The Asia InsurTech Podcast was happy to be joined again by Harshet Lunani, the Founder of Qoala. The first time he was on the show was back in August of 2019 and then he subsequently participated in.a panel discussion about COVID-19 in April 2020. AIP wanted to catch up with Harshet because so much has changed since the middle of 2019 and we wanted to get his perspective.
Some of the topics we discussed included:
- COVID has been good for the Insurance and InsurTech space, illuminating how technology can help
- Technology is helpful not just in distribution but also creates substantial operation efficiencies
- The difference in the acceptance level of InsurTechs from both incumbents and consumers
- The significance of Lemonade’s IPO and the upcoming GRAB SPAC
- Qoala’s international expansion – now operates in Indonesia, Malaysia, Vietnam, and Thailand
- The acquisition of FairDee and why that was the most efficient way to expand to Thailand
- Expansion was made more complex by COVID and he has still not met the teams in Vietnam or Thailand in person
- Inculcating culture remotely has been a challenge
- Amidst all of the difficulties of the last 12 months, still achieved 6X revenue growth
Other companies mentioned in this episode – Lemonade, Digit, PolicyBazaar, GRAB, SingLife, SEA, and Waterdrop
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