Indonesia-based insurtech startup PasarPolis has appointed industry veteran Peter Van Zyl as its President.

Former Director and Chief Executive Officer of Allianz Indonesia, Van Zyl will bring his deep expertise and leadership to bear on the firm’s ongoing mission to democratize insurance, PasarPolis said in a statement on Wednesday.

Coming on the heels of PasarPolis achieving full-stack insurtech status, it said the appointment is significant.

This capability, enabled by a strategic partnership with Tap Insure, allows PasarPolis’ ecosystem to underwrite and distribute its own insurance products, it said.

It also said Van Zyl’s entrance is set to further consolidate this strategic evolution.

“PasarPolis welcomes Van Zyl to our team. His leadership acumen and experience will be essential as we continue to disrupt the insurance landscape as a full-stack insurtech,

“Our prior collaboration with Peter, through Allianz Indonesia, gives us confidence in our shared objectives,” said Cleosent Randing, Chief Executive Officer of PasarPolis.

Van Zyl’s impressive tenure in the industry includes over seven years as Director and Chief Executive Officer of Allianz Indonesia and a 15-year stint in various senior roles at AIG.

“I look forward to contributing to PasarPolis’s mission of making insurance accessible for everyone across market segments,

“In this digital age, we have an unprecedented opportunity to democratize insurance and bring it within everyone’s reach,” said Van Zyl.

PasarPolis said that Van Zyl, who plans to engage personally with the firm’s team members and agents, arrives at a pivotal time as the company is continuing to take their businesses in Thailand and Vietnam to the next level.

Founded in 2015, PasarPolis is a Southeast Asia’s insurance technology company that aims to democratize insurance by empowering all consumers to easily access affordable insurance products, and using innovative technology to provide smooth user experience from purchase to claims.

Since its launch, PasarPolis has issued over 1B policies and has raised over $59 million as the first insurtech company backed by three Indonesian Unicorns, including Gojek, Tokopedia, and Traveloka.

According to PasarPolis, nine in ten of PasarPolis’ 80 million customers had never purchased insurance policies before, while 40 percent are workers in the informal sector, including taxi drivers, couriers, and online micro, small, medium entrepreneurs (MSMEs).

Despite the pandemic, PasarPolis continues to expand insurance access to bridge the insurance gap challenge in Indonesia and Southeast Asia.

In the spirit of becoming the first digital insurance company, PasarPolis said will continually innovate more embedded insurance products by offering various types of insurance such as travel, home content, logistics, electronic, device health, life, auto/motor vehicle insurance and more.

Following the company’s positive consumer response in Indonesia, PasarPolis has now expanded to other Southeast Asian markets, including Vietnam and Thailand.

In October 2022, PasarPolis launched a new brand “TAP” along with sub-brand “TAP Insure” to represent a new business to consumer (B2C) distribution channel where consumers can access insurance products directly from the TAP Insure application that can be downloaded from Play Store and App Store.

PasarPolis becomes Indonesia’s first full-stack insurtech ecosystem with new strategic partnership