Fuse

What Fuse does

PT Fuse Digital Indonesia (operating as Fuse) is an Indonesian insurtech company founded in 2017, headquartered in Jakarta. The company operates a B2B2C insurance distribution platform that connects more than 60,000 insurance agents and brokers across Indonesia with over 30 insurance companies, enabling transaction-based distribution of over 15 insurance product categories including car, motor, health, life, property, travel, marine cargo, credit, liability, and construction-related coverage. As of 2020, Fuse reported Gross Written Premiums exceeding $50 million, making it Indonesia's largest insurtech by GWP, and is trusted by 10,000+ partners across Indonesia and Southeast Asia.

Fuse's technology stack centers on a cloud-based distribution platform combined with Fina (FUSE Intelligent Navigation Agent), an AI-powered WhatsApp assistant that enables partners to compare premiums, process transactions, and issue electronic policies entirely through WhatsApp conversations without requiring app downloads. The platform has expanded beyond pure distribution into AI-enabled insurance intelligence products: Watch delivers real-time peril intelligence across five macro regions and 22 sub-regional scopes by integrating live feeds from USGS, NASA FIRMS, and the National Weather Service; Mark provides AI-powered submission scoring against 50+ live data sources using a five-stage evaluation framework; and the Agriculture and Contractors/Construction verticals extend the platform into domain-specific insurance intelligence for brokers and underwriters.

Fuse operates through a transaction-based commission revenue model, earning fees from insurance placements executed through its platform; all placements are legally brokered by its partner PT Pialang Asuransi Indotekno, a registered insurance broker licensed by Otoritas Jasa Keuangan. Distribution combines a self-serve partner model (any agent can sign up without upfront investment and earn commissions), enterprise channel partnerships with major Indonesian players (Tokopedia, Grab, TikTok, Maybank, BNI Multifinance, Telkomsel, Kredivo), and direct WhatsApp-based consumer transactions via Fina. Fuse has raised approximately $70 million across Series B tranches in 2021 from GGV Capital, Hedosophia, eWTP (Alibaba-backed), CE Innovation Capital, Saratoga, Emtek, and other Southeast Asian investors.

Name

Fuse

Legal name

PT Fuse Digital Indonesia

Website

https://fuse.co.id

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Fuse is an Indonesian insurtech platform connecting 60,000+ agents and brokers with 30+ insurance companies to distribute over 15 insurance product categories via AI-powered WhatsApp assistant and AI-driven insurance intelligence products.

Ownership category

akta.pro rank

Product category

Insurance Distribution Platform

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Insurance distribution platform
• Digital insurance marketplace
• WhatsApp insurance assistant
• AI insurance scoring
• Insurance broker tools

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel

Revenue model

1. Insurance Commission: Partners earn commission (Pendapatan) from successful insurance product sales to customers. Revenue is divided into Base Revenue and Additional Revenue with terms determined by Fuse. Partners must complete registration and verification to qualify for revenue payouts.
2. Premium Processing: Fuse facilitates premium payment collection from customers through the platform, processing transactions between partners, customers, and insurance companies.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Fuse operates a cloud-based insurance distribution platform that connects 30+ insurance companies with a network of 60,000+ independent insurance agents and brokers across Indonesia and Southeast Asia. Partners can compare policies, process premiums, and issue electronic policies through the Fuse Pro web platform and Fina, a WhatsApp-based AI assistant. The platform distributes multiple insurance lines including car, motor, property, travel, health, life, marine cargo, liability, credit, and personal accident coverage on a commission-based model.

Product overview

Fuse operates as an integrated insurance distribution ecosystem consisting of the Fuse Pro platform (all-in-one financial product distribution), Fina (WhatsApp-based AI chatbot for auto insurance transactions), and specialized AI products (Watch for peril intelligence, Mark for submission scoring, plus industry verticals). The platform distributes over 15 types of insurance products including auto, motor, property, travel, marine cargo, health, life, micro-insurance, liability, credit, and construction-related coverage through a network of partners and insurance company partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• Fina: FUSE Intelligent Navigation Agent - AI-powered WhatsApp assistant that helps partners process car insurance transactions through WhatsApp, available 24/7

Products and services

• Fina (FUSE Intelligent Navigation Agent) AI-powered virtual assistant accessed via WhatsApp that helps partners process car insurance transactions including premium comparisons, payment processing, policy issuance, and e-police delivery. Available 24/7.
• Fuse Pro

Quantifiable outcome

• Over $50 million in Gross Written Premiums in 2020, making Fuse Indonesia's largest insurtech
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core.

• 30+ Insurance CompaniescoreStrategic or Co-development Partner · 1 January 2021Fuse partners with more than 30 insurance companies to offer diverse insurance products through its distribution platform. Partners include major Indonesian insurers.
• PT Pialang Asuransi IndoteknocoreStrategic or Co-development PartnerOfficial insurance broker partner registered with Otoritas Jasa Keuangan (Financial Services Authority). All insurance placements are executed through this partner company.
• TokopediacoreChannel Partner/ Reseller/ DistributorIndonesian e-commerce giant distributes insurance products through Fuse platform to its merchant and consumer base.
• GrabcoreChannel Partner/ Reseller/ DistributorSoutheast Asian super-app partner offering insurance products through Fuse to drivers and consumers.
• MaybankcoreChannel Partner/ Reseller/ DistributorMajor Malaysian banking group operating in Indonesia distributes insurance products through Fuse platform.
• KredivocoreChannel Partner/ Reseller/ DistributorIndonesian fintech credit platform integrates insurance products for its customer base through Fuse.
• TelkomselcoreChannel Partner/ Reseller/ DistributorIndonesia's largest telecommunications company partners with Fuse for insurance distribution to its subscriber base.

Scale indicators6 records

Recent moves6 records

Expansion highlights8 records

Emerging players

• Coverfox (by Ageas Federal Life Insurance JV): Online insurance aggregator in India distributing motor, health and life products. Strategically adjacent to Fuse as a multi-carrier digital broker, though India-focused and with a more consumer/policyholder-facing product surface than Fuse's agent-centric model.
• Acko General Insurance: India-based digital-first insurer and insurance distributor with embedded partnerships across mobility, e-commerce and lending. Comparable to Fuse in combining embedded distribution with proprietary underwriting, though operating as both carrier and distributor.
• Igloo (formerly known as Axinan): Singapore-headquartered insurtech providing embedded insurance infrastructure across Southeast Asia via APIs and partnerships. Comparable to Fuse on regional embedded insurance ambition, with greater geographic breadth but no equivalent agent network.

Broad incumbents

• Allianz Indonesia (Allianz Life / Allianz Utama): Established multi-line insurer with proprietary bancassurance and agent channels in Indonesia. Comparable as a counterparty on Fuse's platform and as a broad incumbent whose direct digital investments could pressure Fuse's distribution layer.
• AXA Indonesia: Major multi-line insurer operating agency, broker and bancassurance distribution across Indonesia. Relevant as a carrier partner and incumbent exploring digital/D2C channels that compete with Fuse's agent-network value proposition.

Direct peers

• PolicyBazaar (PB Fintech): India's largest online insurance aggregator and broker for life, health, motor and travel lines. Closest analog globally to Fuse's multi-carrier distribution model, though serving a different geography and at significantly larger scale.
• Lifepal: Indonesian insurance aggregator and broker marketplace comparing life and general insurance products. Comparable to Fuse on multi-carrier brokerage, but more consumer-facing and less agent-network oriented.
• PasarPolis: Indonesian insurtech distributing micro and retail insurance products via digital channels and partners. Direct competitor to Fuse in Indonesia, focused on embedded insurance and API distribution rather than agent networks.

Regional players

• Grab Financial Group (Grab Insurance): Insurance arm of SEA super-app Grab distributing embedded policies to drivers, merchants and consumers. Both a Fuse enterprise partner and a potential build-vs-buy competitor for embedded insurance distribution across the region.
• GoTo Financial / Tokopedia Insurance: Financial services arm of GoTo Group covering insurance, lending and payments for Indonesian merchants and consumers. A Fuse enterprise partner with the scale to internalize insurance distribution, making it both a customer and a long-term competitive threat.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fuseindo
• Facebookfacebook.com/fuseindo
• LinkedInlinkedin.com/company/fuse-group-indo

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fuse