The second half of October wasn’t any less busy in terms of InsurTech news coming out of Asia. SingLife is in the news again with Walter de Oude, CEO and founder of SingLife, explaining on MoneyFM the SingLife account system and how they are combining savings, protection and spending into one account as well as the super quirky retrenchment insurance model.
PingAn with its different ventures is making news again as well. Rahul has just published an analysis on their business model here and PingAn’s Good Doctor is making noise with its partnership with Grab. They have launched GrabHealth in Indonesia providing O2O healthcare solutions. This seems like the answer to GoJek’s alliance with HaloDoc. The game between Grab and GoJek is definitely on. Even in terms of their financial services strategies. Who is going to win this battle?
And we have another tech company joining the insurance game. Kakao from South Korea. Kakao is a messaging app that is attempting to build a super app ecosystem. With its mobile wallet, Kakao Pay, the company has already entered the financial services sector and opened Kakao Bank, an online-only bank, in 2016/2017. Now Kakao has teamed up with Samsung Fire & Marine Insurance to launch a new internet-only non-life insurer by the middle of next year. The first internet-only insurer in Korea was a corporate venture developed by Hanwha General Insurance.
Other companies mentioned in this episode:
Generali, The CareVoice (Listen to our episode with them here), JRNY, Artivatic (Listen to our episode with them here), Lemonade, Zhong An, Zhong An Technology, Shift Technology, Plug and Play, Toffee (Listen to our episode with them here), Acko (Listen to our episode with them here)