Fintech
JULO, a leader in Indonesian fintech, accelerates insurance inclusion with financial inclusion through JULO Protect Plus
JAKARTA, Indonesia, May 28, 2024 /PRNewswire/ — GIULOa leading Indonesian financial technology company, has successfully provided insurance coverage to over 200,000 customers in the form of protection of existing gadgets in just three months. JULO Protect Plus is a first-to-market collaborative insurance coverage integrated into the core JULO virtual credit card solution. This benefit, launched as part of the JULO Cares platform, provides unique gadget protection coverage for customers’ smartphones to ensure they never lose access to their JULO digital credit app.
Integrated into the features, the JULO Protect Plus benefit is accessible to all users in Indonesia
Partnering with Qoala, the omnichannel Indonesian insurtech company providing insurance solutions through an integrated digital platform, and Sompo Insurance, a global general insurer with a track record of over 48 years in Indonesia, JULO Protect Plus is designed to empower Indonesians. It provides easy policy activation and protects customers’ existing smartphones from all forms of device damage, from accidental phone drops to incidents of phone theft. Simple in-app activation in the JULO app makes the entire process convenient and hassle-free for customers.
JULO Group Business Director, Nimish Dwivedi, declared, “Together with our strategic partners, we launched JULO Protect Plus to ensure that our valued customers never lose access to their JULO app. It is gratifying to see so many customers already benefiting from this unique coverage.“
The success of JULO Cares is further validated by testimonials from some of JULO’s more than two million valued users. Reza, JULO user and driver in Jakarta, commented: “Frankly, I didn’t have high expectations from this insurance service. However, filing the complaint was surprisingly easy and the related team was responsive in answering all my questions. I am satisfied with the overall process!” Another Tangerang user, Mochamad, also shared his experience, “With an end-to-end online application process, JULO Cares was a lifesaver when my phone was damaged. It really helped me financially as it significantly reduced repair costs. I have been using JULO for 2 years and this feature definitely improves the experience of using the app.”
“For the implementation of JULO Protect Plus, our engineering team worked with a fintech and insurtech perspective together with Qoala and Sompo to develop a simple and hassle-free in-app policy issuance and convenient application process.” She said Manoj Awasthi, Chief Technology Officer of JULO.
Having been in the fintech industry for 7 years, JULO has consistently launched a range of product innovations to promote financial inclusion among Indonesians, through the JULO Virtual Credit Card. This product fills the low penetration of conventional credit cards in the country by offering a credit limit that can be used for cash and non-cash transactions, including e-wallet top-up, e-commerce payment and payment of bills. JULO was also launched in the last year JULO Education, a financing service dedicated to supporting the advancement of education in Indonesia, covering over 250,000 formal and non-formal education institutions nationwide. Also, JULO Cheerswhich offers a distinctive feature of healthcare financing, covering all hospitals, clinics, dental care, pharmacies, laboratories and diagnostic centers.
About JULO
JULO is a leading Indonesian fintech company that is revolutionizing access to financial products for millions of emerging consumers in Indonesia. By facilitating better and convenient access to digital credit, financial empowerment has been JULO’s focus to improve the quality of life of every Indonesian. The company is one of the first to develop a data-driven digital credit underwriting and risk assessment platform to process consumer credit applications and determine creditworthiness using its mobile app.
Founded in 2016, JULO has expanded nationwide. JULO is headquartered in Jakarta and is backed by leading investors including Credit Saison, Skystar Capital, Saratoga Investama, East Ventures, Quona Capital, Central Capital Ventura, MDI Ventures, Gobi Partners and others. JULO has been officially licensed as a supplier with OJK circulation no. KEP-16/D.05/2020 on May 19, 2020. Since then, JULO has been enhanced with financing rounds to expand its services in providing affordable digital credit services across Indonesia.
JULO has been downloaded more than 10 million times and has facilitated access to credit for more than 2 million customers. Our commitment and contribution to society, the business ecosystem and the business landscape have been recognized with numerous awards and recognitions. JULO has won numerous awards namely; Winner of Indonesia Fintech Festival (2016), winner of UN Fintech Challenge (2018), winner of Inclusive Fintech 50 (2019) and gold winner of Marketing Excellence Awards Indonesia 2023 – Excellence in Brand Awareness. For more information visit https://www.julo.co.id
SOURCE JULO