March starts with news from Symbo. The InsurTech secured another funding round and collected $9.4M to expand across India and Southeast Asia. In China, Xiaobangguihua has raised new funding as well. The startup focuses on online insurance sonultation and offer online courses to increase financial literacy.
In Hong Kong, OneDegree es expanding beyong pet insurance. The virtual insurers is aiming to disrupt the market offering 70-80% cheaper home fire insurance compared to insurance incumbents. In addition to being a licensed virtual insurer, OneDegree is operating a SaaS model and secured a new partnership with Ciga in Taiwan.
In Australia, gig econoomy InsurTech Upcover is working in the background to get behind a NSW Governments proposal to impose a levy to make sure every food delivery rider has the right insurance in place. And in Indonesia, Grab and PFI Mega Life are offering a new critical illness micro-insurance coverage.