EP 30 – Rohan Kumar – co-Founder & CEO Toffee Insurance – It’s a Collaborative Effort


Michael Waitze worked in Global Finance for more than 20 years, employed by firms like Citigroup, Morgan Stanley and Goldman Sachs, primarily in Tokyo.  Michael lived and worked in Tokyo from February 1990 until December 2011.  Michael always maintained a particular focus on how technology could be used to make businesses more efficient and to drive P/L growth. Michael is a leader in the digital media space, building one of the biggest and fastest-growing podcast listener bases in the region.  His AsiaTechPodcast.com show has listeners in more than 170 countries and his company, Michael Waitze Media produces some of Asia’s most popular podcasts.

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In this episode, Michal Waitze speaks with Rohan Kumar CEO and Co-Founder of Toffee Insurance. Toffee Insurance was founded 2017 and its focus is on selling micro insurance for different kinds of services. Rohan went to the University of Lincoln and Massey University. Early in his career he worked for companies like Shell.

Rohan discovered while consulting with some incumbent insurance companies that he wanted to create and sell his own product so he and his co-Founder, Nishant Jain, began building Toffee Insurance. Michael and Rohan discuss simplifying the process of buying insurance and making it more contextual and affordable. They also talk about how point-of-sale for things like bicycles creates a new way to sell and distribute insurance.

He and Michael discuss a special Denge insurance product that is unbundled from more traditional offerings that can be sold for a lower cost. Toffee’s innovative partnerships and alternative distribution models allow them to work with pharmacies to sell this product along with mosquito spray, again utilziing point-of-sale in a way that has not been used prior.

Michael asks Rohan’s opinion on companies like Grab and GoJek and their new way of acting as distribution channels for microinsurance. He says the best point of sale depends on the product. For bicycles it is offline but for travel insurance that is simply addable to your booking it is online. They also speak about the importance of gathering data and how data analytics will continue to grow in importance for InsurTechs and the insurance industry.

Other companies mentioned in this episode:

Apollo Munich, Amazon, Grab, GoJek, Bukalapak, Lazada, Tokopedia, Apple, Flipkart, MakeMyTrip

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