Bang Jamin, an Indonesian insurtech startup, has successfully raised $4 million in a Pre-Series A funding round to enhance its digital insurance platform, aiming to address significant gaps in the country’s insurance market.

Target Information

Bang Jamin is an emerging insurtech platform based in Jakarta, Indonesia, that has recently secured $4 million in a Pre-Series A funding round. Founded in 2023, the platform addresses critical challenges in Indonesia's insurance sector, including lengthy integrations with insurers and complex claims processes. By digitizing policy distribution, Bang Jamin aims to create a more efficient insurance brokerage landscape, embedding its offerings within existing ecosystems and enhancing the customer experience.

Since its inception, Bang Jamin has made significant strides, issuing over 60 million insurance policies and forging partnerships with over 30 insurers. The company focuses on helping a variety of partners—including financial institutions, dealerships, and digital platforms—provide insurance products in a more integrated manner while simplifying underwriting and claims processing.

Industry Overview

The insurtech sector in Indonesia is on the rise, driven by increasing digital adoption and favorable regulatory conditions. The market, valued at approximately $36 billion, is characterized by double-digit annual growth