Singapore-headquartered insurtech firm Igloo has launched three insurance products aimed at addressing emerging risks and the underserved needs of consumers and businesses in Southeast Asia.

The products are: Safe Dining Plan, designed to provide coverage for food poisoning in Indonesia; NegosyoCare, offering protection for micro, small and medium enterprises (MSMEs) in the Philippines; and Accidental Damage and Liquid Damage (ADLD), aimed at safeguarding mobile phones in Vietnam.

Earlier this year, the Indonesian government called for vigilance after a rise in the number of food poisoning cases among children. Igloo co-created Safe Dining Plan with the largest mobile wallet DANA, which has 135 million users nationwide, to offer coverage for food poisoning threats associated with Indonesians’ preference for online food delivery or eating out, estimated to be 22% and 43%, respectively. 

Underwritten by Victoria Insurance, customers can easily purchase this insurance product when they checkout with DANA QRIS during transactions. The protection period is up to three days after being purchased and stopped when the customer submits a claim of food poisoning, and it provides up to 500,000 rupiah (US$33) in coverage for foodborne illness for a premium of 300 rupiah.

Despite making up 99.6% of local firms in the Philippines, there’s still a need for MSMEs to find insurance plans that suit their operational and financial demands, the company says. It offers an affordable alternative with the release of NegosyoCare in collaboration with mobile wallet GCash and Malayan Insurance.

The plan’s premium starts at 160 Philippine pesos (US$3) for a month's coverage and goes up to 525 pesos for a year’s coverage. Protection against accidental death, total and permanent disability as a result of an accident, disablement or loss of limb as a result of an accident, medical reimbursement for accidents, cash aid in the event of a fire, and burglary and housebreaking are all included in the comprehensive package.

In Vietnam, the company’s ADLD plan for mobile phones, in partnership with e-commerce giant Sendo and electronic device retail chain Viettel, protects the digital lifestyle of consumers in the fastest-growing economy in Asia. The product, which is underwritten by PVI Insurance and BSH Insurance, has coverage for broken, wet or flooded devices as well as damage from fire.

Igloo’s co-founder and CEO Raunak Mehta says: “The introduction of our new products represents our commitment to providing affordable policies that are tailored to meet the evolving demands of consumers and enterprises.”