PasarPolis becomes one of Indonesia’s first full-stack insurtech

This was achieved through a partnership with Tap Insurance.

Indonesia-based insurtech startup PasarPolis has become one of Indonesia’s first full-stack insurtech ecosystem, giving the company the ability to both distribute and underwrite its own digital insurance products.

This comes after PasarPolis secured a collaboration with Tap Insurance, which has received a full license from Indonesia’s Financial Authority (Otoritas Jasa Keuangan/OJK to operate as an insurance underwriter.

“The insurance gap and unequal insurance distribution continue to be major challenges in Indonesia – and PasarPolis is strongly committed to solving this. Our full-stack insurtech ecosystem allows us unparalleled flexibility in innovating insurance, making the customer experience 10x better by promising a frictionless, simpler, and more affordable process for all,” said Cleosent Randing, CEO and Founder of PasarPolis.

PasarPolis will use advanced technologies and data to streamline its underwriting and claims processes, making it easier and more cost-effective to create insurance products and provide a seamless experience for consumers. 

Ecosystem partners such as Tokopedia, Gojek, Traveloka, Xiaomi, and IKEA Indonesia will also have the opportunity to design custom insurance products using the full-stack ecosystem.

Founded in 2015, PasarPolis is Southeast Asia’s leading insurtech company headquartered in Indonesia. Being the industry Pioneer in the region, the company aims to democratize insurance by empowering all consumers to easily access affordable insurance products and using innovative technology to provide a smooth user experience from purchase to claims.