Igloo forms JV with JMT Network Services to transform insurtech in Thailand, eyes opportunities in the Philippines

New Joint Venture to Boost Insurtech in Thailand

JMT Network Services PCL and Axinan Thailand Co. Ltd. have announced an exciting new joint venture aimed at strengthening the insurtech landscape in Thailand. This partnership comes from JMT, a subsidiary of the well-established Jaymart Group, and Axinan Thailand, which operates under the broader Axinan Group, known for its leading insurtech brand, Igloo, out of Singapore.

Key Players in the Partnership

On one side, JMT Network Services brings its local expertise and infrastructure from the parent company, Jaymart Group, a prominent conglomerate with a wide array of business interests in Thailand. On the other hand, Axinan Thailand adds technological prowess and innovative insurance solutions, backed by its successful operations in the region through Igloo.

Focus Areas and Future Plans

The joint effort seems strategically positioned to not only enhance the insurtech offerings in Thailand but also set the stage for future expansion into other Southeast Asian markets, particularly the Philippines. This could provide valuable insights and competitive advantages in these rapidly growing markets.

The collaboration aims to implement advanced technology solutions, making insurance products more accessible and efficient for consumers. Both companies have expressed a commitment to revolutionizing insurance experiences for both businesses and individuals in Thailand, although specific product details and timelines have yet to be revealed.

Impact on the Insurtech Landscape

This partnership could be significant for the local insurance sector, potentially driving both growth and innovation. Given the increasing demand for digital insurance solutions in Southeast Asia, the joint venture might help meet this demand, ultimately benefiting consumers through enhanced service offerings.

As the partnership takes shape, the industry will be watching closely to see how this collaboration unfolds and what opportunities it might create, not just in Thailand, but across the region.

Original Source: https://www.manilatimes.net/2025/04/07/tmt-newswire/igloo-forms-jv-with-jmt-network-services-to-transform-insurtech-in-thailand-eyes-opportunities-in-the-philippines/2087663