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Indonesian digital insurer PasarPolis eyes Malaysia, Philippines

Tech company also pins hopes on vast home market demand, despite low penetration

Cleosent Randing, founder and CEO of digital insurer PasarPolis, has ambitions both at home and abroad. (Source photo by Nana Shibata and Getty Images)

JAKARTA -- Indonesian online insurance marketplace PasarPolis is aiming to bring its services to other Southeast Asian countries such as the Philippines and Malaysia, its CEO told Nikkei Asia, though also sees plenty of unrealized potential in its huge home market.

"Asia is poised to be ... the fastest growing insurance market," Cleosent Randing, also the founder of PasarPolis, said in a recent interview. "Southeast Asia is our core focus," Randing stressed, though while still expecting to "predominantly" operate in Indonesia.

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