shoppers and over 14 million micro, small, and medium-sized enterprises (MSMEs).

Igloo and Tokopedia are set to introduce three insurance coverage merchandise tailor-made to fulfill the wants of web shoppers.

This contains gadget safety ranging from IDR 48,300 (US$ 3.09), digital safety ranging from IDR 14,334 (US$ 0.92) for 12-month interval, and Whole Loss Solely (TLO) protection ranging from IDR 500 (US$ 0.032) for a span of three to 12 months. These choices are designed to be accessible in practically all districts all through Indonesia.

Tokopedia customers will profit from Igloo’s experience in offering seamless insurance coverage protection, from the purpose of buy to claims settlement, complemented by devoted buyer assist.

The collaboration is a part of Igloo’s technique to deepen its integration with on-line procuring platforms throughout the area, becoming a member of forces with different e-commerce giants reminiscent of Lazada and Shopee.

Following its US$36 million Pre-Collection C funding spherical in December 2023, Igloo shared that it’s centered on attaining profitability this yr.

Ruth Afrita

“Tokopedia will proceed to ease entry to digital insurance coverage for its customers by means of collaboration with strategic insurance coverage companions, reminiscent of Igloo. The collaboration between Tokopedia and Igloo will present accessible insurance coverage for merchandise, simply claimed, and steady buyer assist.

 

We additionally hope that this collaboration can present a possibility to extend monetary literacy amongst Indonesians and contribute to the nationwide economic system,”

stated Ruth Afrita, Head of Insurance coverage, Tokopedia.

Raunak Mehta

“Our trade expertise demonstrates e-commerce as a potent insurance coverage distribution channel, safeguarding shoppers all through Southeast Asia.

 

Partnering with e-commerce large Tokopedia bolsters Igloo’s place as the popular insurtech companion for digital platforms, making insurance coverage accessible and inexpensive by means of embedded options,”

stated stated Raunak Mehta, Co-Founder and CEO at Igloo.