Insurtech startups PasarPolis Expansion to Thailand and Vietnam

Startups insurtech PasarPolis announced its expansion ambitions into regional markets, starting with Thailand and Vietnam. This expansion of business coverage is a follow-up after the company has obtained series A pendanaan funding from Gojek, Tokopedia and Traveloka at the end of 2018. The sectors they want to target with their digital insurance products include: E-commerce, tourist, ride hailing, to logistics services.

"By connecting PasarPolis With partner-owned platforms, we can offer a variety of insurance products from many companies to their consumers. Document verification that is carried out digitally offers a fast claim process for consumers, the process can be completed in three minutes," said Founder & CEO PasarPolis Cleosen Randing.

He also explained that integrated technology is the main strength PasarPolis. Currently the development team has supported more than 30 engineer originating from Indonesia and India.

In the tourism sector, 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.

Since its launch earlier this year in Thailand, it has also integrated its system with the GET application to provide safety insurance to service users ride hailing the. As known, GET is brand expansion result Gojek in the region.

"Recently we provided insurance policies for the GET application, covering motorbike rides, food delivery, and goods delivery services. About 10 insurance companies are involved as our business partners, the number will continue to be increased," continued Randing.

Meanwhile, its expansion in Vietnam – also earlier this year – has resulted in strategic partnerships with Atadi, Sendo and Go-Viet. Both in Thailand and Vietnam, PasarPolis has appointed a Country Manager to lead the business in each region.