Source: Igloo
The JV will leverage Jaymart Group’s vast retail reach and Igloo’s market-leading insurance technology and capabilities to build Thailand’s first true digital insurer. In this, it will design and deliver digitally-differentiated insurance products and cutting-edge/industry-leading insurtech solutions tailored to businesses and consumers in Thailand.
Jaymart Group currently serves over 10 million Thai consumers through a diverse portfolio of successful businesses, including mobile phone and electronics distribution, distressed debt management, food and beverage (F&B), property management, and insurance services.
The JV plays a strategic role in accelerating Jaymart’s broader digital evolution. As the group continues to integrate technology across its businesses, the addition of embedded insurance enhances its value proposition, offering customers not just products and services, but protection tailored to their lifestyles.
“At Jaymart Group, our goal is to deliver exceptional customer experiences powered by technology,” said Mr. Ekachai Sukumvitaya, Deputy Chief Executive Officer, Jaymart Group Holdings. “The landmark joint-venture with Igloo unites best-in-class insurance tech and deep knowledge of Thai consumers. It will unlock new opportunities to integrate protection into our business lines, from device financing to lifestyle retail, while spearheading a new future of Thailand’s insurance sector.”
“This joint venture is a game-changer on many fronts,” said Raunak Mehta, CEO and Co-founder of Igloo. “Through our leading insurance technology and product expertise, we will be a transformative force for the Jaymart Group of businesses, accelerating their push towards digitilisation. A focus will be implementing AI in automation, efficiency and risk-management.“
“It will be, in essence, a blueprint for similar conglomerates running vast and varied businesses who want to bring forth a digital leap into providing insurance protection to today’s digital-savvy consumers.”
Read the full article: https://iglooinsure.com/press/jmt-network-igloo-joint-venture-thailand/
