We are in the second quarter of 2021 with more exciting InsurTech news. ZA Tech has announced the opening of its Asia Fintech Center (AFC) in Singapore. The Hong Kong-based company said the AFC is dedicated to exploring financial services innovation and helping industry partners in the region to build new products that will accelerate their digital ambitions. ZA Tech has partnered in the past with ecosystems Grab and OVO to build new products and financial services in Southeast Asia. Grab also made news this month by announcing their planned IPO in the US.
In India, PolicyBazaar is looking to go public as early as May. However, the dates have not been confirmed yet. India remains a hot market for InsurTech. Onsurity and Nova Benefits, two startups operating in the employee benefit and healthcare space for SMEs in India, have raised funding. Small, family-run businesses in India are often struggling to find affordable healthcare for their employees. Both, Onsurity and Nova Benefits, are trying to make healthcare more accessible to those markets. Listen to our episode with the co-founders of Onsurity here.
In Hong Kong, OneDegree is celebrating it’s first anniversary of being a virtual general insurer. The InsurTech acquired more than 50K paid users and became a multi-line digital insurer, launching 3 protection products (pet, e-commerce, home fire). Listen to our episode with co-founder Alex Leung here.