Insurtech Igloo is joining forces with TrueMoney, a Thailand-based e-payment and financial service provider, to make essential insurance products available via the TrueMoney application, enhancing accessibility, affordability and convenience for users.
By leveraging the TrueMoney platform, Igloo plans to extend the reach of essential insurance products to the underserved and those residing in remote areas, helping to bridge the protection gap.
Following the partnership, customers can shop for health-related insurance products including critical illness insurance from ThaiVivat Insurance, personal accident insurance from Dhipaya Insurance, and hospital benefit insurance from Tokio Marine Insurance.
Raunak Mehta, co-founder and CEO of Igloo, said: “We are excited to partner with TrueMoney to expand access to essential insurance products for millions of users. By integrating these offerings into the TrueMoney app, we are not only making insurance more accessible but also empowering individuals with the financial security they need in today’s uncertain times. This partnership is a testament to our commitment to innovation and inclusivity in the insurance industry.”
Committed to championing financial inclusion for the underserved through technology, TrueMoney offers users in the region the ability to send money and pay bills using their phones.
Customers can also purchase personal accident insurance for both juniors and seniors from Dhipaya with plans starting from 99 baht per month, as well as hospital benefit insurance from Tokio Marine that covers out-of-pocket expenses and provides financial relief during hospital stays from 899 baht per month via TrueMoney application.
Making insurance products more accessible
Igloo’s expertise in working with fintech leaders across the region enables it to rapidly develop, launch, and scale tailored insurance solutions. In Vietnam, Igloo has recently forged partnerships with Zalopay to offer popular products such as Phone Screen Protection.
The insurtech has also worked with GCash in the Philippines and DANA in Indonesia, offering unconventional products tailored to consumers’ lifestyles to make insurance easier to understand and purchase.
Tanyapong Thanmavaranukupt, co-president of Ascend Money Company Limited, commented: “This partnership with Igloo opens the opportunity for TrueMoney to offer a variety of insurance products to users on our application. The younger generation is also more keen to purchase insurance online, and this allows TrueMoney users to easily access insurance products.
“Igloo brings significant expertise in leveraging technology to create tailored insurance solutions, ensuring a seamless and efficient experience for TrueMoney users.”
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