Igloo has announced a strategic partnership with Chubb Life to distribute insurance products in Indonesia and Vietnam via Ignite, its insurance sales intermediary platform.
Under the partnership, Chubb Life’s life, health, and critical illness products will be made available through Ignite, Igloo’s AI-powered platform for insurance agents.
Agents in both markets will be able to sell long-term life insurance and health protection products alongside general insurance offerings already available on the platform.
Igloo operates an agency network across both markets. It works with more than 40 insurer partners and over 75 distribution partners in the region.
Its platform supports sales automation. It provides in-app training through iLearn modules. It also consolidates products from multiple insurers into a single interface.
The company said the partnership marks its expansion from general insurance into life and health products. It added that this forms part of its broader strategy to address the protection gap in Southeast Asia.
Life insurance penetration in the region remains low. In Vietnam, life premiums account for around 1.3% of GDP, while in Indonesia they stand at approximately 1%.
The partnership aims to address this gap by combining Chubb Life’s underwriting and product capabilities with Igloo’s agency network and digital distribution reach.
“This partnership with Chubb Life is a significant milestone in Igloo’s journey to become the operating system for insurance in Southeast Asia,”
said Raunak Mehta, CEO of Igloo.
“By combining Chubb Life’s insurance solutions with Igloo’s technology and agency platform, we are enabling agents in Vietnam and Indonesia to offer life, health, and critical illness coverage in ways that are convenient, affordable, and relevant to their customers.
Sang Lee, President of Chubb Life Southeast Asia and New Zealand and Country President of Chubb Life Vietnam, said:
“By partnering with Igloo and leveraging the Ignite platform, we can deliver Chubb Life’s life, health, and critical illness solutions to people where and how they need them. This collaboration enables us to support customers at every stage of life, helping them plan for the future.”
The rollout will begin in June, with further details on product launches and local initiatives to follow.
Featured image credit: Edited by Fintech News Indonesia, based on image by WangXiNa via Magnific
