In this episode, AIP founder Theresa Blissing visited full stack InsurTech Axinan in their Singapore office and talked to the founder, Wei Zhu, and the Chief Insurance Officer & General Counsel, Arijit Chakraborty. Openspace Ventures backed and Paypal incubated, Axinan is both a B2B and B2C InsurTech focusing on logistics as well as consumer electronics. The firm was founded in June 2016 by Wei Zhu who was previously CTO at Grab and an early engineer at Facebook.
Wei talks about InsurTech in Asia and the trend for full stack InsurTechs. (If you would like to learn more about full stack InsurTechs in Asia, read Rahul’s latest blog post). Wei and Arijit explain how Axinan collaborates with e-commerce platforms in order to enable a smooth online shopping experience across Southeast Asia. But the InsurTech is also offering smartphone coverage via their Igloo platform.
Axinan has developed not only a highly scalable digital platform but a new technique to underwrite smartphone protection which allows the company to provide coverage not only for new smartphones but also for older ones. Arijit gives insight into their partnership strategies and what role the reinsurance licences plays that the company has recently obtained in Labuan.
The company has just entered Thailand and the Philippines and is now working on entering Vietnam as well as launching a travel insurance solution.