Igloo (formerly Axinan) overview

Igloo (formerly Axinan) is a full-stack insurtech leveraging big data, real-time risk assessment and end-to-end automated claims management to create B2B2C insurance solutions for platform partners and insurers.

Headquartered in Singapore with a view to expand aggressively across Asia, they build high frequency/low premium products and distribute them digitally. Currently, Igloo partners with leading e-commerce platforms and online marketplaces, and leverages deep expertise in big data, actuarial risk management and machine learning to offer what they deem a seamless online experience.

As part of their mission, in February 2019, Igloo announced the launch of an on-demand digital insurance offering to meet the everyday lifestyles of today’s millennials, with PT Sompo Insurance Indonesia. As one of its first offerings, Igloo introduced customisable Phone Screen Protection (PSP) plans in partnership with FWD Singapore, where consumers are able to buy policies and make claims digitally via the Igloo mobile app. Within the first 6 months of launch, the Igloo app has been downloaded more than 90,000 times.

In September of the same year, Igloo announced it had secured a deal with e-commerce giant Bukalapak to offer protection for both merchants and consumers for goods purchased on the Bukalapak platform.

In October 2019 Igloo announced it was raising its Series A+ round. The round closed in April 2020, with the company securing $16m. It stated it planned to use these funds to expand into Vietnam whilst strengthening its position in Thailand and the Philippines, and launch new insurance solutions for health and pets. The company also formerly rebranded to Igloo.

In August 2020 the company partnered withthe UnionBank of the Philippines.

In February 2021 Igloo announced it had partnered with Philippines insurance broker Philpacific Insurance Brokers (Philinsure) to help digitise the latter's offerings.

The company also revealed that it had sold over 100m policies in Indonesia, the Philippines, Singapore, Thailand, Vietnam and Indonesia to date, and that it expects to close a fresh funding round in Q1 2021.

In August 2021 Igloo partnered with food delivery company foodpanda to provide its riders with protection. PandaCare will offer delivery drivers a personal, monthly accident cover that they can extend to family members. 

Map showing the location of Igloo (formerly Axinan)

Singapore, Singapore

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Key people

Hian Goh Board Member
Wei Zhu CEO
Jack Xia Chief Actuary