JAKARTA - Singapore-based insurtech startup Igloo has launched a coronavirus (COVID-19) insurance product in partnership with Ciputra Group's insurance arm Ciputra Life.
The product, called Proteksi COVID-19, provides additional protection for policyholders with premiums starting from Rp 24,000 and inpatient benefits starting from Rp 50,000 per day to up to 10 days with a 12-month insurance period. The product can be accessed on e-commerce platforms Bhinneka and Blibli.com.
"Indonesia has one of the lowest insurance penetration rates in the world, and the COVID-19 pandemic has rendered the Indonesian public even more vulnerable—especially during the Eid-ul-Fitr holiday season where the intensity of social interaction increases," Igloo Indonesia Country Manager Pradityo Anggoro Kusumo said in an official statement received by IDNFinancials.com, Friday (29/5).
"We hope the Proteksi COVID-19 health insurance can provide the Indonesian public with extra protection from COVID-19."
In April this year, Igloo raised US$8.2 million in a Series A+ funding round, bringing the startup's total funding to US$16 million. As of February 2020, Igloo served over 15 million policyholders and provided protection for 50 million e-commerce transactions. (MS)