In September 2020, LeapFrog Investments invested in a USD54m Series B for PasarPolis, an Indonesia-based insurtech with operations in Southeast Asia.
With LeapFrog’s support, PasarPolis streamlined the customer experience, reduced claim turnaround times and integrated an Environmental & Social Management System to better monitor stakeholder grievances. PasarPolis also launched COVID-19 health and life insurance products across its partners’ platforms, including a health insurance app through which employees can make claims, find doctors and manage chronic diseases.
As of June 2021, the number of PasarPolis’ full-time employees has risen by 60% to 230 and its platform expanded to include 40+ digital distribution partners and 20+ insurance partners. To date, PasarPolis has provided insurance to 35 million people across Southeast Asia, with 90% of its customer base being insured for the first time.