Lifepal: Insurance marketplace based in Indonesia.

automate the claim process.
To keep its business model scalable, Lifepal runs on the recommendation engine that matches potential customers with policies and customer support representatives.
It considers data points like budget (based on Lifepal’s research, its customers usually spend about 3% to 5% of these yearly income on insurance), age, gender, family composition and when they have purchased insurance before.
“What we realize is that insurance is complicated and it’s expensive,” said Ficari.
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• Upcoming products include Insurance Wallet, that may include an application process with support in asserting an insurance plan – for instance, which garage or hospital a customer is going to – and an escalation in the function of a claim being rejected.
• Back in March we create our first Clubhouse session with founder-CEOs from three of our portfolio companies that experienced an enormous boost in growth over 2020 and talked to them about how they anticipate sustaining that growth this year.
• Lifepal may be the largest online marketplaces for insurance in Indonesia.
• In a statement, Ramneek Gupta, founder and managing partner of ProBatus Capital said that Lifepal’s “three-pronged approach” have the “potential to change just how How Indonesian Consumers Buy Insurance ”is changing.

In Indonesia, you can purchase Sharia insurance from a Sharia insurance provider, or a Life/General insurance company like Chubb that provides Sharia-based insurance products.

Upcoming products include Insurance Wallet, which will include a credit card applicatoin process with support in asserting an insurance plan – for example, which garage or hospital a customer should go to – and an escalation in the function of a claim being rejected.
Another product called Easy Claim automates the complaint process.

Latest Lifepal News

Located in Jakarta, Indonesia, PT Lifepal Technologies Indonesia was founded in 2019 by co-founders Nicolo Robba and Giacomo Ficari.
By 2021, the marketplace’s partners provide around 300 life, health, car, property, and travel insurance plans.
In August 2021, the company raised USD 9 million in Series A funding.
The business’s marketplace gathers insurance products from various businesses, such as health, vehicle, and life insurance, and analyzes them predicated on pricing along with other factors, allowing consumers to better understand, compare, and buy insurance products that meet their needs.
Operator of an online insurance marketplace intended to make financial protection accessible to everyone.
The company’s marketplace aggregates insurance products including health, car, and life insurance coverage from different companies and compares by price as well as other criteria, enabling users to understand, compare and buy insurance products that suit their needs.

Customer can compare the largest selection of insurance products in the market, save and claim.
Based on Lifepal’s data, about 60% of its health insurance and life insurance customers are buying coverage for the first time.
On the other hand, many automotive insurance shoppers had policies before, but their coverage expired and they decided to shop online instead of going to a realtor to have a new one.
“The same kind of experience a customer has today on a marketplace like Lazada — the convenience, all digital, fast delivery — we saw was lacking in insurance, that is still operating with offline, face-to-face agents like 20 to 30 years ago,” he said.
The marketplace’s partners currently offer about 300 policies forever, health, automotive, property and travel coverage.
Ficari, who also co-founded neobank Aspire, told TechCrunch

micro-policies, and its own marketplace is for customers to purchase directly from providers, not through agents.
Lifematters is a hospital & health care company offering home and healthcare services.
I give my consent for Voucherify to process my own data for marketing purposes.
Lifepal has been growing 40% MoM up to now and plans to keep this pattern until they reach market saturation.
As the acquisition is going well plus they are one of many top 3 providers in Indonesia, they’re considering launching referral and loyalty programs later on this season, using Voucherify, to spotlight customer retention and use brand advocates to market their business.
In a statement, Ramneek Gupta, founder and managing partner of ProBatus Capital said that Lifepal’s “three-pronged approach” have the “potential to change just how How Indonesian Consumers Buy Insurance ”is changing.
Lifepal’s investment in ProBatus enables it to work with Assurance IQ, the insurance distribution automation platform acquired by Prudential Financial two years ago.

Jakarta-based Lifepal wants to simplify the procedure for Indonesians with a marketplace that lets users compare policies from more than 50 providers, get help from licensed agents and file claims.
Ficari said Lifepal’s target customers overlap with the investment apps which are gaining traction in Indonesia’s growing middle income .
Many of these apps have educational content as their customers are usually first-time investing millennials, and Lifepal is going for a similar approach.
The content page called Lifepal Media targets articles for people dealing with plans and related topics such as for example personal financial planning.
The business says its website, including its blog, now has around 4 million monthly visitors, which forms a funnel for its marketplace.
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Pt Lifepal Technologies Indonesia

According to Lifepal data, around 60% of health and life insurance coverage customers are buying insurance for the first time.
On the other hand, many auto insurance buyers already had policies but their coverage had expired and they decided to shop online rather than going to an agent for a fresh one.
Industry partners currently offer around 300 policies for life, health, motor vehicle, property and travel insurance.
Ficari, who also co-founded Neobank Aspire, told TechCrunch that Lifepal was created to make comparing, buying, and trying to get insurance as easy as shopping on the internet.
The investment returns obtained tend to be divided between policyholders, both collectively and/or individually and with Sharia insurance companies, according to the ‘akad’.
This differs from conventional insurance companies, wherethe investment returns belong to the insurance firm, aside from insurance products comprising investment element.
Sharia insurance is overseen by Indonesia Sharia Supervisory Board to be sure that every product owned by each company meets the requirements under the Islamic Law.

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• This differs from conventional insurance companies, wherethe investment returns belong to the insurance firm, aside from insurance products consisting of investment element.
• It considers data points like budget , age, gender, family composition and if they have purchased insurance before.

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The Mosaic Score is an algorithm that measures the overall financial health insurance and market potential of private companies.
Lifepal takes a different approach since it doesn’t sell

Lifepal Investors (

To recap days gone by twenty episodes, we come up with a playlist of the best advice from the twenty technology leaders, investors, and founders we had on call.
Stay on the line and connected with us as we gear up for season two with more conversations with Southeast Asia’s founders and technology startup leaders!
Back March we setup our first Clubhouse session with founder-CEOs from three of our portfolio companies that experienced an enormous boost in growth over 2020 and talked to them about how they anticipate sustaining that growth this year.
We got a great deal of great insights and we’re sharing them with this episode.