Insurtech brand Igloo, VN delivery firm bolster partnership

Singapore-based insurtech startup Igloo has strengthened its partnership with Vietnamese delivery firm AhaMove with the introduction of three new product offerings.

Raunak Mehta, Igloo’s chief commercial officer / Photo credit: Igloo

According to a statement, these offerings, which include hospital cash allowance, transit insurance, and motor insurance products, will be coming soon. These would cover over 120,000 riders and 2 million customers, Igloo said.

In May, the two firms worked together to provide a personal accident insurance product for AhaMove’s drivers.

The hospital cash allowance insurance plan is underwritten by UIC Insurance and lets AhaMove drivers receive an allowance for daily hospitalization due to the effects of Covid-19. Riders can also choose from the three new plans, which start from as low as 45,000 dong (almost US$2) a month, with an allowance of up to about US$44 a day.

Over the next three months, 3,000 drivers who purchase the hospital cash allowance plan, which is available on the AhaMove app, are eligible for a 60% discount.

Details of the transit insurance and motor insurance products are undisclosed. However, Igloo said it’s exploring more partnerships in Vietnam.

Igloo was founded in 2016 by Wei Zhu, who was previously the chief technology officer at Grab. The company recently partnered with direct-to-consumer healthcare marketplace HD to provide its products on its HDmall platform.

Currency converted from Vietnamese dong to US dollar: US$1 = 22,675.00 dong.