List of Insurtech Startups in Indonesia

Startups engaged in the Insurtech (Insurance Technology) in Indonesia not many players. Insurtech is a business that is trying to digitize insurance product management, in the form of information channels and product comparisons, service orders, and insurance claims. The following is a list of Insurtech startups in Indonesia:

PasarPolis

PasarPolis one of the startups in the insurtech field which was officially introduced to the public on March 3, 2015. Mentioned PasarPolis has partnered with more than 100 insurance products from around 30 insurance partners who market their products on the site PasarPolis. PasarPolis provides six types of insurance products, such as travel, personal accident, property, health, life and motor vehicle insurance.

Last year, after announcing its expansion ambitions into regional markets starting with Thailand and Vietnam, PasarPolis began to develop in the tourism sector, namely the insurance products offered PasarPolis such as travel insurance and flight delays. While for E-commerce The products offered include coverage for product damage during the shipping process.

KingPremium

KingPremium is an insurtech startup with the first insurance portal in Indonesia. The startup, which has actually been in the works since 2012, was initiated by three founders, Chang Jeh as CEO, Keith Chee as CTO, and Margaretha Venny as General Manager.

This service, which claims to be the pioneer of the online insurance market in Indonesia, offers many products, one of which is life and health insurance. Through this site, people are invited to compare prices and choose products that suit their needs. In fact, rajapremi.com also provides free consultations with independent insurance consultants to make it easier for prospective service users to choose the right insurance.

Qoala 

Qoala is also an insurtech startup that bridges the insurance claim process through a technology system. Qoala itself is under PT Archor Teknologi Digital and is a one of the participants from Grab Second batch of Ventures Velocity (GVV).

All Qoala claim processes use -based digital technology artificial intelligence (AI). The point is to speed up the process of identifying someone. So that the claim process becomes more effective and of course faster. The claim time promised by Qoala only takes a few minutes. Even claims can be sent via OVO and Gopay digital payments.

Wowpremium

WowPremi is included in the list of insurtech startups that not only serve online life insurance policy applications, but also help prospective customers match their insurance needs because WowPremi provides many insurance categories from leading insurance companies. Besides being supported by the Financial Services Authority (OJK), WowPremi collaborates with payment gateways that are supported by 21 banks and credit cards so that the insurance payment process is guaranteed to be safe and instant.

Futuready

Futuready is one of Indonesia's insurtech startups whose business is a brokerage company (better known as broker) insurance, with dedicated online sales channels. This company is claimed to have an official license from the Financial Services Authority (OJK) with the business name PT Futuready Insurance Broker and license number no. KEP-518/NB.1/2015.

Having previously focused on customer onboarding, currently Futuready focus on overall customer service, especially in terms of the insurance claim process. Supported by technology and customer payment options, they mention that the claim process can be done in just 48 hours.

Igloo

Igloo is an on-demand digital insurance for screen protection. Applications equipped with technology machine learning it provides special insurance services for screen protection (screen protector) for all types and brands of mobile phones available in Indonesia.

Currently Igloo only provides insurance for cellphone screens, but in the future Igloo will also provide insurance for travel, furniture and valuables protection in apartments.

Lifepal

Lifepal, startups insurtech which comes in the form of a platform marketplaces, its services help compare, purchase and use insurance products according to your needs and budget. The products offered start from Health Insurance, life insurance, vehicle insurance, travel insurance, and so on.

Lifepal provides a choice of packages Health Insurance and a complete soul, starting from the Family Package, Critical Illness Package, Pregnancy Package, to the Elderly Package. Also offers a comparison of protection with the best benefits and the lowest premium prices from various brand well-known insurance to protect company employees.

9lives

9Lives (PT. Nine Lives Indonesia) is a company insurtech startup Indonesia which is engaged in the business of digital consulting activities and management of other information technology facilities, which provides services in the search and purchase of insurance policies. As well as insurance claims through an mobile devices application.

Present in Indonesia since 2018, 9Lives trying to be relevant to innovation microinsurance. Most recently they launched Selfie Insurance which specifically protects the face in the event of an accident. This product is expected to match its target market, namely millennials, especially women.

check premium

Another financial product comparison service is present in Indonesia. Although not the first CheckPremium made by PT Reventon Mitra Utama is trying to be present as an information portal in the comparison of online insurance products.

As an insurance comparison service provider, check premium has a dual role to benefit consumers and participating insurance partners. Through its official website, currently CekPremi only provides comparison services for insurance products for cars, motorcycles and travel insurance. Another advantage that is offered by CekPremi is that they dare to provide a 200% guarantee of the price difference if consumers find premiums that are cheaper than those sold at Cekpremi.

Premiere

Premiere, an insurance comparison portal that wants customers to be in control. This insurtech startup connects users with selected insurance products instantly without having to leave home or work. Save time and energy. By providing the freedom to choose the insurance that best suits customer needs.

Premiro presents four products. For travel insurance, those who want to go abroad only serve a single trip. In vehicle insurance products, there are various protection options and selected partner workshops are provided. Protection for property and property, available to protect against fire, flood, theft, robbery and various other risks. Next up are health, personal and mental products.

Insurance88

Cooperating with more than 10 insurance providers, Startup insurtech Insurance88 claims to offer its services for free, easy, unbiased and independent. Monetization through ads and lead purchasing products through its website is a business model that Asuransi88 is trying to build.

Through the Internet, Asuransi88 offers convenience for its users to be able to have a dream insurance service from what used to be a long and time-consuming process. With just three steps, as quoted from the press release, users can get the best insurance according to their needs.