JMT, Igloo form joint venture for digital insurance

This marks Thailand’s first fully digital insurer.

JMT Network Services PCL and Axinan Thailand Co. Ltd. announced a joint venture which combines Jaymart Group’s retail network with insurtech Igloo – making Thailand’s first fully digital insurer.

The partnership aims to design and deliver insurance products tailored for businesses and consumers, leveraging cutting-edge technology to enhance accessibility and efficiency.  

Jaymart Group, which serves over 10 million Thai consumers across sectors including electronics distribution, debt management, and property services, sees this venture as a strategic step in its digital transformation. 

The joint venture will leverage AI to enhance automation, efficiency, and risk management, setting a precedent for other conglomerates looking to expand into digital insurance.  

The move aligns with Thailand’s growing demand for digital insurance, which has outpaced general insurance growth by 2 to 3 times in recent years.