November ends with more news from Singlife. The newly formed holding company Aviva Singlife issues S$550m subordinated notes to be listed on the Singapore Exchange. The money collected will be used for funding the purchase of Aviva Singapore operations and the capital requirements.
In India, InsurTech startup Turtlemint raises $30 million. Turtlemint works with insurance sales agents / brokers and with over 40 insurance companies helping them to digitise the sales process. In China, rumour has it that Tencent is to invest an additional $150m in Chinese insurtech firm Waterdrop. Only in August, Tencent lead a $230 million series D round together with Swiss Re into Waterdrop.
And we are having amazing news from several AIP alumni. Australian Upcover goes national with a food delivery partnership offering insurance to the gig economy. In Japan, justInCase partners with Daido Life Insurance to offer free COVID coverage to Daido’s SME clients. And Singapore based DocDoc has partnered with TPA SpesNet Global Group. DocDoc will integrate SpesNet’s digital TPA technology with DocDoc’s telemedicine platform and AI-powered doctor discovery platform, HOPE.
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