Insurtech startup Igloo has acquired Singapore-headquartered insurtech company Eazy Digital for an undisclosed amount, according to an announcement on Tuesday.
Under the transaction, Eazy Digital’s client base and Thailand team will become part of Igloo. Eazy Digital founder Harprem Doowa will become country head of Igloo Thailand and head of Tech Solutions for Asia-Pacific, Igloo said in a statement.
The deal, Igloo added, expands its insurtech business and strengthens its presence in Thailand.
“Thailand is one of Southeast Asia’s most dynamic insurance markets, and we have been deliberate about building a meaningful footprint here,” said Igloo co-founder and CEO Raunak Mehta.
The acquisition is Igloo’s second major Thailand transaction in 12 months, following its 2025 joint venture with JMT Network Services, a unit of Jaymart Group, to build a digital insurer in the country.
Igloo said the deal supports its shift from a regional embedded insurance player into a full-stack insurance technology infrastructure provider for Southeast Asia.
Founded in 2022, Eazy Digital provides software that helps insurers and brokers digitise agent management, streamline operations and improve sales productivity. Its customers include Marsh Taiwan, Bangkok Insurance, Falcon Insurance, Gallagher, Chubb, and Tokio Marine Safety Insurance (Thailand).
Igloo operates in six Southeast Asian markets and has facilitated more than 1.6 billion cumulative policies. It processes over 100 million policies a month through partnerships with more than 100 commercial and insurer partners, including Chubb and MSIG.
Igloo’s top shareholders
Igloo (formerly Axinan) saw its losses deepen in 2024 despite robust revenue growth driven by its third-party administration (TPA) service business.
Regulatory filings show that the company’s net loss expanded 11% to $21.8 million in 2024, up from $19.66 million in 2023, according to financial statements filed by the parent company, Axinan, with the Accounting and Corporate Regulatory Authority (ACRA).
The company has raised more than $100 million from investors including Eurazeo, Openspace Ventures, Cathay Innovation, and BlueOrchard.
In January, Japanese insurance major Tokio Marine invested $5 million for a minority stake in Igloo, confirming DealStreetAsia’s report. The investment gives Tokio Marine a 1.65% stake in Igloo, formerly Axinan.
