Singaporean insurtech firm, Axinan and Indonesian eCommerce company Bukalapak recently announced a partnership to provide insurance solutions for users of Bukalapak’s eCommerce platform. The partnership will provide protections for both merchants and customers. Consumers buying electronics or gadgets on the platform can insure their goods against accidental damages to products on Bukalapak’s platform and choose to protect their products against total loss or damage during transit through Axinan’s consumer brand, Igloo.
With Sompo Insurance Indonesia as the underwriter, the two companies will provide a full range of solutions with dynamic pricing and claims management. With the eCommerce industry in Indonesia growing exponentially, risks associated with the market have left a protection gap, according to Axinan’s founder and CEO Wei Zhu.
The alliance will combine Axinan’s tech abilities and established multinational presence including Australia, Hong Kong, Indonesia, Malaysia, The Philippines, Singapore and Thailand with Bukalapak’s deep understanding of the Indonesian ecommerce landscape.
(Source: Verdict.co.uk; Axinan)