🇮🇩📈 Insurtech Rising. 🧾New E-commerce Tax Kicks In. 💡Southeast Asia Bets Big on AI.
Dear subscribers,
As Indonesia’s tech ecosystem braces for regulatory change, new growth stories are emerging. This week, local insurtech Bang Jamin secures fresh capital to reshape the insurance industry, while marketplaces prepare for the enforcement of a new digital tax—with industry bodies calling for a more adaptive rollout.
At the same time, the region’s AI momentum is accelerating. A new report reveals AI could drive US$950 billion in Southeast Asia’s GDP by 2030, with Indonesia leading in absolute contribution. From financial infrastructure to generative AI tools, the shift toward intelligent automation is no longer optional, it’s foundational.
Let’s unpack the key developments.
Best regards,
The DailySocial Team
🚨 What’s New
Indonesian insurtech startup Bang Jamin raised US$4 million in a pre-Series A round led by Braxton Capital Ventures and SBI, with participation from BNI Ventures, BRI Ventures, and Northstar Ventures. The company currently processes over 100,000 policies daily via partnerships with 30+ insurers. With its behavior-based and time-based insurance products, Bang Jamin is positioning itself as a key enabler of the country’s US$17 billion insurance market transformation. [Read More]
Bang Jamin’s founder team / Doc. Bang Jamin Indonesia’s Ministry of Finance has issued PMK No. 37/2025, mandating that digital marketplaces collect a 0.5% PPh 22 tax on seller transactions. The Indonesia E-Commerce Association (idEA) supports the policy but urges at least one year of transition time and better guidance for MSMEs. While sellers bear the tax, there’s concern that costs could shift to consumers. idEA emphasized the need for balanced implementation in line with the local digital ecosystem’s maturity. [Read More]
Indonesia’s Financial Services Authority (OJK) is scrutinizing peer-to-peer lending platform Akseleran after it failed to repay Rp178 billion to lenders. OJK is demanding stronger risk mitigation, improved underwriting standards, and is working with law enforcement to investigate borrowers allegedly absconding with funds. The regulator is also expanding monitoring to other troubled platforms, including KoinP2P. [Read More]
👏 What’s Exciting
Big banks double down on digital assets
Citigroup is developing its own stablecoin under the Citi Token Services umbrella, targeting tokenized deposits and crypto custody amid shifting US regulations like the GENIUS Act. Meanwhile, Standard Chartered is now the first major bank to offer spot trading for bitcoin and ether in the UK, with plans to expand into crypto derivatives for institutions.Starlink expands to Vietnam, pauses new users in Indonesia
Starlink will launch its satellite internet services in Vietnam by Q4 2025 after receiving the green light for a trial period through 2030. In contrast, the company has halted new user registrations in Indonesia due to capacity constraints. Existing customers remain unaffected, but new orders are placed on a waitlist.
🚀 What’s Next: AI to Add US$950B to Southeast Asia’s Economy
A new East Ventures White Paper estimates AI could contribute up to 13% of Southeast Asia’s GDP by 2030, equivalent to US$950 billion. Indonesia is set to be the largest contributor by value (US$366 billion or 12% of its national GDP), followed by Singapore, Malaysia, and Thailand.
AI’s impact is already visible across retail, healthcare, manufacturing, and agriculture, where it’s improving productivity and operational efficiency. Generative AI (GenAI) is accelerating adoption even further, helping businesses improve learning outcomes by up to 90%, cut customer service response times by 40%, and boost e-commerce conversions by 25%.
Despite global AI investments exceeding US$100 billion in 2024 (37% of total venture capital funding), Southeast Asia only accounted for around US$137 million. However, the region’s startups are focusing on practical downstream applications, such as customer support automation, content creation, and internal systems, where GenAI can thrive without heavy infrastructure or deep-tech talent.
As cost-effective AI tools become more accessible, GenAI is no longer just a buzzword, it’s becoming the central growth engine for startups and enterprises across Southeast Asia.