Axinan partners with Bukalapak to offer transit protection plans

Singapore-based Axinan has partnered with Indonesia’s Bukalapak to work on solutions for both merchants and customers on the ecommerce firm’s platform.

Photo credit: Axinan

The two firms will be collaborating in the area of electronics and transit protection, with Sompo Insurance Indonesia (Sompo Indonesia) as the underwriter, according to a statement.

Purchasers of gadgets and electronics will be able to buy protection against accidental damages. Merchants on Bukalapak’s platform can also choose to protect their goods from total loss or damage during transit through Igloo, Axinan’s consumer brand.

“With the booming ecommerce scene in Indonesia, there is an increasing gap we see arising due to the inherent risks associated with the ecommerce market – damage and loss during transit,” Wei Zhu said. According to a joint report by Google and Temasek, Indonesia’s online commerce market is expected to balloon from US$8 billion of spending in 2017 to US$65 billion by 2022.

In February, Axinan has partnered with insurance firm FWD Singapore to offer phone screen protection plans. It has also tied up with Sompo Indonesia in June to launch Igloo in the country.

Axinan received in 2018 series A funding in the high seven figures in US dollars as part of a round led by Singapore-based NSI Ventures.