Another busy month in InsurTech in Asia. Swiss Re and Chinese tech giant Baidu are teaming up to help advance autonomous driving. Autonomous vehicles will disrupt the motor insurance market and early partnerships might be the way to go.
In Hong Kong, the Insurance Authority (IA) is exploring possibilities for an Open API Framework to facilitate data sharing and enable greater collaboration in the industry. And Hong Kong-based ZA Tech not only announced a new JV with travel and leisure booking platform Klook, but that it has achieved unicorn status. The company raised USD230mm+ in Series A funding from AIA, Chow Tai Fook, and Zhong An Technology.
In Thailand, InsurTech Igloo has partnered with D2C healthcare marketplace HD and will offer health insurance products underwritten by Muang Thai Insurance (MTI) to the 6 million users on the HDmall platform. And Thai telco dtac launched insurance aggregator dtac dSurance on the dtac app in partnership with bolttech. The Asia InsurTech Podcast just recorded with bolttech CEO Rob Schimek. Stay tuned for the episode.
In Malaysia, Tune Protect has announced a partnership with Indonesian InsurTech Qoala and will be offering motor insurance via their online insurance marketplace. We had both companies on the show before. Listen to the episode with Rohit Nambiar, CEO of Tune Protect and Harshet Lunani, founder and CEO of Qoala.
If you are interested in the Indian InsurTech and digital insurance space, join us for the TDI Connect India event on December 16th. TDI will be launching the first digital insurance community in India and the AIP team will be there to connect with the community. Join here: https://bit.ly/3o4YS0a
And last but not least, if you are looking for inspiration for a new book to read over the upcoming holidays, the AIP News Roundup Team will be reading: The Age of AI: And Our Human Future by Henry A. Kissinger, Eric Schmidt, and Daniel Huttenlocher.
Other companies mentioned in this episode: Lemonade, FWD
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