Igloo has implemented a rigorous new strategy to become AI-native by 2026, placing artificial intelligence at the center of its strategy and operations to address major challenges in the region’s insurance industry, including the Philippines.
This shift comes at a pivotal time, as insurers across Southeast Asia are exploring AI solutions to streamline operations and overcome long-standing pain points. Those that can harness the technology more effectively will be best positioned to accelerate growth, reach more consumers, and establish market leadership.
In the Philippines alone, the financial and insurance services sector stands to gain a potential increase of $300 billion in gross value added from AI adoption, according to a recent August 2025 study.
Igloo bucks the trend; it has already rolled out numerous AI solutions across the insurance value chain, and seen significant results from deployment.
“With our regional scale and decade’s experience working with insurers and affinity partners to make insurance simpler and more accessible, no other insurtech is better-placed to develop AI models that will solve the industry’s most pressing problems,” said Raunak Mehta, Co-Founder and CEO of Igloo. “These solutions, in turn, provide value to companies who are either saddled with legacy infrastructure or lack insurance expertise to reap the advantages of incorporating AI in their operations.”
AI solutions for each stage of the value chain
Igloo has, since earlier this year, already deployed AI solutions across Product Configuration and Management, Distribution Channels (consumers, sales intermediaries) and Back Office Operations (operations and claims teams). Some of these are:
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AI Product Recommendation provides suggestions based on consumers’ inquiries, profiles, and activity history—all within seconds, and AI Policy Terms that guide customers with natural, context-aware conversations.
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AI Claims Assistant enables instant claims initiation, cutting down time and friction in the customer journey.
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AI Sales Admin Chatbot helps sales agents generate personalized quotes, collect payments, and issue policies instantly via chat, reducing human dependency, allowing 24/7 service for customers.
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AI Claims Processing and Fraud Detection automate the bulk of reviews for claims teams, significantly reducing manual work and achieving near-perfect accuracy. Smart rules enable instant approval or rejection of straightforward claims, saving substantial operational time and resources.
Promising early results
These AI solutions are already delivering significant business impact, including increased direct-to-consumer sales. Igloo’s AI-powered recommendations have reduced customer drop-off rate by 24.7%, with 70% of customers choosing AI-recommended plans, and a 2.2x uptake in insurance add-ons.
In terms of operational efficiency, claims automation has shortened first response times from 1-3 days to just one minute. Adjudication accuracy has also improved to 98%, and manual claims work is reduced to 70%.
Igloo’s product and tech expertise in the insurance space is highly lauded; the insurtech boasts a 200% NDR and is looking to breakeven on EBITDA in 2026.
“Our high NDR demonstrates the positive and incremental value we are able to bring to our partners,” says Mehta. “Our charge towards becoming AI native will undoubtedly drive even more value to new and existing partners.”
