Otodiva.id – Regional insurtech company Igloo is actively supporting the electric vehicle transition in Indonesia by presenting a total loss insurance product for electric motorbike owners. The aim of launching this product is to increase consumer confidence in the use of electric vehicles, especially two wheels, thereby supporting the development of the domestic EV industry. This product is available on the Igloo.co.id site with prices starting from IDR 105,000 per year and is provided by Zurich Insurance.
Igloo's move is in line with Indonesia's ambition to become an electric vehicle producer in Southeast Asia, as emphasized by President Joko Widodo at the G7 Summit in Hiroshima. Abundant nickel reserves and a conducive investment climate in Indonesia support strategies to increase domestic production capacity and export of electric vehicles.
The Indonesian Electric Motorcycle Industry Association noted the increasing interest in electric motorbikes by noting 25.012 units in the first quarter 2024, up from 11.532 units in the previous year. This increase reflects industry and retail optimism towards electric vehicles as a mobility alternative desired by consumers.
Henry Mixson, Country Manager Igloo Indonesia, state, “With increasing awareness of electric vehicles and technological developments that support the efficiency and availability of charging stations, Demand for electric motorbikes is expected to continue to increase. Igloo launched electric motorbike insurance to provide peace of mind and confidence to our customers and help governments achieve sustainability goals.”
For consumers who are still considering between fossil fuel and electric vehicles, There are several points to consider. The advantages of electric vehicles include lower operating and maintenance costs, and the lack of mobile devices which can reduce repair costs. Besides that, Electric vehicles are more environmentally friendly due to minimal carbon emissions.
However, there are also counter considerations, such as the relatively expensive price of electric vehicle batteries and the selling value of used electric vehicles which tends to be low. Nevertheless, The ever-evolving technology is expected to reduce battery costs and make electric vehicles more modular.
It is important to note that purchasing an electric vehicle does not always include an insurance product. Therefore, Igloo provides complete protection for vehicles, including risks such as accidents, damage resulting from natural disasters, and third party legal responsibilities.
Henry Mixson closes, “Igloo continues to innovate to provide the best microinsurance products that meet customer needs in Indonesia. This protection is very important to secure finances from possible risks.” Thus, Igloo not only supports the adoption of electric vehicles in Indonesia but also ensures that vehicle owners are well protected.
