Igloo's AI Travel Insurance Agent Lifts Conversion Rates 44% in Indonesia
Singapore-based insurtech firm Igloo launched Igi, an AI sales assistant that guides customers through the entire travel insurance purchase within a single conversation. Users who engaged with the tool converted at 44 percent higher rates than those using the website alone, the company said Tuesday.
Igi operates as an autonomous sales agent, not a support chatbot. It handles destination selection, plan comparison, personalized recommendations, payment, and policy issuance without human intervention. When questions require a person, it transfers customers to telesales via WhatsApp.
In a hybrid conversational and web interface, users converted at more than 1.7 times the rate at point of purchase, Igloo said.
Closing the Coverage Gap
Indonesia's insurance penetration sits at 2.7 percent, among the region's lowest. Travel insurance remains significantly underpenetrated despite strong recovery in outbound travel since the pandemic.
Raunak Mehta, Igloo's co-founder and CEO, said the assistant removes friction from the buying journey at any hour and completes transactions in minutes. In a market where most people have never bought insurance, that efficiency matters.
Expansion Plans
Igloo plans to extend Igi to WhatsApp and roll out the same conversational sales capability across motor and personal accident insurance.
The company operates across Indonesia, the Philippines, Thailand, Vietnam, and Malaysia. Its platform processes over 100 million policies per month and has facilitated 1.6 billion cumulative policies. Igloo has raised over $100 million from investors including Eurazeo, Openspace Ventures, Cathay Innovation, and BlueOrchard.
For insurance professionals, this represents a concrete case of AI for Insurance and AI Agents & Automation applied to sales workflows rather than back-office operations.
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