JULO, a leading Indonesian financial technology company, has successfully insured over 200,000 customers in just three months through its innovative JULO Protect Plus program. This first-in-market insurance coverage, embedded within the JULO virtual credit card solution, is part of the JULO Cares platform and offers comprehensive gadget protection to ensure continuous access to the JULO digital credit app.
In collaboration with Qoala, an Indonesian omnichannel insurtech company, and Sompo Insurance, a global general insurer with over 48 years of experience in Indonesia, JULO Protect Plus aims to empower Indonesians by providing easy policy activation and comprehensive protection against all forms of device damage, including accidental drops and theft. The in-app activation process within the JULO app ensures a seamless and hassle-free experience for customers.
“Along 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 cover,” said Nimish Dwivedi, Chief Business Officer of JULO Group.
The success of JULO Cares is evident from the positive feedback from its over two million users. Reza, a JULO user and driver in Jakarta, shared, “Frankly, I didn’t have any high expectations from this insurance service. However, the claim submission has been surprisingly hassle-free, and the team was responsive in answering all of my queries. I’m happy with the overall process!” Mochamad from Tangerang also praised the service, “With an end-to-end online claim process, JULO Cares was a lifesaver when my phone was damaged. It really helped me financially as it significantly reduced the repair cost. I’ve been using JULO for two years, and this feature surely enhances the experience of using the app.”
“For rolling out JULO Protect Plus, our engineering team worked with a fintech plus insurtech perspective along with Qoala and Sompo to develop a smooth and hassle-free in-app policy issuance and a convenient claim process,” said Manoj Awasthi, Chief Technology Officer of JULO.
Over the past seven years, JULO has consistently introduced product innovations to promote financial inclusion among Indonesians. The JULO virtual credit card bridges the gap left by low conventional credit card penetration, offering a credit limit for cash and non-cash transactions, including e-wallet top-ups, e-commerce payments, and utility bill payments. Additionally, JULO has launched JULO Education, a financing service supporting over 250,000 educational institutions, and JULO Health, which provides distinctive healthcare financing covering hospitals, clinics, dental care, pharmacies, and diagnostic centers.
