Revolutionizing Fintech: JULO’s ‘JULO Cares’ Blends Digital Credit and Insurance in Indonesia

In a remarkable move that addresses the low insurance penetration rate in Indonesia, JULO, a leading Indonesian peer-to-peer financial technology company, has introduced JULO Cares. This innovative insurance coverage is embedded within their digital credit solution, offering ongoing device protection to users. JULO believes that by combining financial technology and insurance, they can provide a more inclusive and holistic financial solution to underbanked individuals in Indonesia.

Device Protection for Users

JULO Cares goes beyond traditional financial services by providing comprehensive device protection to users who avail of JULO’s digital credit. With the insurance cover automatically activated within the transaction flow, customers can enjoy peace of mind without any additional hassles. This unique feature differentiates JULO Cares from other insurance products in the market and enhances the value proposition for JULO’s digital credit users.

Low Insurance Penetration in Indonesia

Indonesia currently has a low general insurance penetration rate, standing at a mere 2.75%. This can be attributed to various factors, including a lack of insurance literacy and the affordability of insurance premiums. Many Indonesians are unaware of the benefits and importance of insurance, while others struggle to afford the premiums. This has led to a significant gap in insurance coverage, leaving many individuals vulnerable to financial risks.

Insurance Inclusion with JULO Cares

Recognizing the need for financial inclusion and insurance coverage, JULO aims to bridge the gap by embedding insurance within their digital credit solution. JULO Cares offers protection for smartphones against various forms of damage, such as accidental drops and phone theft. By providing insurance coverage that aligns with customers’ needs, JULO empowers individuals to protect their valuable devices without an additional financial burden.

Accident Protection Cover

In addition to device protection, JULO Cares also partners with the Indonesia Social Security Agency for Employment to offer Accident Protection Cover. This collaboration ensures that JULO’s customers receive comprehensive coverage, including financial support in case of accidents. By addressing not only device protection but also personal accidents, JULO Cares demonstrates its commitment to providing holistic insurance solutions that cater to the diverse needs of its customers.

Backed by Sompo

JULO Cares is proudly backed by Sompo, a global general insurer known for its successful track record in Indonesia. With Sompo’s expertise and credibility, users can rest assured that their claims will be handled efficiently and effectively. This partnership strengthens JULO Cares’ position as a reliable insurance solution that can be trusted by customers.

JULO’s Empowerment Products

JULO has consistently introduced products to empower underbanked individuals in Indonesia. From the popular JULO Turbo, a fast and accessible loan product, to JULO Education, which provides loans for education expenses, JULO has demonstrated its commitment to financial inclusion. With the addition of JULO Cares, JULO aims to provide its customers with comprehensive financial solutions that give them peace of mind and protect their interests.

JULO’s launch of JULO Cares marks a critical milestone in addressing the low insurance penetration rate in Indonesia. By embedding insurance within their digital credit solution, JULO is pushing the boundaries of financial technology and making insurance more accessible to underbanked individuals. JULO Cares offers comprehensive device protection and accident coverage, backed by the reputable insurer Sompo. Through innovative products like JULO Cares, JULO is not only fostering financial inclusion, but also promoting insurance literacy and affordability. With this integrated approach, JULO is paving the way for a more inclusive and secure financial landscape in Indonesia.

Explore more

Unlock Success with the Right CRM Model for Your Business

In today’s fast-paced business landscape, maintaining a loyal customer base is more challenging than ever, with countless tools and platforms vying for attention behind the scenes in marketing, sales, and customer service. Delivering consistent, personalized care to every client can feel like an uphill battle when juggling multiple systems and data points. This is where customer relationship management (CRM) steps

7 Steps to Smarter Email Marketing and Tech Stack Success

In a digital landscape where billions of emails flood inboxes daily, standing out is no small feat, and despite the rise of social media and instant messaging, email remains a powerhouse, delivering an average ROI of $42 for every dollar spent, according to recent industry studies. Yet, countless brands struggle to capture attention, with open rates stagnating and conversions slipping.

Why Is Employee Retention Key to Boosting Productivity?

In today’s cutthroat business landscape, a staggering reality looms over companies across the United States: losing an employee costs far more than just a vacant desk, and with turnover rates draining resources and a tightening labor market showing no signs of relief, businesses are grappling with an unseen crisis that threatens their bottom line. The hidden cost of replacing talent—often

How to Hire Your First Employee for Business Growth

Hiring the first employee represents a monumental shift for any small business owner, marking a transition from solo operations to building a team. Picture a solopreneur juggling endless tasks—client calls, invoicing, marketing, and product delivery—all while watching opportunities slip through the cracks due to a sheer lack of time. This scenario is all too common, with many entrepreneurs stretching themselves

Is Corporate Espionage the New HR Tech Battleground?

What happens when the very tools designed to simplify work turn into battlegrounds for corporate betrayal? In a stunning clash between two HR tech powerhouses, Rippling and Deel, a lawsuit alleging corporate espionage has unveiled a shadowy side of the industry. With accusations of data theft and employee poaching flying, this conflict has gripped the tech world, raising questions about