Close Menu
  • Home
  • Ratings
  • Showbiz News
  • Horoscope
  • Tech Jungle
  • BRAND NEWS
  • Movies
  • Music
  • About
    • BE PART OF THE LIONHEARTV FAMILY!
    • THE PRIDE
    • ADVERTISE AT LIONHEARTV
What's Hot

Angelu De Leon tops Pasig council race, vows stronger public service

May 13, 2025

Ejay Falcon concedes congressional defeat, vows continued service as private citizen

May 13, 2025

GMA Network unveils two prime time blockbusters this June for its 75th anniversary

May 13, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram YouTube TikTok
LionhearTVLionhearTV
  • Home
  • Ratings
  • Showbiz News
  • Horoscope
  • Tech Jungle
  • BRAND NEWS
  • Movies
  • Music
  • About
    • BE PART OF THE LIONHEARTV FAMILY!
    • THE PRIDE
    • ADVERTISE AT LIONHEARTV
LionhearTVLionhearTV
Home»Press Release»Igloo on Driving Insurance Growth in the Philippines Through End-to-End Digitalization
Press Release

Igloo on Driving Insurance Growth in the Philippines Through End-to-End Digitalization

Lion's DenBy Lion's DenOctober 18, 2024No Comments4 Mins Read
Share
Facebook Twitter Reddit Pinterest Email

End-to-end digitalization of insurance is becoming a crucial strategy to boost insurance penetration in the Philippines, especially as recent data indicates a decline in coverage across the country. In 2023, insurance penetration in the Philippines sank to 1.6%, lower than the 1.73% recorded in 2022. This decline highlights the urgent need for innovative solutions to make insurance more accessible and appealing to a broader population.

Igloo, a regional insurtech, addresses low insurance penetration by leveraging technology and partnerships to streamline operations across the entire insurance value chain–from insurance and intermediaries to consumers. By digitalizing processes throughout the ecosystem, Igloo enables faster, more efficient services, seamlessly integrating insurance into everyday digital interactions such as e-commerce and travel bookings.

driveEmpowering Intermediaries with a Digital Platform

One key aspect of this digital transformation is the creation of digital platforms for intermediaries. Traditionally, insurance intermediaries rely on manual processes from onboard customers to settling claims, which can be time-consuming and prone to errors. Digital tools allow intermediaries to streamline the entire process from customer onboarding to claim settlement. These tools help manage customer information, assess needs, and complete transactions faster and more accurately. As a result, intermediaries can focus more on building relationships with current and potential clients, rather than being burdened by administrative tasks.

Ignite introduced Igloo, a digital platform that helps insurance intermediaries sell more efficiently. Key features include a user-friendly interface for faster browsing, a quick quote system for instant premium calculations, secure payment processing, and tools for team and data management to simplify reporting. It also tracks referral fees in real time, depositing them directly into bank accounts. Launched in Vietnam in 2022, Indonesia in 2023, and now in the Philippines, Igloo offers 42 products across 9 categories, including Travel, Pet, and Motor protection. It was awarded Mobile App of the Year – Vietnam at the Insurance Asia Awards 2024.

Facilitating a Seamless Digital Experience through Embedded Insurance

Igloo is transforming the insurance landscape by providing a seamless, end-to-end digital experience through embedded insurance. As an insurtech platform, it enables businesses to integrate insurance products into their platforms, facilitating seamless policy applications, purchase, and claims management. This reduces friction for both insurance providers and distributors, streamlining complex tasks such as underwriting, policy issuance, and claims processing, making the entire system more efficient and user-friendly.

Igloo partners with online platforms like Lazada and Shopee, as well as payment services like DANA in Indonesia and GCash in the Philippines, and retail chains like Circle K in Vietnam, to develop customized and embedded insurance products that integrate smoothly into digital experiences. In addition, telecom companies like Smart, consumer finance platforms such as Skyro and Salmon, and B2B MSME enabler Growsari also collaborate with Igloo in the Philippines to expand access to insurance across different sectors. This enables customers to purchase insurance directly through these platforms with minimal hassle. As a result, consumers can easily discover, evaluate, and buy insurance products in just a few clicks, making insurance a natural part of their everyday transactions. Consequently, securing coverage for travel, electronics, or e-commerce purchases becomes nearly invisible yet highly convenient.

This frictionless approach allows customers to opt-in with just a few clicks, which improves conversion rates. It also appeals to those who might not have initially considered insurance but recognize its value when offered conveniently.

Bringing Insurance Closer to Consumers, Digitally

Building on its success in embedded insurance and business-to-agent models, Igloo has soft-launched a direct-to-consumer platform in Indonesia, igloo.co.id, where users can explore insurance products like motorcycle, car, pet, and travel coverage from top insurers.

Introducing these platforms is essential for improving insurance accessibility and expanding market penetration. Igloo’s direct-to-consumer platform streamlines the insurance process, enabling users to easily compare products, understand coverage, and manage policies in one place. This approach not only resolves common transparency issues but also empowers consumers to make informed decisions. Digitalization, in this case, increases accessibility, boosts efficiency, and builds trust, ultimately driving higher adoption rates and fostering a more inclusive insurance ecosystem.




As the Philippines experiences a decline in insurance penetration, digitalization offers a clear solution to reverse this trend. By simplifying processes for intermediaries and customers alike, insurers can eliminate barriers to entry. The growing prevalence of embedded insurance and direct-to-consumer platforms also exposes consumers to more coverage options, increasing the likelihood of purchasing insurance and improving overall financial security.

Comments

Dana End-to-End Digitalization GCash Igloo Insurance Growth Lazada Shopee
Share. Facebook Twitter Pinterest LinkedIn Reddit Email
Previous ArticleCIMB Bank PH unveils new offering for OFWs
Next Article Darren Espanto dreams of joining International Fashion Week
Lion's Den
  • Website
  • Facebook
  • X (Twitter)
  • Instagram

LionhearTV has always believed in what the everyday reader can contribute, and has always been open to receiving input, help, or leads on stories. Readers are always encouraged to drop us their thoughts either by either by leaving a comment on a post, or contact us directly – email us at lionheartvnet@gmail.com.

Related Posts

Riot Games PH Reveals ROY Roadmap for League of Legends Wild Rift, Brings Back Wild Rounds: Pilipinas Open 2025 with a Boosted 1.5M Prize Pool

May 12, 2025

Mothers’ Day Made Sweeter with foodpanda

May 12, 2025

Tarlac Circuit Hill Sets the Stage for Thrilling Start to the 2025 F.C.C. Honda Pilipinas Dream Cup

May 12, 2025

Acer reaffirms commitment to education with inaugural Acer Edu Summit Asia Pacific 2025

May 12, 2025
Add A Comment

Comments are closed.

Find us on Facebook
Blogmeter.Top



Trending

‘Encantadia’ at 20: A Magical Legacy That Endures

May 2, 2025

PBB Celebrity Collab Edition: Instagram Follower Surge Reflects Reality Show’s Star-Making Power

April 28, 2025

Lion With A Heart returns to Pinagbayanan: Year 8 of giving back

April 26, 2025

‘Hello, Love, Again’ becomes SM Prime’s Biggest Film of 2024, boosts ABS-CBN’s Financial Recovery

April 24, 2025

The Unforgettable Forced Evictions That Shook the ‘Pinoy Big Brother’ House

April 22, 2025
Showbiz News

Angelu De Leon tops Pasig council race, vows stronger public service

May 13, 2025

Ejay Falcon concedes congressional defeat, vows continued service as private citizen

May 13, 2025

GMA Network unveils two prime time blockbusters this June for its 75th anniversary

May 13, 2025

Michael Sager and Emilio Daez—Why aren’t they among those being considered to return to the ‘PBB Celebrity Collab Edition’ house?

May 12, 2025

Donny Pangilinan urges Filipinos to vote: ‘Lahat ng voice natin matters’

May 12, 2025
Most Viewed

Angelu De Leon tops Pasig council race, vows stronger public service

May 13, 2025

Ejay Falcon concedes congressional defeat, vows continued service as private citizen

May 13, 2025

GMA Network unveils two prime time blockbusters this June for its 75th anniversary

May 13, 2025

Michael Sager and Emilio Daez—Why aren’t they among those being considered to return to the ‘PBB Celebrity Collab Edition’ house?

May 12, 2025

Donny Pangilinan urges Filipinos to vote: ‘Lahat ng voice natin matters’

May 12, 2025
eMVP Digital is an online empire that useful pieces of information and a resource for a daily dose of entertainment in all forms. It produces LionhearTV.net, Dailypedia.net, RAWR Awards, RAWRMag, DailyPIPOL, and Broken Lion. These platforms have a highly-engaged audience per month, which varies from ages and sexes.



Blogmeter.Top
© 2025 LionhearTV.net.
  • Home
  • Ratings
  • Showbiz News
  • Horoscope
  • Tech Jungle
  • BRAND NEWS
  • Movies
  • Music
  • About
    • BE PART OF THE LIONHEARTV FAMILY!
    • THE PRIDE
    • ADVERTISE AT LIONHEARTV

Type above and press Enter to search. Press Esc to cancel.

News Hub
New
Icon
Icon
×
Icon
New
Icon News Hub
Icon News Hub
News Hub Powered by iZooto
You have no new updates. Watch this space to get latest updates.
Unblock notifications to start receiving real time updates. Know More
Link copied to clipboard.