June started with lots of InsurTech news from familiar faces. Go! Insurance announced pre-seed funding and the launch of Thailand’s first insurance platform that allows purchasing health insurance online with automated underwriting. DocDoc has announced a new partnership with a Chinese insurance risk control company Kaitaiming Technology (KTM). KTM will give access to DocDoc’s doctor discovery services to clients from major insurers including Ping An, China Pacific, China Continent, TK.CN, Alltrust.
NTUC Income’s has launched its new micro-insurance product Snack which will be an interesting one to watch. Income is using triggers to help customers build an insurance portfolio in PA, critical illness, and term life. Last year the company rolled out micro-insurance products with super app Grab. Grab and Singlife also had their share in the news announcing impressive numbers for assets under management and policies sold, but a lack of details leaves the team unsure how impressive the numbers actually are.
More micro-insurance news coming from Democrance. The Dubai InsurTech has partnered with AXA and money transfer service Hello Paisa to offer complimentary access to the personal accident insurance to Hello Paisa’s existing customers. This might be a great way to introduce foreign domestic workers sending money home to their loved ones to the concept of MicroInsurance. Stay tuned for more from Democrance. Our episode with them will be published soon.
Other news about Acko and its partnership with Shadowfax, PhonePe launch of domestic trip insurance with ICICI Lombard, and MetLife’s adoption of Shift Technologies AI solution “Force” for fraudulent claim detection in Japan as well as the acquisition of PolicyPal by AMTD.