Singapore-based insurtech firm Axinan has partnered with Indonesian e-commerce firm Bukalapak to provide cover for electronics and the transport of goods.
Sompo Insurance Indonesia will be the underwriter of the insurance policies.
According to a statement by Axinan, this is the first alliance between the two parties, which will bring together its proprietary technology capabilities and Bukalapak’s understanding of its local e-commerce landscape.
By digitally integrating insurance pricing and claims management into the e-commerce platform, merchants on Bukalapak can choose to purchase cover for the risk of total loss or damage during transit through igloo – Axinan’s consumer brand. Meanwhile, customers can obtain add-on insurance against accidental damage for gadgets and electronics purchased from Bukalapak.
“With the booming e-commerce scene in Indonesia, there is an increasing gap we see arising due to the inherent risks associated with the e-commerce market – damage and loss during transit,” said Wei Zhu, founder and CEO of Axinan. “We are actively seeking to address these risks by providing products in collaboration with our insurance partners. The objective is to make these products easy, accessible and available to those who need it the most. With this collaboration with Bukalapak, we are able to leverage their extensive local network of customers and thereby provide our solutions to a wider audience.”
“We are thrilled to partner with Axinan to provide our customers with a shopping experience with an ease of mind,” added Victor Lesmana, director of payment, fintech, and virtual products at Bukalapak. “Moreover, Axinan’s fully digital claims will allow us to provide our customers with a seamless, secure, and convenient shopping experience, which is in line with our mission anchored on technological innovations created to improve the lives of users.”
