Three Indonesian unicorns to invest in insurtech startupMarch 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.
- December 20
The technology implementation is a first for motor insurance in Asia.
- November 2
New technology and approaches are making it a potentially sustainable and profitable business line.
- October 31
The opportunities and pitfalls of insurtech were debated at the Singapore International Reinsurance Conference.
- October 24
The business will be led by RKH Specialty chief executive Barnaby Rugge-Price.