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Startups

Indonesia insurtech startup expects market boost from COVID

PasarPolis taps rising demand in Southeast Asia's most populous nation

PasarPolis, a five-year-old startup based in Jakarta, provides small ticket, affordable insurance products on platforms like Gojek, which are underwritten by the larger insurance companies. 

JAKARTA -- COVID-19 has decimated many industries, but the insurance sector could be one of the few silver linings to come out of the pandemic, one Indonesian startup believes.

"Awareness of insurance has increased quite substantially," Cleosent Randing, founder and CEO of PasarPolis, an insurtech -- technology related to insurance -- startup based in Jakarta, said. Via platforms such as Gojek, the five-year-old company provides small ticket, affordable insurance products, which are underwritten by the larger insurance companies. One example of a PasarPolis product is the insurance consumers get when sending parcels via GoSend, Gojek's logistics service.

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