JULO Steps up Digital Loans with Embedded Device Protection Insuranceby Fintech News Indonesia December 21, 2023
JULO, an Indonesian fintech offering digital peer-to-peer lending, announced that it has launched ‘JULO Cares’, an embedded insurance coverage.
This new offering, backed by global general insurer Sompo, provides device protection for users availing of JULO’s digital credit services.
Throughout 2023, JULO has focused on launching new products aimed at supporting Indonesia’s underbanked and unbanked populations.
These initiatives include JULO Turbo, which reportedly delivers instant credit in five minutes, and JULO Education, which provides education financing across any school, any college and any online course in Indonesia.
Nimish Dwivedi, Chief Business Officer of JULO Group said,
“We aim to add a layer of insurance inclusion to financial inclusion. With JULO Cares, we provide a unique gadget protection cover to our valued users. This embedded insurance cover gets auto-activated as part of the transaction flow itself when customers are using JULO’s digital credit.
Once activated, this cover protects their existing smartphone against all forms of device damage, ranging from dropping their phone by accident to incidents of phone theft. With this protection, we aim to ensure that our valued customers never lose access to their JULO app.”
Adrianus Hitijahubessy, CEO and Co-founder of JULO said,
“JULO Cares offers unique and helpful benefits to our customers. This also includes an Accident Protection Cover, in partnership with the Indonesia Social Security Agency for Employment.
We are committed to continuously expanding our range of protection options under the JULO Cares platform.”