Cracked phone screen? Indonesian e-wallet DANA has insurance for that
Users can get coverage for as low as Rp500.
Indonesian e-wallet DANA has partnered with Singapore-headquartered insurtech Igloo to provide users with phone screen protection insurance.
With this partnership, DANA aims to offer its over 80 million users an affordable microinsurance solution through a digital channel to purchase mobile phone screen protection and make a claim, all in one app.
Underwritten by PT Jasa Asuransi Indonesia-Jasindo and distributed by PT Insco Multi Pratama, plans start from as low as Rp500 and cover up to a maximum of Rp200,000 for cracked phone screens on both new and used mobile phones. To activate the protection, users can navigate to DANA Siaga in the DANA app to select a plan that suits their lifestyle or select the add-on when completing their purchase of mobile recharge.
In the ‘Southeast Asia (SEA), the home for digital transformation’ report, Indonesia was said to have seen the strongest growth in the region–around 21 million which is equivalent to a 15% growth–with high smartphone ownership (98.2% in Jan 2021).
According to Vince Iswara, CEO and co-founder of DANA, the need for microinsurance is in high demand.
Based on the Financial Services Authority (OJK) data alone, the development of microinsurance as of June 2019 already has 22.1 million policyholders or participants. Therefore, we warmly welcome this partnership to continue to encourage the advancement of insurance in Indonesia and increase financial inclusion,” Iswara said.