Singapore-based Igloo, an insurtech firm that builds software for insurers, said it plans to expand its Tech Solutions software-as-a-service business beyond Southeast Asia into the Middle East and North Africa.

The unit licenses tools for insurance distribution, product configuration, and claims to more than 10 insurers, banks, and platforms across Asia.

The company is targeting 5x growth for the unit over the next two years. Clients include Great Eastern in Indonesia, Tokio Marine in Thailand, HSBC in Hong Kong, and TrueMoney.

Igloo said its June 2026 acquisition of Thailand-based Eazy Digital expanded its Thailand operations. Its platform has facilitated more than 2.2 billion policies.

Igloo reported FY2025 revenue growth of 45.9% and targets adjusted earnings before interest, taxes, depreciation, and amortization breakeven by the end of 2026.

A 2022 report forecast 40.2% growth in embedded insurance in Africa and the Middle East to US$2.329 billion that year. Jordan has also moved to regulate digital insurance platforms.

🔗 Source: Igloo

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