Redefining Coverage: How Igloo Is Leading the Digital Shift in Southeast Asian Insurance

Southeast Asia’s insurance industry is at a crossroads. Despite rapid economic growth and rising demand for financial protection, insurance penetration remains low. In fact, in many countries like the Philippines, it remains at 1.78%, while countries like Vietnam are at 2.8% and Indonesia is at 1.4%.

 

One of the biggest barriers in the industry is its continued reliance on outdated legacy systems, which create inefficiencies in underwriting, claims processing, and customer management, driving up costs and making insurance inaccessible to many. The region’s fragmented market, made up of numerous small, independent insurers, further complicates digital transformation efforts, leaving the industry ill-equipped to meet evolving consumer expectations. 

“Unlike global insurance powerhouses that invest heavily in digital ecosystems, Southeast Asia’s insurance market remains highly fragmented. Many insurers operated independently, lacking the scale to afford large-scale technological upgrades,” said Raunak Mehta, Igloo’s Co-Founder and CEO. “As an insurtech that has been in the industry for almost a decade, Igloo has seen how shifting to digital is not an option anymore–it’s a necessity. Without it, the industry risks falling further behind and leaving millions of underserved individuals without access to affordable coverage. An accelerated digital transformation is the key to bridging this gap, enabling insurers to offer innovative products and improve accessibility for the growing middle class in Southeast Asia.”

 

Modernizing insurance processes end-to-end

Igloo, a regional insurtech leader with over 650 million policies facilitated and more than 75 partnerships, offers innovative embedded insurance solutions that seamlessly integrate insurance into core business products. This simplifies policy applications, purchases, and claims management, reducing friction for providers and distributors while streamlining underwriting and claims processing to make the system more efficient, user-friendly, and accessible to a broader audience.

 

Igloo partners with major online platforms like Lazada and Shopee, payment services such as GCash in the Philippines to develop customized insurance products that integrate into their digital ecosystems. It also collaborates with telecom companies like Smart, consumer finance platforms like Skyro and Salmon, and B2B MSME enabler Growsari in the Philippines to expand access to insurance across various sectors. This frictionless model simplifies the purchasing process, improving conversion rates and appealing to customers who may not have considered insurance otherwise. 

 

Meanwhile, Igloo’s Ignite platform streamlines the sales process for intermediaries, offering a user-friendly interface, a quick quote system, secure payment processing, and real-time referral fee tracking. With 42 products across nine categories, Ignite has expanded to Vietnam, Indonesia, and the Philippines, and was awarded Mobile App of the Year - Vietnam at the Insurance Asia Awards 2024.

 

The next step to digitalization? Leaving legacy systems behind

“But beyond this, we see immense value in helping insurers of all sizes fully embrace digital transformation by evolving their systems to become more agile and customer-centric,” said Mehta. 

 

Igloo is helping the industry move away from legacy systems by introducing modular, no-code platforms that enable businesses to scale efficiently, reduce operational complexities, and enhance customer experiences. This way, Igloo empowers insurers to digitally define their underwriting rules, set up sales and operational processes, and launch products through the appropriate distribution channels. They can then monitor performance and identify areas for improvement. From creating their insurance marketplaces to seamlessly embedding products with retail partners' platforms, and improving agent-driven insurance sales, Igloo is reshaping how insurance can be delivered in a modern, scalable way.

 

“At the end of the day, our role as an insurtech is not only to facilitate digitalization but also to enable insurers to thrive in this era of digitalization. By adopting scalable technologies, insurers can simplify operations, expand their reach, and provide value to customers in ways that traditional systems simply couldn’t,” Mehta added.

 

Learn more about Igloo’s products and solutions by visiting iglooinsure.com.

How Igloo is Supporting Women Entrepreneurs in the Philippines Through Tech

 This National Women’s Month, leading regional insurtech Igloo is celebrating the unstoppable spirit of women who are transforming industries, breaking barriers, and redefining success. 

According to Packworks’ business intelligence tool, Sari IQ, 75% of sari-sari stores in the Philippines are owned by women. To support these women entrepreneurs, Igloo has partnered with various organizations to provide tailored insurance products that offer financial protection against unforeseen risks. Together with its partners, Igloo delivers accessible and affordable microinsurance solutions, covering business disruptions, health emergencies, and personal accidents. 

“At Igloo, we believe that financial protection should be accessible to everyone, especially the women entrepreneurs who form the backbone of many communities. By embedding our insurance solutions into digital platforms that women already use, we are breaking down barriers and ensuring that they have the security and confidence to grow their businesses and secure their futures,” said Roberto Vea, Igloo’s Head of Commercial for the Philippines

Igloo’s partnership with B2B MSME enabler Growsari, a technology-driven platform dedicated to helping small retailers and sari-sari stores digitize their operations and expand their businesses, continues to strengthen financial protection for MSMEs. The Personal + Business Protection Plan offers up to P150,000 in financial coverage for accidents and up to P35,000 in cash assistance to help store owners safeguard their property or inventory in cases of flood and fire. Additionally, Igloo and Growsari are working on initiatives to expand access to insurance products further, enabling sari-sari stores to offer protection plans to their customers and communities.

Likewise, Igloo also introduced NegosyoCare in 2024, which serves as a critical financial safety net for women entrepreneurs, particularly ensuring they can sustain and grow their businesses despite unforeseen challenges. Available via Gcash’s Insure Marketplace, NegosyoCare offers coverage against fire, accidents, and damages with affordable premiums starting at just P160 per month or P525 per year. Underwritten by Malayan Insurance, the policy provides up to P50,000 in benefits for accidental death, permanent disability, and dismemberment, medical reimbursement of up to P5,000 fire cash assistance of P10,000, and burglary and payroll protection of P10,000. 

By making insurance accessible through familiar digital platforms, Igloo empowers women-led businesses to secure their livelihoods, protect their families, and contribute to economic resilience in their communities. Through innovation and empowerment, Igloo is ensuring that women-led businesses not only thrive but become pillars of economic resilience, creating a future where financial protection is a fundamental right for every woman striving for success.

Learn more about Igloo’s products and services by visiting iglooinsure.com

Igloo Starts 2025 Strong with Multi-Market Wins and New Chief Distribution Officer

 l Leading regional insurtech Igloo enters 2025 with a strong push, launching new partnerships, introducing new products with existing partners across the region, and appointing a Chief Distribution Officer to grow its embedded insurance and sales intermediaries business lines. 

 

New and enhanced partnerships with leading brands

Building on their collaboration in 2024, Igloo and Salmon are strengthening their partnership in 2025 with the launch of Gadget Protection in the Philippines. This new offering will cover device repairs and replacements for gadgets purchased through Salmon’s platform, complementing their existing loan protection coverage, which safeguards repayments in case of unforeseen incidents.

Similarly, Igloo’s partnership with Skyro, which introduced Gadget Protection and Loan Protection last year, is expanding in 2025 with the introduction of Goods Protection. Through this new product, home furniture, clothing, auto accessories, and even toys can now be protected from the same everyday risks.

 

As access to credit remains a challenge in the Philippines, consumer finance platforms like Salmon and Skyro provide financial and insurance access to underbanked and unbanked segments. These platforms currently serve an estimated 300,000 Filipinos.

 

Igloo continues to strengthen its ties with Shopee in the Philippines, launching its fifth product, Goods Protection to its existing suite. Since 2022, the partnership has facilitated over 16.9 million protection plans across product lines with Shopee’s 56 million monthly visitors.

 

Underwritten by SeaInsure, Goods Protection covers eligible items purchased on the platform—such as electronics accessories, vehicle spare parts, baby gear, and office supplies—that suffer total loss or damage due to accidents like fire, collision, falls, liquid damage, or being run over.

 

In Indonesia, Igloo has two new partnerships under its belt - with leading fintech company Akulaku, and consumer finance platform Kredivo. With the former, gadget protection service underwritten by Victoria Insurance, covers repairs and replacements for gadgets purchased on the platform with a one-year coverage period. With smartphone users expected to reach 249.95 million by 2029, this service meets the growing demand for reliable device protection in the country’s increasingly digital market.

 

Igloo also continues to innovate with new offerings like Xtra Protection- its fifth product with Indonesian e-wallet platform DANA, which currently serves 200 million users. As more Indonesians move to digital payments with transactions expected to grow to US$371.6 billion in 2025, the product is timely, protecting users from lost wallet balances due to fraud. 

 

Igloo’s collaboration with consumer finance platform Kredivo - which serves more than 10 million users, introduces Travel Domestic, covering trip cancellations, lost baggage, and more.

 

In Thailand, Igloo has expanded its partnership with e-payment and financial services provider True Money to include coverage for cars and motorcycles, building on the success of its health and accident insurance offering from the previous year, this new product extends protection to approximately 20.7 million registered vehicles across the country. Meanwhile, the successful collaboration with Lazada Thailand, which serves millions of customers in the country, also sees the addition of a fifth product - Flight Insurance for domestic and international trips. 

 

“These partnerships underscore Igloo’s efforts to make insurance more seamless and integrated into everyday online transactions, and as we enter 2025, we are building on this momentum by deepening our commitment to making insurance more accessible, affordable, and seamlessly integrated into digital experiences. The slew of new partnerships — and the expansion of existing ones — within the first months in 2025 heralds our positive trajectory and highlights the continued value we provide in embedding insurance across diverse industries in Southeast Asia,” Mehta added.

 

Key regional hire to accelerate growth in Southeast Asia

In addition, Igloo has added to its leadership fold Chief Distribution Officer (CDO) Sasitharan Krishnan who brings over 30 years of expertise from the insurance distribution sectorserving as Senior Vice President for Asia Affinity at insurance giant Sompo and Chief Officer of Digital Sales at Allianz Ayudhya Assurance.

 

In his role, Sasi will drive Igloo’s distribution strategy with a key focus on brokering regional deals, and increased value for Igloo and its partners through relationships with regional and local insurers. He will also bring mentorship and rigor to Igloo’s commercial organisation.

 

“With Sasitharan’s addition, we will make significant strides in accelerating growth,” Mehta explained. “His extensive experience in insurance distribution and digital sales will be instrumental in building new partnerships, driving value for Igloo and our partners and ensuring our products are consumer-centric, accessible, and effectively delivered across business lines.”

 

Learn more about Igloo, its partnerships, and technology by visiting iglooinsure.com.

 

Exploring Beyond the Usual: Japan and South Korea Top Travel Picks for 2025 Adventure-Seekers"

 Planning your next travel adventure? Japan and South Korea remain popular destinations, celebrated for their rich cultural heritage, culinary delights, and scenic beauty. Agoda noted that they are some of the countries most visited by Filipinos.  Interestingly, 2025 marks a year of exploration, with an Agoda survey revealing that 84% of travelers are eager to discover new destinations. This trend adds to the allure of exploring lesser-known, off-the-beaten-path locations within Japan and South Korea, offering fresh experiences in these beloved destinations, especially if you’ve been here a couple of times.

For those seeking unique experiences away from the usual crowds, these spots in Japan and South Korea offer the perfect opportunity to explore something fresh and extraordinary. Both countries offer a blend of traditional and modern experiences that resonate deeply with Filipino travelers, who appreciate the accessibility, vibrant cities, and family-friendly attractions. For 2025, consider adding these hidden gems to your travel list for a unique and unforgettable experience.

Japan

1. Tottori Sand Dunes, Tottori Prefecture

Source: Japan Guide

Nestled along the Sea of Japan and just outside the Tottori city center, the Tottori Sand Dunes offer a slice of desert-like beauty. Spanning 16 kilometers, these dunes are perfect for sandboarding, camel rides, or simply admiring the striking landscape. Formed over thousands of years by sand from the Sendaigawa River carried to the coast by ocean currents, they are a geological wonder. Nearby, visit the Sand Museum to marvel at intricate sand sculptures crafted by international artists.

2. Shirakami Sanchi, Aomori and Akita Prefectures

Source: Experience Shirakami

A UNESCO World Heritage Site, Shirakami Sanchi is a pristine forest with ancient beech trees, waterfalls, and serene hiking trails. The estimated 8,000-year-old forest is also said to be the inspiration for Studio Ghibli’s Princess Mononoke (1997). For a peaceful retreat, explore the Anmon Falls or trek to the peak of Mount Shirakami for breathtaking views.

South Korea

3. Hahoe Folk Village, Andong

Source: Asia Society

Step back in time at Hahoe Folk Village, a UNESCO-listed site preserving Korea’s traditional hanok houses. Located in Andong, this living museum offers a glimpse into the Joseon Dynasty’s culture. Don't miss the mask dance performances and savor authentic Andong jjimdak, a flavorful braised chicken dish.

4. Oedo Botania, Geoje Island

Source: Visit Korea

This hidden paradise is a marine botanical garden on Geoje Island. Featuring European-style terraces, lush gardens, and panoramic sea views, Oedo Botania feels like a dream. Accessible by ferry, it’s a serene escape perfect for nature lovers and photography enthusiasts.

5. Damyang Bamboo Forest, Damyang

Source: Visit Korea

Escape to the lush greenery of Damyang Bamboo Forest, also known as Juknokwon. This tranquil retreat offers winding paths surrounded by towering bamboo, providing a peaceful atmosphere for leisurely walks. The area is also famous for its bamboo-inspired dishes, such as bamboo rice and bamboo ice cream, which are must-tries for any foodie.

How to travel safely and in style

The allure of hidden destinations lies in their ability to offer something different—a break from the usual tourist crowds and a chance to immerse yourself in untouched beauty and local culture. Exploring such places often feels like uncovering a secret, making every moment more personal and memorable. Imagine the thrill of standing atop the Tottori Sand Dunes, feeling the expanse of a desert-like wonder, or wandering through the tranquil paths of Namiseom Island, surrounded by the fiery colors of autumn.

Timing is everything when visiting these hidden gems. Traveling during off-peak seasons allows you to experience the destinations at their most serene, whether it’s walking along Shirakami Sanchi’s pristine trails or exploring Oedo Botania’s lush gardens without the rush of crowds. This also ensures that you have ample time to soak in the atmosphere and truly connect with your surroundings.

Reaching these spots is often an adventure in itself. From scenic ferry rides to winding bus routes, the journey becomes part of the experience. Researching transportation options ahead of time ensures a smoother trip, while regional travel passes can help you save both time and money.

To make the most of these destinations, dive into the local way of life. Engage with locals, learn their stories, and savor regional delicacies like Andong jjimdak or unique dishes from Tottori Prefecture. Even a simple exchange of pleasantries in Japanese or Korean can open doors to warm conversations and lasting memories.

As you plan your trip, remember that hidden destinations often come with their own set of challenges, such as remote locations or limited facilities. This is where comprehensive travel insurance becomes essential. Developed in collaboration with GCash and Malayan Insurance, Travel Master ensures you’re covered for personal accidents, flight delays, lost luggage, medical emergencies, and even COVID-19 protection. Securing this coverage is effortless—simply head to the GInsure page in your GCash app, choose Travel Master, and fill in your travel details. Within moments, you’ll have a policy that keeps you protected no matter where your journey takes you.

Exploring hidden destinations isn’t just about seeing new places; it’s about forging unique memories and experiencing the world in a way that feels personal and extraordinary. Whether you’re chasing nature’s marvels, immersing yourself in cultural heritage, or seeking peaceful retreats, the hidden gems of Japan and South Korea await. Start planning now and let the road less traveled lead you to unforgettable memories.

Igloo on Driving Insurance Growth in the Philippines

 End-to-end digitalization of insurance is becoming a crucial strategy to boost insurance penetration in the Philippines, especially as recent data indicates a decline in coverage across the country. In 2023, insurance penetration in the Philippines sank to 1.6%, lower than the 1.73% recorded in 2022.  This decline highlights the urgent need for innovative solutions to make insurance more accessible and appealing to a broader population.

Igloo, a regional insurtech, addresses low insurance penetration by leveraging technology and partnerships to streamline operations across the entire insurance value chain–from insurance and intermediaries to consumers. By digitalizing processes throughout the ecosystem, Igloo enables faster, more efficient services, seamlessly integrating insurance into everyday digital interactions such as e-commerce and travel bookings. 

 

driveEmpowering Intermediaries with a Digital Platform

One key aspect of this digital transformation is the creation of digital platforms for intermediaries. Traditionally, insurance intermediaries rely on manual processes from onboard customers to settling claims, which can be time-consuming and prone to errors. Digital tools allow intermediaries to streamline the entire process from customer onboarding to claim settlement. These tools help manage customer information, assess needs, and complete transactions faster and more accurately. As a result, intermediaries can focus more on building relationships with current and potential clients, rather than being burdened by administrative tasks.

Ignite introduced Igloo, a digital platform that helps insurance intermediaries sell more efficiently. Key features include a user-friendly interface for faster browsing, a quick quote system for instant premium calculations, secure payment processing, and tools for team and data management to simplify reporting. It also tracks referral fees in real time, depositing them directly into bank accounts. Launched in Vietnam in 2022, Indonesia in 2023, and now in the Philippines, Igloo offers 42 products across 9 categories, including Travel, Pet, and Motor protection. It was awarded Mobile App of the Year - Vietnam at the Insurance Asia Awards 2024.

 

Facilitating a Seamless Digital Experience through Embedded Insurance

Igloo is transforming the insurance landscape by providing a seamless, end-to-end digital experience through embedded insurance. As an insurtech platform, it enables businesses to integrate insurance products into their platforms, facilitating seamless policy applications, purchase, and claims management. This reduces friction for both insurance providers and distributors, streamlining complex tasks such as underwriting, policy issuance, and claims processing, making the entire system more efficient and user-friendly.

 

Igloo partners with online platforms like Lazada and Shopee, as well as payment services like DANA in Indonesia and GCash in the Philippines, and retail chains like Circle K in Vietnam, to develop customized and embedded insurance products that integrate smoothly into digital experiences. In addition, telecom companies like Smart, consumer finance platforms such as Skyro and Salmon, and B2B MSME enabler Growsari also collaborate with Igloo in the Philippines to expand access to insurance across different sectors. This enables customers to purchase insurance directly through these platforms with minimal hassle. As a result, consumers can easily discover, evaluate, and buy insurance products in just a few clicks, making insurance a natural part of their everyday transactions. Consequently, securing coverage for travel, electronics, or e-commerce purchases becomes nearly invisible yet highly convenient.

 

This frictionless approach allows customers to opt-in with just a few clicks, which improves conversion rates. It also appeals to those who might not have initially considered insurance but recognize its value when offered conveniently.

 

Bringing Insurance Closer to Consumers, Digitally

Building on its success in embedded insurance and business-to-agent models, Igloo has soft-launched a direct-to-consumer platform in Indonesia, igloo.co.id, where users can explore insurance products like motorcycle, car, pet, and travel coverage from top insurers. 

 

Introducing these platforms is essential for improving insurance accessibility and expanding market penetration. Igloo’s direct-to-consumer platform streamlines the insurance process, enabling users to easily compare products, understand coverage, and manage policies in one place. This approach not only resolves common transparency issues but also empowers consumers to make informed decisions. Digitalization, in this case, increases accessibility, boosts efficiency, and builds trust, ultimately driving higher adoption rates and fostering a more inclusive insurance ecosystem.

 

As the Philippines experiences a decline in insurance penetration, digitalization offers a clear solution to reverse this trend. By simplifying processes for intermediaries and customers alike, insurers can eliminate barriers to entry. The growing prevalence of embedded insurance and direct-to-consumer platforms also exposes consumers to more coverage options, increasing the likelihood of purchasing insurance and improving overall financial security.

Igloo strengthens MSME support with Growsari partnership

From small mom-and-pop shops around the corner, sari-sari stores, and small businesses started by young entrepreneurs, the importance and impact of these micro, small, and medium enterprises (MSMEs) cannot be overstated. These businesses account for 99.5% of the total number of companies in the country and employ 62.8% of the workforce. 

However, the same segment is often exposed to a wide range of risks, from theft, illnesses, or natural disasters. Compared to larger businesses, they struggle to manage these risks more due to limited resources.

Understanding how these businesses are major drivers for economic growth, regional insurtech Igloo together with Growsari, a leading B2B MSME enabler that powers Philippines sari-sari stores, introduced the Personal + Business Protection Plan that provides financial assistance to these neighborhood convenience stores in case of unwanted incidents arising from natural calamities such as floods due to heavy rain.

“Igloo and Growsari share the same goal of protecting MSMEs like sari-sari stores by offering innovative insurance solutions that will help them mitigate risks while ensuring they can continue to thrive and contribute to the growth of their communities,” said Roberto Vea, Commercial Lead at Igloo Philippines. “As we celebrate International MSME Day on June 27, we not only reaffirm our commitment to continue providing them with the tools and protection they need but champion how these businesses are the backbone of our economy, driving innovation, creating jobs, and fostering community resilience.”

The Personal + Business Protection Plan provides up to P150,000 in financial coverage for accidents and up to P35,000 of cash assistance to help them protect their property or inventory in cases of flood and fire in more than 200,000 sari-sari stores in the country.

Beyond this, Igloo and Growsari are empowering these sari-sari stores to eventually extend the same protection plan to their customers and community–giving them ease of access to insurance products that can protect them and their loved ones. This is part of Igloo’s mission to provide affordable and accessible insurance for all.

“We’re not stopping there as we plan to expand the partnership to help cover their customers or sukis against unforeseen events. The goal is to provide the most comprehensive protection product for these businesses, covering not just their assets but also their human capital,” Vea added.

The Personal + Business Protection Plan is one of the latest MSME products Igloo has created with its partners. Last year it introduced NegosyoCare with GCash and Malayan–an insurance product specifically designed to protect MSMEs that provides coverage for accidents and other unwanted situations through the GInsure Marketplace.

These products further Igloo’s mission to provide underserved segments with comprehensive and affordable protection products across the region.

Learn more about Igloo’s products and services by visiting iglooinsure.com

Igloo and Smart Partner to Democratize Access to Device Protection: Highlighting Importance of Accessibility

 

As part of its ongoing efforts to provide accessible and affordable insurance for all, regional insurtech Igloo, together with the Philippines’ largest mobile network Smart, has announced phone protection plans for its growing 55 million subscriber base.

 

This partnership not only furthers Smart’s commitment to enhancing customer experience but also highlights Igloo’s mission to provide as many avenues to device protection as possible for Filipinos, especially with the country being one of the social media capitals in the world.

 

"In the Philippines, 84.4% of the population own smartphones, and individuals spend nearly four hours daily on social media, well above the global average of two and a half hours. As a highly connected and social nation, the importance of these devices for communication, productivity, and entertainment is undeniable," remarked Roberto Vea, Commercial Lead at Igloo Philippines. "Recognizing the essential role of these devices and the need to safeguard them, Igloo has partnered with Smart to introduce phone protection plans, providing our customers with peace of mind."

 

Smart subscribers gain exclusive access to Phone Protect where they can purchase a phone protection plan with their preferred coverage and duration. It offers subscribers protection against accidental and liquid damage and includes professional repair and service at authorized centers for the Basic tier and additional protection against losses due to theft and robbery for the Plus tier.

 

Plans start as low P125 for one year coverage and is one of the most affordable and comprehensive gadget care products available in the market.

 

The insurance plan seamlessly integrates into the checkout process, allowing customers to review the plan details, associated premium, and terms and conditions before finalizing payment. This transparency ensures customers have a clear understanding of the additional cost and the benefits it adds to their transaction, enhancing their overall experience.

 

"We’re excited to expand access to device protection products with Smart, as it aligns with our goal to democratize and enhance the experience of protecting your devices. We've worked to make every aspect—from customer experience to pricing, coverage, purchase, and claims—easy and convenient. Partnering with Smart allows us to reach the widest possible audience." Vea explained.

 

The value of partnerships in providing insurance for all

Igloo and its partners' gadget protection and cracked screen protection products have become some of the most popular segments in the country, with over 15.8 million policies sold through various distribution platforms since January 2023.

 

From consumer finance to e-commerce, Igloo has been working to provide insurance to various sectors in the Philippines and across Southeast Asia. One of its most recent partnerships with Skyro and Salmon provided protection access to the underbanked segment, many of whom rely on digital lending companies for installment purchases.

 

Additionally, in collaboration with Growsari, an MSME enabler, Igloo piloted the Personal + Business Protection plan. This initiative aims to cover over 200,000 sari-sari stores across the country with financial assistance in case of unwanted incidents arising from natural calamities, such as floods from torrential rains.

 

“At Igloo, we believe that to provide insurance tailored to the needs of its market, partnerships are crucial in enabling broader audience reach while offering diverse coverage options. With our partners, we can continuously improve and innovate our offerings to serve as many people as possible,” Vea said.

 

Igloo’s collaboration with Smart and other partners is part of its mission to expand its reach across Southeast Asia and provide innovative insurance solutions to nearly 700 million people in the region.