Regional insurtech Igloo is strengthening its embedded insurance offerings in the Philippines, reinforcing its role as a trusted technology partner enabling insurers, digital platforms, and financial institutions to deliver accessible, affordable protection at scale.
Despite rapid digital adoption, insurance penetration in the Philippines remains approximately 1.9%, leaving a significant portion of the population uninsured or underinsured, particularly among lower-income and informal segments. Embedded insurance, which integrates protection directly into digital platforms consumers already use, is emerging as a practical solution to close this protection gap.
The opportunity is expanding rapidly. Industry research projects the Asia-Pacific embedded finance market to reach approximately US$373 billion by 2030, driven by mobile-first ecosystems, platform commerce, and persistent financial access gaps. Embedded insurance is becoming a critical component of this shift, enabling protection to be delivered seamlessly at the point of need. Across Southeast Asia, insurtech infrastructure providers such as Igloo are playing a central role in scaling this new distribution model.
Since entering the Philippines market, Igloo has partnered with more than 40 digital platforms and launched over 55 insurance products tailored to local needs. These solutions span e-wallets, e-commerce platforms, fintech companies, ride-hailing services, consumer finance providers, and telecommunications firms — enabling insurers to reach customers through everyday digital interactions.
“Our goal at Igloo is to make insurance more accessible to those in need across Southeast Asia, and the Philippines is a market we continue to prioritize,” said Raunak Mehta, Co-Founder and CEO of Igloo. “The country is among the most digitally engaged markets in the region, and embedding relevant and affordable insurance products into platforms people already use helps broaden access to protection.”
Paving The Way With Notable Brands, Across Everyday Use Cases
Igloo’s track record of successful partnerships demonstrate how embedded insurance can address real-world protection needs across multiple sectors. Regionally, Igloo has facilitated more than 1.6 billion policies through its platform.
The company recently partnered with Angkas, the country’s largest motorcycle ride-hailing platform, to provide personal accident and medical insurance to more than 20,000 registered riders. For a minimum premium of PHP 0.52 per ride, riders and passengers receive personal accident coverage of up to PHP 650,000 and medical benefits of up to PHP 200,000.
Ahead of last year’s typhoon season, Igloo collaborated with fintech lender Skyro to introduce personal accident insurance with additional flood and fire coverage, reaching more than 700,000 active loan customers nationwide.
These initiatives complement Igloo’s broader ecosystem in the Philippines, including milestone collaborations with GCash, Shopee, Salmon, and Smart, and a recently signed Memorandum of Understanding with RCBC Bank, signaling continued expansion into banking and consumer finance distribution.
“This is only a glimpse of what embedded insurance can achieve,” Mehta added. “In 2026, we look forward to working with more banks and consumer finance providers to advance financial inclusion and expand access to protection.”
Strengthening Local Leadership to Accelerate Growth
To support its next phase of growth, Igloo recently appointed Ramjit Lahiri as Country Head of the Philippines. A seasoned financial services and insurance leader, Lahiri brings extensive experience in building partnerships, scaling distribution, and driving market expansion across the Philippine insurance and banking sectors. Lahiri was most recently CEO of Carmudi Philippines.
His appointment underscores Igloo’s long-term commitment to the country and strengthens its ability to deepen partnerships, expand embedded distribution, and deliver innovative protection solutions tailored to Filipino consumers.
Scaling Growth Through AI-Enabled Innovation
Underpinning Igloo’s embedded insurance expertise is its proprietary full-stack technology that enables agility, scalability, and innovation across the insurance value chain — from product design to distribution and claims.
This supports insurers in modernizing operations while enabling platform partners to offer protection without building insurance capabilities from scratch.
Currently processing over 80 million policies per month, Igloo’s tech stack has solved for both velocity and volume.
In 2026, Igloo is advancing its transformation into an AI-native insurtech, introducing intelligent capabilities designed to enhance customer experience, accelerate claims handling, strengthen fraud detection, and enable data-driven product personalization.
“As part of our journey to becoming AI-native this year, you will see us rolling out AI features central to improving the customer experience for Filipino consumers,” said Mehta. “Over the next two to three years, we expect rapid scale in the Philippines.”
Igloo’s AI roadmap is expected to enhance operational efficiency for insurers while enabling faster claims resolution and more relevant protection offerings for consumers.
With a growing partner network, robust technology infrastructure, and an AI-driven roadmap, Igloo is well positioned to accelerate embedded insurance adoption and expand access to protection across the Philippines.
