Singaporean Insurtech Axinan To Provide Digital Insurance for Indonesian Unicorn Bukalapakby Fintech News Singapore August 28, 2019
Singapore-based insurtech firm Axinan announced today their partnership with leading Indonesian e-commerce unicorn Bukalapak during a press conference.
The collaboration between Axinan and Bukalapak will mark the first alliance between the two parties, amalgamating Axinan’s proprietary tech capabilities with Bukalapak’s rich understanding of its local eCommerce landscape. The two firms will be collaborating in the area of electronics and transit protection, with Sompo Insurance Indonesia (Sompo Indonesia) as the underwriter.
Through this partnership, there will be solutions for both merchants and customers on Bukalapak’s platform. Featuring a suite of fully-digital operations with dynamic pricing and claims management, merchants on Bukalapak’s platform can opt to protect their goods against the risk of total loss or damage during transit through igloo – Axinan’s consumer brand. For purchases of gadgets and electronics from Bukalapak, customers can buy protection against accidental damages.
Headquartered in Singapore, Axinan has operations in Australia, Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and development offices in China and Taiwan.
The insurtech startup recently secured General and Reinsurance license, issued by Labuan Financial Services Authority (Labuan FSA) a mid-shore jurisdiction in Malaysia.
Featured image credit: From left: Susanto Halim, head of product service development at Sompo Insurance Indonesia; Victor Lesmana, director of payment, fintech and virtual products at Bukalapak; Wei Zhu, CEO of Axinan; and Pradityo Anggoro Kusumo, country manager for Indonesia at Axinan, at a joint press conference in Jakarta | image via sgsme.sg