Igloo plans Middle East and North Africa expansion, targets fivefold software growth
The Singapore insurtech is pursuing acquisitions and organic expansion, with adjusted EBITDA breakeven targeted for the end of 2026.
Singapore insurtech Igloo has set a goal of growing its insurance software business fivefold within two years. Its expansion strategy includes taking Igloo Tech Solutions into markets in North Africa and the Middle East, using acquisitions alongside organic growth.
The expansion follows its purchase of Eazy Digital in June 2026, which increased Igloo’s presence in Thailand. Harprem Doowa, who founded Eazy Digital, now heads the Asia-Pacific business of Igloo Tech Solutions.
Igloo introduced the software-as-a-service platform in June 2025 to support the development, distribution and management of insurance products. Its Asian client base exceeds 10 businesses and includes MSIG Vietnam, Great Eastern Indonesia, Tokio Marine Thailand and HSBC Hong Kong.
TrueMoney, a Thai digital wallet, used the technology for an insurance marketplace catering to 27 million users. In Thailand, Tokio Marine also uses the platform to manage an agent network numbering more than 1,500.
Igloo said its artificial intelligence product builder shortened configuration work to 20 minutes, compared with two days previously. The company reported that its AI claims technology adjudicated over 50,000 cases during 2026’s first quarter, achieving 94 per cent accuracy.
For FY2025, Igloo reported revenue growth of 45.9 per cent. The company aims to break even on an adjusted EBITDA basis by the end of 2026.
