Singapore based InsurTech Igloo and Indonesian telecom giant Telkomsel will together introduce a series of innovative insurance services across Indonesia.
A recent joint statement by the two companies this collaboration will promote the growing role of embedded insurance in Asia Pacific (APAC)’s mobile-first markets. Telkomsel becomes Igloo’s second major telecommunications partner, following its collaboration with a major telco provider in the Philippines in 2024.
The new partnership will bring new innovative insurance products to more than 150m Telkomsel customers in Indonesia, including cybersecurity, gadget, travel, and phone screen protection.
The launch of these products aligns with the changing lifestyles of Indonesians, characterised by increased digital adoption among a digitally-savvy middle class and a growing propensity towards online purchases.
The joint press release said that according to an Indonesian market research agency Indonesia boasts over 210m internet users, with a mobile penetration rate of 77% – driven by affordable smartphones and competitive data plans. Meanwhile, 73% of e-commerce transactions are made via mobile devices.
A first phase of this collaboration sees the launch of the following products for Telkomsel prepaid subscribers, with more slated for subsequent rollouts. These include cyber security insurance, gadget insurance, phone screen protection insurance and travel insurance.
Telkomsel vice president of data solutions Alfian Manullang said, “With more Indonesians spending time and money online, this strategic and innovative partnership reinforces our commitment to not just connect but also protect our users by empowering them with simple, secure, and accessible digital insurance solutions.”
Igloo CEO and co-founder Raunak Mehta said, “Over the years, we have made a name for being the InsurTech that helps businesses embed consumer-centered insurance protection within seamless purchasing journeys. To be able to do this for Telkomsel’s over 150m customers is further testament to our expertise and commitment in this area.”