Insurtech firm Gangkhar bets on Singapore’s regulatory trust, regional reach, and AI talent for embedded protection growth in APAC

SINGAPORE: Insurtech firm Gangkhar has chosen Singapore as its “launchpad” to grow what it calls “invisible but indispensable” protection across Asia Pacific, citing the city-state’s regulatory trust, regional reach, and AI talent—the “DNA” it needs to scale embedded insurance in the region, the company’s founder and CEO Federico Spagnoli told The Independent Singapore.

Founded just this year, the US-based company, which bills itself as a “Shopify for insurance,” offers an AI-driven platform that helps businesses embed insurance into everyday transactions, like travel and logistics, without consumers needing to seek it out separately.

When asked what makes embedded insurance different from traditional insurance, Mr Spagnoli said, “Traditional insurance is bought reactively, often after a long, paper-driven process. Embedded insurance flips that model—protection is offered contextually, in real time, exactly where it’s needed.”

He said the rise of embedded insurance was fuelled by consumer frustration against traditional insurance models, the digital commerce and superapps boom, and consumer expectation that protection should be built in.

Mr Spagnoli pointed out this shift is already playing out on platforms like Grab, Shopee, and Atome.

Gangkhar recently launched in Singapore and is already working with regional players across e-commerce, Buy Now, Pay Later (BNPL), energy, and electronics—many of which are either headquartered in Singapore or serve ASEAN markets. Several partners are now in advanced stages of implementation using the company’s Sherpa+ platform.

“Singaporeans are digitally sophisticated yet remain underinsured in key moments—job loss, trip cancellations, and device protection,” Mr Spagnoli said, calling it a “striking” demand-supply mismatch that repeats across ASEAN.

When asked how embedded insurance could play a role in situations like the recent closure of Jetstar Asia—where flights were abruptly cancelled—Mr Spagnoli described it as a “textbook use case”. “Imagine disruption coverage that activates the moment a flight is cancelled—auto-triggered, real-time payout, no paperwork,” he said.

He added that the company is already working with platforms in Southeast Asia to launch these real-time, event-based protections across travel and logistics.

Looking ahead, Mr Spagnoli said embedded insurance could redefine how people think about protection.

“When your food delivery app offers 1-click accident cover, or your payment app auto-detects refund scenarios, you stop thinking ‘insurance’—you start thinking ‘peace of mind’. This is how protection becomes intuitive, relevant, and recurring,” he added. /TISG

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