Source: European Investment Bank
LeapFrog has also invested in companies like PasarPolis and Goodlife Pharmacy to improve access to insurance and healthcare.
Nur Fajar earns an income as a rideshare driver on his motorbike in Jakarta, just like his father did. He was introduced to PasarPolis through a friend and bought life insurance for himself and his father.
When his father fell ill and passed away a few months later, Fajar was relieved to learn that he qualified for an insurance payment. Now, Fajar earns additional income as an insurance sales agent, encouraging others in his community to take out the simple policies.
PasarPolis is the first company in Indonesia to offer a range of insurance products – vehicle, home and travel – through agreements with mobile apps. By working closely with companies such as Gojek, the e-commerce company Tokopedia and the technology firm Xiaomi, PasarPolis offers insurance products that cover a range of needs.
Gojek is a ride-hailing app that operates across Southeast Asia, with over 2 million drivers in Indonesia alone, including Fajar. PasarPolis provides insurance to people who offer and take rides through Gojek.
PasarPolis grew fast and now serves more than 80 million people, issuing over a billion policies. Its chief executive officer, Cleosent Randing, credits part of this success to artificial intelligence, which has helped build efficient claims systems.
“Technology is the biggest enabler for us to really make insurance available for all, in terms of removing the friction,” Randing says, “in terms of creating products that are innovative or really making claims seamless.”
In East Africa, Goodlife Pharmacy is making healthcare easier and more reliable for around two million people each year. With 145 stores across Kenya and Uganda, the company runs East Africa’s largest chain of pharmacies. These stores offer pharmaceuticals, diagnostics services and doctor consultations. “What makes us stand out is our customer service,” says Amaan Khalfan, Goodlife’s chief executive officer. “I think that’s the critical driver.”
Lilian Kelly, a pharmacy technician at Goodlife, says that many people don’t understand their medication or how important it is to use it correctly. She ensures that people know how to take their medicine when they get home from a hospital or doctor’s visit.
Kelly gives support in person and online. She fields questions and follows up with clients through WhatsApp, Facebook and Instagram. “It’s actually exciting,” she says, “being able to change someone’s life in that way.”