Close to the end of 2022, we see more money pouring into InsurTech in APAC. Australian Cover Genius raises $70M in Series D funding, Hong Kong InsurTech platform CoverGo received a strategic investment from Middle Eastern venture capital fund Noria Capital and Singapore InsurTech Igloo increases its Series B to $46M. Many are predicting a colder investment climate so are those the last major InsurTech investments?
Beyond new funding rounds we have lots of news coming out of Singapore. DocDoc announced their partnership with Aon and more insurers in Asia to offer data-enabled patient empowerment solutions to members of employer health plans. We just had founder and CEO Cole on the show. Listen to the episode here.
Singapore Insurer Income announced their expansion beyond Southeast Asia to Japan. Only last month we reported on their expansion into Thailand. ReMark, the digital solutions provider of global reinsurer, SCOR, is the first international partner to adopt Income’s micro-insurance franchise model.
Aggregator MoneySmart launches own insurance brand, Bubblegum in Singapore. Bubblegum seems to be operating under MoneySmart’s license and offers branded insurance products underwritten by a range of different insurers.
With so much InsurTech activity, the Singapore authorities launch their own initiative. The Monetary Authority of Singapore (MAS) and the Smart Nation and Digital Government Group (SNDGG) announced that individuals will now be able to digitally access and aggregate information on their life, accident and health insurance policies held across different participating insurers.
On December 8th you can witness the most innovative insurers and InsurTechs globally pitch live at The World’s Digital Insurance Awards 2022 – Global Finals. Watch the live pitches and vote for the winners. You can sign up here.