No slowing down in InsurTech in Asia. Despite the ongoing pandemic we see new funding rounds every month. This time, Hong Kong-based InsurTech Ignatica secured US$7 million in a pre-series A. Listen to our episode with CEO Manuel San Miguel here.
In Malaysia, Bolttech continues its expansion across Asia and announced another partnership with Samsung. The device protection coverage is now available in 7 countries. Bundling insurance with smartphone offerings is a trend we are seeing across Asia. In Hong Kong, Avo Insurance has partnered with SmarTone to offer mobile plan fee reimbursement in case of unemployment or contraction of COVID-19.
Chinese InsurTech Waterdrop, the crowdfunding platform and a medical insurance marketplace backed by SwissRe and Tencent, files for a $100 million US IPO but faces pushback from Chinese regulators.