DSInnovate Report: Development of Insurtech in Indonesia 2021

Insurance is one of the business fields that are considered promising for digital startups to work on. There are many aspects of the service that can be developed, ranging from consumer education, simplification of the product fulfillment process, to a more instant claim process.

In Indonesia service insurtech (insurance technology) arguably still in its early stages. Although there are not many players in quantity, some of them already have a valid business model, one of which is validated through continued funding from venture capitalists.

To see more about how the business is developing insurtech in Indonesia, DSInnovate released a report titled "Insurtech Ecosystem in Indonesia Report 2021". It contains four main topics, including:

1. Conditions of the insurance industry in Indonesia
2. Concept insurance technology
3. Development insurtech in Indonesia
4. Business opportunities and challenges insurtech

Many interesting data and findings were revealed in the report, for example the insurance business in general tends to recover quickly in the midst of a pandemic. Although it had decreased in the early 2020 period, Gross Premium Income increased again as of June 2020.

Furthermore, since 2018 there have been 6 funding transactions involving 3 startups insurtech in Indonesia, accounting for nearly $80 million. Apart from that, there are still interesting things highlighted in the report, including the business model insurtech, list insurtech in Indonesia, to case studies of collaboration between players and with corporations.

Download the full report via the following link: Insurtech Ecosystem in Indonesia Report 2021