Insurtech Carrot to develop behaviour-based solution with Indonesian insurer

The collaboration will facilitate LGI's introduction of BBI products in Indonesia.

South Korean insurtech, Carrot General Insurance has partnered with Lippo General Insurance (LGI) Indonesia to develop a behaviour-based insurance (BBI) solution.

The collaboration aims to create a data platform encompassing comprehensive risk assessment for policyholders to eventually launch behaviour-based auto insurance products in Indonesia.

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A real-time mobility data analytics platform for the behaviour-based reward service (BBR) will be developed by Carrot to ensure the successful implementation and operation of BBI products in Indonesia.

Auto insurance in Indonesia has not been authorised, however, discussions led by the local government have recently been underway for mandatory policies, increasing the country’s growth potential in the market.