In a significant expansion of its service offerings, TrueMoney has announced that users of its app can now purchase a diverse array of insurance products. This new initiative, powered by Igloo, includes critical illness coverage from ThaiVivat Insurance, personal accident insurance from Dhipaya Insurance, and hospital benefit insurance from Tokio Marine Insurance.
These insurance products are designed to meet various lifestyle needs and offer financial protection at competitive prices. For instance, critical illness insurance starts at a modest 70 baht per month, catering to the increasing demand for affordable health coverage in Southeast Asia.
Personal accident insurance from Dhipaya begins at 99 baht per month. Additionally, Tokio Marine’s hospital benefit insurance, which helps cover out-of-pocket expenses for hospital stays, will be available from September 2024, priced at 899 baht per month.
TrueMoney, renowned for its commitment to financial inclusion, already provides services such as mobile money transfers and bill payments. This collaboration with Igloo aims to enhance the accessibility of crucial insurance products, especially for underserved populations and those residing in remote areas.
Igloo’s extensive experience in partnering with fintech firms across the region, including Zalopay in Vietnam and GCash in the Philippines, has facilitated the swift development and scaling of these customized insurance solutions.
Igloo’s spokesperson expressed enthusiasm about the partnership: “We are thrilled to collaborate with TrueMoney to broaden access to essential insurance products for millions of users. By integrating these services into the TrueMoney app, we are making insurance more accessible and empowering individuals with the financial security they need in today’s unpredictable environment.”
TrueMoney also highlighted the benefits of the collaboration: “Partnering with Igloo enables us to offer a range of insurance products directly through our application. The younger generation is increasingly inclined towards online insurance purchases, and this partnership facilitates easy access to these products. Igloo’s expertise in technology-driven, tailored insurance solutions ensures a smooth and effective experience for TrueMoney users.”
