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Showing posts with the label Indonesia insurtech startup expects market boost from COVID – Nikkei Asian Review

Indonesia insurtech startup expects market boost from COVID – Nikkei Asian Review

JAKARTA — COVID-19 has decimated many industries, but the insurance sector could be one of the few silver linings to come out of the pandemic, one Indonesian startup believes. “Awareness of insurance has increased quite substantially,” Cleosent Randing, founder and CEO of PasarPolis, an insurtech — technology related to insurance — startup based in Jakarta, said. Via platforms such as Gojek, the five-year-old company provides small ticket, affordable insurance products, which are underwritten by the larger insurance companies. One example of a PasarPolis product is the insurance consumers get when sending parcels via GoSend, Gojek’s logistics service. As a result of the increase in goods being bought online, Randing said that the company’s business had been helped by a significant increase in the logistics required to deliver these items. The CEO expects that the pandemic will help to boost sales of other types of insurance, be that health or life, in a country that has one of t...