- Play crucial role in growing Grab’s business team
- Driving the commercial strategy, developing partnerships, generating new revenue
Insurtech Igloo has announced the appointment of Wilson Tseng as Chief Commercial Officer (CBO).
Reporting to Raunak Mehta, Co-Founder and CEO, Tseng will be responsible for driving Igloo’s business strategy, expanding partnerships with business partners and insurers, as well as identifying and developing new opportunities for growth and new revenue streams, the company said in a statement. .
He will work closely with Igloo’s sales teams in Malaysia, Vietnam, Philippines, Thailand and Indonesia to enhance the business value of existing partnerships.
Leveraging market trends and industry developments, he will work closely with Product, Engineering and Assurance teams to facilitate new initiatives, products and services across all markets and product lines , said Igloo.
Tseng has over 15 years of experience in various industries and has held several senior management positions in Europe and Asia.
With previous leadership positions at Grab and Alibaba, Tseng brings valuable business strategy, partnership expansion and technology experience to support Igloo’s ambitions, he said.
He has played a crucial role in growing Grab’s commercial team in the Southeast Asia region, working with multiple partners across Grab’s marketplaces, payments and advertising businesses, he said. he adds.
Mehta said the addition of Tseng to Igloo’s management team, coupled with funds raised during its Series B, is timely as the company prepares to further strengthen its position in Southeast Asia while by building an engineering center and recruiting talent in India.
“Tseng brings extensive business partnership expertise from a diverse career spanning startups, financial services and e-commerce.
“This strategic appointment will help us maximize value creation for our partners as we scale and integrate rigor and efficiency into our business operations,” Mehta said.
Tseng said it was an exciting time to join Igloo as it continues its ambitious growth. What attracted me to this position was the team’s desire to always do better, both for its partners and for its end customers.
“Igloo aims to capitalize on the underinsured SEA market by working closely with key partners using technology to bring the benefits of insurance protection in the most accessible, relevant and easy-to-adopt way. for our consumers.
“I look forward to leveraging my experience to further develop the Igloo course and look forward to launching new innovative initiatives alongside a fantastic team and partners,” said Tseng.
In 2021, Igloo said it had entered into more than 30 partnerships in Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines.
The company said its gross written premium has tripled over this period and is on track to meet its goal of facilitating 5% of general insurance premiums in the region over the next five years.
In 2021, Igloo’s insurance solutions helped underwrite more than 75 million policies in Southeast Asia, he said.
Earlier this month, Igloo raised US$19m (RM79.8m) in Series B funding led by global venture capital firm Cathay Innovation, with participation from ACA and other existing investors, including Openspace. This brings Igloo’s total fundraising to over US$36 million (RM151.3 million).