Fuse

Fuse, operating under the legal name PT Fuse Teknologi Indonesia, was established in 2017 by Andy Yeung and Ivan Sunito. The company has positioned itself as a significant insurtech player in Southeast Asia, beginning its journey in Indonesia before expanding into other markets. Andy Yeung, the CEO, brings a wealth of experience from the insurance industry, having held various senior positions. This background provided him with deep insights into the sector's challenges, particularly the inefficiencies in agent-based distribution and the vast untapped market for micro-insurance, which directly shaped Fuse's strategic direction. The company's growth trajectory includes a notable Series B funding round in 2021, which facilitated its expansion into Vietnam and Thailand.

The core of Fuse's operation is a technology platform that connects insurance companies with a diverse network of distribution partners. This model addresses the market by making insurance products more accessible and affordable. The company generates revenue primarily through a commission-based structure, earning a share from the premiums of policies sold through its platform by its agent and corporate partners. Its business strategy is threefold, targeting different segments of the market. The Business-to-Agent (B2A) model is facilitated by the FUSE Pro mobile application, which equips agents and brokers with tools to manage quotes, issue policies, and handle claims efficiently from over 30 insurance partners. This streamlines the sales process for independent insurance professionals.

For the direct-to-consumer market, Fuse partners with major e-commerce platforms like Tokopedia in a Business-to-Business-to-Consumer (B2B2C) model. Through these partnerships, it embeds small-ticket, micro-insurance products directly into the customer's purchasing journey, such as offering shipping insurance or gadget protection at the point of sale. This approach allows Fuse to tap into a large consumer base with minimal acquisition cost, offering protection for everyday needs and transactions. The platform currently processes a significant volume, issuing millions of policies on a monthly basis across its operational footprint, which includes over 400 employees and numerous branches throughout Indonesia, Vietnam, Thailand, and Malaysia.

Keywords: insurtech, insurance brokerage, agent platform, micro-insurance, embedded insurance, Southeast Asia, digital insurance, B2B2C, financial technology, insurance distribution