Igloo aims to grow its insurance software business fivefold over the next two years as it looks beyond Southeast Asia for new markets.
The Singapore-based insurtech plans to expand Igloo Tech Solutions into the Middle East and North Africa through organic growth and acquisitions.
Launched in June 2025, the software-as-a-service (SaaS) platform helps insurers, banks and other businesses develop, distribute and manage insurance products.
It now serves more than 10 clients across Asia, including MSIG Vietnam, Great Eastern Indonesia, Tokio Marine Thailand and HSBC Hong Kong.
Thai digital wallet TrueMoney has used the platform to build an insurance marketplace for its 27 million users, while Tokio Marine uses it to manage more than 1,500 agents in Thailand.
Igloo’s technology draws on data from over 2.2 billion insurance policies facilitated since 2019 and more than 50 million customer profiles.
The company uses artificial intelligence (AI) to automate insurance sales, product development and claims processing.
According to Igloo, its AI-powered product builder has reduced configuration time from two days to 20 minutes.
Its AI claims system adjudicated more than 50,000 cases in the first quarter of 2026 with a reported accuracy rate of 94 percent.
“Our platform and suite of solutions stand out because they have been battle-tested and continually enriched by the first-party data from the 110 million monthly transactions we now facilitate.
As one of the few insurance platform SaaS players who can offer distribution solutions and a comprehensive AI suite, we are well-positioned to expand Igloo Tech Solutions across Southeast Asia and MENA as more of the insurance value chain runs autonomously.”
said Raunak Mehta, Co-Founder and CEO of Igloo.
The plans follow Igloo’s acquisition of Eazy Digital in June 2026, which expanded its operations in Thailand. Eazy Digital founder Harprem Doowa now leads Igloo Tech Solutions across Asia-Pacific.
Igloo reported a 45.9 percent increase in revenue for FY2025 and is targeting adjusted EBITDA breakeven by the end of 2026.
Featured image: Edited by Fintech News Singapore, based on image by kasuntharaka93 via Magnific
