Regional insurtech leader Igloo has significantly expanded its protection solutions across Southeast Asia, aiming to help communities withstand the increasing unpredictability of extreme weather and natural disasters. The move directly addresses the region’s mounting climate risks, including typhoons, floods, and erratic rainfall patterns, which threaten personal property and livelihoods.
The initiatives are focused on closing Southeast Asia’s substantial protection gap, where insurance penetration in ASEAN countries reportedly remains below 10 per cent. This gap is particularly urgent as the ASEAN Socio-Cultural Community Trend Report estimates the region loses $86.5billion annually to natural disasters.
Igloo is utilising embedded and data-driven solutions to make climate resilience protection accessible. The firm aims to bring these scalable solutions to multiple markets across the region, including Indonesia, as part of its ongoing mission.
Raunak Mehta, co-founder and CEO of Igloo, noted the market disparity. “We see markets in the region experiencing the same climate challenges, yet very few seek insurance to protect their livelihoods and property,” Mehta said. “Igloo comes in to fill that gap by delivering affordable, accessible, and timely protection that people can rely on when they need it most.”
Strengthening Protection in the Philippines
In the Philippines, Igloo has expanded its collaboration with fintech lender Skyro to launch a new personal accident insurance product, bundled with flood and fire protection.
This offering is now available to Skyro’s network of over 700,000 active loan customers nationwide, providing a vital safeguard as the country enters the high-risk end-of-year typhoon season. The plan, which can be purchased via the Skyro app for a minimum premium, covers property loss due to fire or typhoon-related flood, accidental death or disablement, and daily hospital income.
Mehta detailed the strategic value of embedding disaster protection into financial services. “By embedding disaster protection directly into financial services, we’re making coverage more accessible to millions of Filipinos ,” he said. “Our goal is to ensure that families don’t have to start from zero every time a typhoon strikes, but instead have the safety nets they need to recover faster and with greater confidence.”
Delivering Fast Relief in Vietnam
In Vietnam, Igloo’s Weather Index Insurance (WII) programme, implemented with MIC Insurance, demonstrated its impact following heavy rainfall earlier this year.
In An Giang province, where over 120 hectares of rice fields were submerged in May, 39 farming households received quick financial support. This assistance allowed them to restart their Summer–Autumn crops and avoid long-term losses from the disaster.
The WII programme leverages NASA satellite rainfall data to set clear, objective triggers for compensation. Once rainfall exceeds the contractual threshold, the system automatically triggers the payout, eliminating the long, uncertain wait times that typically slow down recovery. This fast, data-driven model provides both speed and transparency, offering farmers confidence to continue farming even as extreme weather becomes more frequent.
“This solution has the potential to benefit multiple markets across Southeast Asia, where farmers face similar climate challenges,” Mehta added. “We hope that more partners adopt Weather Index Insurance so we can scale its impact and provide stronger safety nets for vulnerable farming communities.”
Igloo’s initiatives, from urban households in Manila to rice farmers in the Mekong Delta, underscore its dedication to closing the protection gap by empowering individuals and communities to better withstand the financial shocks of climate change.
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