November continued to busy with InsurTech News coming out of China and India. November 11th is Single’s Day in China and Zhong An reported a jaw-dropping 1 billion CNY (USD 142 million) Gross Written Premium for this date alone. Waterdrop was awarded Innovator Startup of the year and Tencent acquired a 10% stake in Indian PolicyBazaar.
Some concerning news coming out of India. Reliance Health Insurance has been asked to stop trading after just one year of operations due to their solvency ratio falling as low as 63% on 30th September 2019. Rahul already posted about this development and what it could mean for InsurTech in India.
SingLife is again in the news with the official launch of its Insurance Savings Plan with Visa Card. We talked to Walter De Oude, CEO of SingLife, on the sidelines of the Singapore Fintech Festival. Stay tuned for the episode. And we are seeing more news coming from our favorite Japanese InsurTech, JustInCase. The Japanese startup has just announced a partnership with the first online based insurer in Japan, LifeNet. We talked to JustInCase founder and Ceo, Kazy Hata back in May. Find the episode here.