Three Indonesian unicorns to invest in insurtech startup

March 2 2018 by InsuranceAsia News Staff

Three one-billion-dollar Indonesian startups are looking to invest in PasarPolis, an insurtech startup, according to sources familiar with the matter.

The Indonesian unicorn investors are Go-Jek, Traveloka and Tokopedia, which are reportedly engaged in advanced discussions to invest in PasarPolis, which is one of the first online portals in Indonesia to offer insurance options in health, vehicle, accident, property, travel and life cover.

Its platform allows users to compare, select and buy insurance policies offered by around 30 leading insurers, including AXA, AXA Mandiri, Lippo Insurance and Zurich.

The startup has also recently forged a partnership agreement with government-backed workers’ insurer BPJS Ketenagakerjaan to permit workers to register for its programme.

Go-Jek also offers its drivers insurance in partnership with PasarPolis. Industry sources say that Go-Jek, Traveloka and Tokopedia are expected to buy a small stake in PasarPolis, which is currently valued at US$12 million.

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