Igloo

Simple. Painless. Honest. Insurance for Southeast Asia.

Insurtech Infrastructure Growth Series B

Overview

Igloo is a full-stack insurtech platform for the Southeast Asian market, providing end-to-end insurance technology to carriers, e-commerce platforms, telcos, banks, and logistics partners across six countries: Singapore, Indonesia, Thailand, the Philippines, Vietnam, and Malaysia.

The company offers Turbo, an AI-powered core system that covers the full insurance value chain -- product configuration, distribution, underwriting, claims management, and fraud detection. Igloo also provides a suite of distribution platforms (agent, consumer, and affinity partner channels) and launched Igloo Tech Solutions in 2025 as a broader digital transformation offering for insurers and brands seeking to deploy new products and adopt AI capabilities at scale.

Founded in 2016 by Wei Zhu (ex-Grab CTO) as Axinan and later rebranded to Igloo, the company has facilitated over one billion policies through 100+ insurance and distribution partner relationships. As of 2024, Igloo reported USD 55.46M in revenue (up 49% year-over-year) and raised a total of USD 100M+ across multiple rounds, with investors including Eurazeo, Cathay Innovation, Tokio Marine, and OpenSpace Ventures. The company is tracking toward EBITDA breakeven in 2026.

Products & Services

Turbo Core System

AI-powered insurance value chain management platform enabling end-to-end insurance operations from product configuration through claims resolution.

Key Features

Product configuration and underwriting automation
Claims management with machine learning-based smart processing
Fraud detection via AI and real-time risk assessment
Know-Your-Customer (KYC) workflow automation
Dynamic pricing engine with real-time risk scoring

Target Users: Carriers, insurers seeking full-stack digital infrastructure

Igloo Tech Solutions

Digital transformation suite launched in June 2025 enabling insurers and brands to deploy new revenue streams, streamline operations, and adopt AI capabilities at scale.

Key Features

Revenue unlocking tools for insurers and distribution partners
AI capability adoption for underwriting and claims
Scalable growth infrastructure for regional expansion
Operational streamlining and process automation

Target Users: Insurance carriers, brands seeking embedded or white-label insurance products

Distribution Platforms

Set of channel-specific platforms for insurance sales and distribution across multiple partner types.

Key Features

Igloo Agent / Ignite: Agency management and sales platform for licensed agents
Igloo Consumer: Direct-to-consumer insurance marketplace
Igloo Partner: Affinity partner sales channel for telcos, e-commerce, and financial services partners
Partner-friendly APIs for platform integrations

Target Users: Insurance agents, affinity partners (telcos, e-commerce, banks, logistics)

At a Glance

Founded: 2016
Headquarters: Singapore
Employees: 51-200
Funding: Series B

Category & Focus

Category: Insurtech Infrastructure
Subcategories: Core administration platform distribution platform claims technology embedded insurance
Insurance Verticals: P&C Personal P&C Commercial Specialty/E&S
Target Customers: Carriers, Brokers, Agents/Agencies, Consumers