Singapore-based insurtech company Igloo has teamed up with Telkomsel, Indonesia’s largest telecom provider, to offer new and innovative insurance services.
This partnership highlights the growing importance of embedded insurance in Asia Pacific’s mobile-first markets. Telkomsel is Igloo’s second major telecom partner, after a similar collaboration with a leading Philippine telecom last year.
The collaboration will provide insurance products to over 150 million Telkomsel customers in Indonesia. These include cybersecurity, gadget, travel, and phone screen protection insurance.
The launch matches the changing lifestyles of Indonesians, who are increasingly digital-savvy, with more online shopping and mobile usage. Indonesia has over 210 million internet users and 77% mobile penetration, supported by affordable smartphones and data plans. About 73% of e-commerce transactions are done via mobile devices.
In the first phase, Telkomsel prepaid subscribers will get access to cybersecurity insurance, gadget insurance, phone screen protection, and travel insurance, with more products planned later.
Cybersecurity insurance is especially important as Indonesia faces a rise in cyberattacks. In early 2023, the country saw an average of 3,300 cyberattacks per week, the highest in Southeast Asia. In 2024, over 4,400 phishing attacks were reported.
Both companies believe digital protection is becoming essential as cyber threats grow more advanced.
“Embedding insurance protection on the MyTelkomsel App with Igloo reflects our commitment to enhancing the digital lifestyle of Indonesians by offering convenient, secure, and relevant protection that goes beyond connectivity，
“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,” said Alfian Manullang, Vice President of Data Solutions & Digital Financial Services at Telkomsel.
Meanwhile, Raunak Mehta, Chief Executive Officer and Co-founder, Igloo, said itt is great to count Telkomsel, Indonesia’s biggest telco, as one of Igloo’s partners.
“Over the years, we’ve 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 150 million customers is further testament to our expertise and commitment in this area,” he added.
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