Regional insurtech firm Igloo has partnered with digital payments service provider Pine Labs. This marks the extension of Igloo’s regional footprint in Malaysia.
Pine Labs is currently used by over 246,000 merchants in 3,700 cities and towns across India and Malaysia. Its partnership with Igloo comes on the heels of its appointment of Amitabh Singh as the insurtech firm’s country manager in Malaysia.
Singh will be responsible for Igloo’s overall country operations across business development, partnerships, marketing and operations. With nearly two decades of experience in financial services, he has held several leadership roles across Southeast Asia.
Through the partnership, Pine Labs will offer shoppers hassle-free and easy mobile phone protection solutions under the IglooCare Program. Mobile Phone 360 and Phone Screen Protection are currently available on Pine Labs’ platform. The protection covers both repair and replacement of the gadget by up to 100 percent of the gadget retail price, offered through Igloo’s dedicated nationwide IglooCare repair and service network in Malaysia.
In addition, Igloo is expanding its team in Malaysia and making key hires across Business Development, Operations, Customer service & Sales management.
According to Singh, the partnership marks a significant milestone in Igloo’s expansion in Malaysia. “We are happy to partner with Pine Labs to offer our best-in-class IglooCare phone protection solutions. Igloo aims to work with more local partners to provide protection platform solutions that are easy to purchase, affordable, and directly impact consumers’ daily lives. These lifestyle-focused solutions allow consumers to experience minimal disruption and financial loss to their daily lives across multiple categories including Electronics & Durables, Health Benefits products, Lifestyle coverage and SME solutions, all of which are enabled through our technology platform,” he added.
“Pine Labs has been at the forefront of technology in the payments solutions space across India and Southeast Asia,” APAC for Pine Labs head of payment business Chayan Hazra said. “In Malaysia, we are expanding our footprint rapidly by entering into strategic alliances with leading banks and retail brands. We are very happy to be partnering with technology platform like Igloo to enable us to expand protection offerings to our merchants. At Pine Labs, we are always striving to get the best products and services for our merchant partners and we find Igloo provides us the best platform in terms of options and roll out flexibility.”
Igloo has established over 30 key partnerships in diverse industries to make protection products more accessible across the region. In July 2021, the insurtech company partnered with regional leading food delivery platform foodpanda Singapore to launch protection solutions for gig economy workers.
In September 2021, Igloo successfully launched partnerships with leading e-Wallet platforms in the Philippines GCash and DANA in Indonesia to provide online shopping protection (PH) and phone screen protection (ID) respectively. In November 2021, Igloo partnered its first digital health brand HD to provide health-related micro-insurance products via the HDmall healthcare marketplace platform in Thailand. The company also boasts several award wins this year, namely Most Innovative InsurTech Company, 2021 Inclusive Fintech 50 and Insurtech Initiative of the Year – Singapore.