To Thrive, Not Just Survive: The Need to Accelerate Digital Transformation in Southeast Asia’s Insurance Industry

How Insurtechs like Igloo are driving digital transformation and expanding access to coverage 

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%.

Igloo kicks off 2025 with multi-market partnership wins and Chief Distribution Officer appointment

Leading regional insurtech Igloo expands reach through new partnerships and products with notable consumer finance brands, e-commerce platforms, and digital wallets in Southeast Asia including Salmon, Skyro, and Shopee in the Philippines; Kredivo, DANA, and Akulaku in Indonesia, and True Money and Lazada in Thailand 

Insurance industry vet Sasitharan Krishnan joins as Chief Distribution Officer to lead Igloo’s multi-modal distribution across digital and traditional channels  

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. 

Filipinos Gain Easier Access to Insurance with SeaInsure and Igloo Partnership

IN PHOTO (L-R): Christopher Young, Insurance Business Leader, SeaInsure General Insurance Co., Inc.; Rebecca Dela Cruz, President, SeaInsure General Insurance Co., Inc.; Stephen Segismundo, General Manager, Igloo Insurance Brokers Inc.; Jose Arceo, Head of Placement, Igloo Philippines.

Filipinos can now easily access various personal and family insurance plans from SeaInsure Philippines through Igloo Philippines’ AI-powered app, Ignite by Igloo.

The changing face of insurance: How tailored microinsurance products are key to relevance and adoption in the Philippines

For most people, understanding insurance boils down to the four most common types: life, health, auto, and long-term disability. While awareness of insurance importance is increasing, the aforementioned traditional insurance products are failing to resonate with many people due to various reasons including affordability, accessibility, and relevance. These factors have largely contributed to the low insurance penetration in the Philippines, which stands at 1.68% as of September 2023. 

This is where microinsurance is changing the game as insurtechs and insurance companies have introduced personalized microinsurance products that cater directly to the unique lifestyles and needs of Filipinos as they go through various stages of their lives. As an insurtech, Igloo and its partners have been instrumental in facilitating a wide array of microinsurance products that safeguard the unique needs of digital natives and underserved sectors. These products run the gamut from travel insurance, to electronics protection, e-commerce purchase protection, and even protection for the gamers’ health.

Regional insurtech Igloo eyes more opportunities to drive financial inclusion in the Philippines with US$ 27-M in fresh funding

Following a successful $27-M Series B+ funding, regional insurtech Igloo is gearing up to further accelerate financial inclusion in Southeast Asia. Seeing tremendous growth in the Philippines, Igloo will be allocating a portion of the funding to deploy more insurance solutions and increase coverage across the country.