Regional insurtech leader Igloo is implementing a rigorous new strategy to become “AI-native” by 2026, placing artificial intelligence at the center of its operations to tackle major industry challenges across Southeast Asia, including the Philippines.
The move positions AI at the core of the company’s business operations, strategy and value creation, moving beyond traditional AI usage. The shift comes as insurers in the region increasingly explore AI solutions to streamline operations and overcome pain points.
A recent August 2025 study suggested the financial and insurance services sector in the Philippines alone stands to gain a potential increase of $300 billion in gross value added from AI adoption.
Igloo has rolled out numerous AI solutions across the insurance value chain, deploying them for consumers, sales agents and claims teams, with plans to launch solutions for marketing and finance soon. Early results are showing significant business impact and improved operational efficiencies.
“With our regional scale and decade’s experience working with insurers and affinity partners to make insurance simpler and more accessible, no other insurtech is better-placed to develop AI models that will solve the industry’s most pressing problems,” said Igloo co-founder and chief executive Raunak Mehta.
“These solutions, in turn, provide value to companies who are either saddled with legacy infrastructure or lack insurance expertise to reap the advantages of incorporating AI in their operations,” he said.
The company’s AI solutions have already been deployed across product configuration and management, distribution channels and back office operations.
Igloo boasts a 200-percent net dollar retention (NDR) and is looking to break even on EBITDA in 2026. “Our high NDR demonstrates the positive and incremental value we are able to bring to our partners,” Mehta said.
