Indonesian insurance-technology start-up PasarPolis, which last year received Series-A funding from three leading unicorn start-ups from Indonesia – GOJEK, Tokopedia and Traveloka – is now expanding its successful business into Thailand and Vietnam.
The insurtech firm doing so by redefining insurance through technology on digital platforms to target clients in several sectors, including e-commerce, tourism, ride-hailing, online food delivery and courier service.
PasarPolis’s highlighted strengths include a user-friendly platform connecting consumers, business partners and insurers; three-minute claims with a digital document verification system; one-stop-service insurance services; and over 30 system engineers from India and Indonesia.
“Starting out in 2015 in Indonesia, PasarPolis has been proclaimed in both the B2C and B2B2C [business-to-business-to-consumer] markets. The company was funded by three Indonesian unicorn start-ups: ride-hailing, food delivery and courier company GOJEK; e-commerce firm Tokopedia; and travel booking start-up Traveloka.
“With the [Series A] funding, PasarPolis has a firm financial status and aims to grow its business in the Southeast Asian market by extending its business into Thailand and Vietnam in 2019,” founder and chief executive officer Cleosent Randing said.
He added that in Thailand and Vietnam, the company would focus on the B2B2C market.
To drive its business growth in Thailand, PasarPolis currently focuses on offering a variety of online insurance products to tourism clients, such as travel insurance with quick claims.
In case of delayed flights, clients can promptly file a claim on the online platform.
“Launched in Thailand in early 2019, PasarPolis offers a digital insurance platform to its ecosystem partners, who want to enhance their customer experience,” PasarPolis Thailand country manager Chancharas Chantarakarn said.