Igloo operates a full-stack insurance technology platform that utilizes artificial intelligence and big data for real-time risk assessment and automated claims management. The platform addresses the lack of accessible and affordable insurance options in Southeast Asia by enabling businesses to create tailored insurance products that enhance customer engagement and streamline operations.
Funding
$98.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals and businesses in Southeast Asia lack access to affordable and relevant insurance coverage, leaving them vulnerable to financial hardship from unexpected events. Traditional insurance models often involve complex processes and high costs, creating barriers to entry for a large segment of the population.
Solution
Igloo provides a full-stack insurtech platform that leverages AI and big data to offer accessible and tailored insurance solutions. The platform enables businesses to create customized insurance products that cater to the specific needs of their customers, enhancing engagement and driving revenue. By streamlining operations and automating claims management, Igloo reduces inefficiencies and makes insurance simpler and more affordable. Igloo's partner-friendly API allows for easy integration of insurance products into existing technology systems, while its dynamic pricing model and real-time risk engine ensure competitive rates and value for money.
Target Audience
Igloo serves individuals and businesses in Southeast Asia, including e-commerce platforms, telecommunications companies, banking institutions, and MSMEs, who seek accessible, affordable, and tailored insurance solutions.
Features
- Partner-friendly API for seamless integration of insurance products
- Integrated Know-Your-Customer (KYC) workflow to reduce response time and improve customer satisfaction
- Dynamic pricing model and real-time risk engine for competitive rates
- Smart claims management system for transparent, fair, and fast claims submission
- AI-powered platform to streamline the sales process for insurance intermediaries
- Microinsurance products that address the pain points faced by consumers in their everyday lives
- Transit insurance that protects merchants and consumers against lost or damaged items during transit
- Usage-based motor insurance product that offers lower premiums for safer drivers