InsurTech

Singapore-headquartered insurtech firm Igloo has appointed Ramjit Lahiri as its Philippines Country Head, as the country’s insurance premiums reached PHP502.6 billion ($8.37 billion) in 2025 amid ongoing gaps in coverage and penetration.

Malaysia-founded PolicyStreet has secured RM84 million (US$21 million) in the first close of its Series C funding round, the insurtech firm said in a press release on Wednesday.

In the interview, Mehta also shared about Igloo's plans and strategy after the fundraise last year. He also shared his views about the insurance industry in Southeast Asia, the challenges Igloo faces expanding in the region and the company plans to address these challenges, among others.

From product push, the industry is moving to embed products by offering end-to-end distribution solutions and increasingly, ecosystem solutions. However, the promise is yet to become an everyday reality.

Microinsurance can grow to become a foundation for those gig workers to obtain financial protection against material and health risks such as failed delivery, damaged products during delivery, injuries, accidents, and illness, etc.

Insurance can play a pivotal role in providing risk protection but only can do this when fully taking advantage of the ubiquity of the platform economy - using real-time data, automated underwriting, and claims and deploying shorter product innovation cycles.

PasarPolis has big-name investors in its $54 million round.

Financial services app continues Southeast Asia growth.