AIP News RoundUp – Episode 22 – Rahul Mathur and Theresa Blissing – Have One Source of Truth

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Michael Waitze has been podcasting with some of the best investors and business builders globally and discussing all things startup with them from an Asian perspective. Michael worked in Global Finance for more than 20 years, employed by firms like Citigroup, Morgan Stanley, and Goldman Sachs, primarily in Tokyo. Michael always maintained a particular focus on how technology could be used successfully to make businesses more efficient and to drive P/L growth. Michael is quite skilled at connecting people and capital to innovative ideas and is a trusted advisor to both investors and founders. Michael is a leader in the digital media space, having pioneered the concept of a podcast network in Asia while building the biggest and fastest-growing listener base in the region. His flagship website, AsiaTechPodcast.com, has listeners in over 100 countries and is available on virtually every podcast player that supports RSS feeds.

Theresa is the founder of the Asia InsurTech Podcast and a Thought Leader on innovation in insurance in Asia. She has worked for ten years for leading multinational insurers in Europe and Asia before turning to management consulting and venture building with the goal of transforming the insurance industry and helping shape its future in the region.

Guest
Rahul Mathur

Rahul is the Startup lead at Accenture’s FinTech Innovation Lab in London. Prior to joining Accenture, he was an Insurance Product Manager at Laka Insurance, a London headquartered early stage InsurTech start-up which recently won at the British Insurance Awards 2019.  Rahul holds a master’s degree in Statistics from the University of Warwick. He is an Ambassador at the Asia InsurTech podcast.

July started with major investment news coming out of India. SoftBank made another investment of USD 150 million into PolicyBazaar and holds now a 15% stake while CEO and co-founder Yashish Dahiya calls the investment a ‘mistake’.  (Listen to the podcast we recorded with Yashish in April 2020 here.) More international investment rumors coming from Google and its plans to invest USD 4 billion into Jio Platforms, the telco subsidiary of Reliance Industries Limited. At the same time, Reliance has announced plans to expand its financial services including insurance broking and mutual fund products on the Jio platform. And newcomer PlumHQ, an Indian group health insurance startup, has raised over USD 900k in seed funding.

In the Philippines, we are witnessing the start of a new Regulatory Sandbox and the announcement of a new insurance marketplace currently developed by Filipino tech startup Kwik.insure. We are also seeing more partnerships to leverage new forms of distribution. In Singapore, Singtel’s Dash launched an insurance savings plan in partnership with Etiqa, and in Indonesia, we are seeing a new partnership between Qoala, Simas InsurTech, part of Indo conglomerate Sinarmas Group and OYO, the global accommodation network. 

In Taiwan, insurers formed an alliance to establish a blockchain-based partnership to facilitate information exchange in order to make life easier for customers with multiple policies. This is the first step to a holistic industry consortium leveraging blockchain technology.  And Taiwan/Hong Kong startup OneDegree announced the launch of IXT Core, a core insurance platform available for insurers, MGAs, and brokers. We have seen several cases of full-stack insurers and brokers moving into SaaS. The question now is, how many do we actually need? 

Listen to our Asia InsurTech Podcast episode with OneDegree’s Alex Leung.

Other companies mentioned in this episode: Acko, Vesl, IndiaFirst, Wefox, OneConnect, PingAn

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