PasarPolis vs Qoala
Qoala holds the stronger position because it owns its own agent and partner network, while PasarPolis depends on GoTo, Shopee, and Traveloka, who control the customer and can swap providers.
PasarPolis
Indonesian embedded-insurance platform selling policies through GoTo, Shopee, and Traveloka
Qoala
Indonesian insurtech selling policies through agents and embedded partner apps
Dimension by dimension
| Dimension | PasarPolis | Qoala |
|---|---|---|
| Staying power of core product | PasarPolis sells policies through GoTo, Shopee, and Traveloka, so its business depends on platforms it does not own. | Qoala runs its own network of agents and embedded partners across Southeast Asia, giving it more say over how it keeps and grows customers. |
| Exposure to AI | PasarPolis's product is also partly exposed to AI in the same way. | Qoala's product is partly exposed to AI absorbing distribution and claims work. |
| How easily a giant copies them | A larger player could just as easily build a similar embedded-insurance setup. | A larger player could build a similar agent and embedded-insurance network. |
| Pressure from rivals | PasarPolis faces pressure from bolttech and Qoala plus its own distribution partners, GoTo, Shopee, and Traveloka, which could switch to other insurance providers, so it faces heavier direct pressure than Qoala. | Qoala's main pressure comes from bolttech, a better-funded rival running the same agent and embedded-insurance model. |
| Distinctiveness of the business | PasarPolis's distribution runs almost entirely through a handful of large platform partners, GoTo, Shopee, and Traveloka, leaving it with less control over its own customer access. | Qoala's own agent network and direct partner relationships give it a distribution channel it controls outright. |
| Financial footing | PasarPolis's most recent raise was a $12M bridge round in 2023, following a $54M Series B in 2020 and a $5M investment from IFC in 2021. | Qoala raised a $47M Series C in 2024 and has taken in $130 to $132M across 8 rounds. |
Questions people ask
- Qoala vs PasarPolis, which has a stronger position?
- Qoala is better placed because it runs its own agent and embedded-partner network, giving it more control over its customers. PasarPolis sells mainly through GoTo, Shopee, and Traveloka, which own the customer relationship and could replace it.
- Which company has raised more funding, Qoala or PasarPolis?
- Qoala has raised more overall, with $130 to $132M across 8 rounds including a $47M Series C in 2024. PasarPolis's last disclosed raise was a smaller $12M bridge round in 2023, after a $54M Series B in 2020.
- Is Qoala or PasarPolis more exposed to AI?
- Both companies are rated as partly exposed to AI absorbing parts of their product. Neither has a clear advantage here since both run similar embedded-insurance distribution models.
- Could a bigger company copy Qoala or PasarPolis?
- Both are rated as possible to copy by a larger player, since embedded insurance distribution is not hard to replicate. Neither company has a clear edge on this point.
- Which company depends more on outside partners, Qoala or PasarPolis?
- PasarPolis depends more heavily on outside partners, since it sells almost entirely through GoTo, Shopee, and Traveloka. Qoala also uses partners but combines this with its own agent network, giving it more independence.
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