In this episode, Michael Waitze talks to Firras Sabbah, the founder of Go! Insurance. Firras started his career in insurance with German insurer Allianz and was the CIO of Allianz General Insurance Thailand. Experiencing the problems insurance incumbents are facing first hand, he decided to start Go! Insurance. While Go!’s first concept was around motor insurance, Firras has shifted towards digital health insurance and health ecosystems.
Startups in the insurance space still find major opportunities in this massive market even during a global pandemic. Michael and Firras are chatting about the recent IPO of US insurer Lemonade and the implication on the global InsurTech landscape. Despite still operating at a loss and filing for an IPO in the middle of the US COVID crisis, Lemonade exceeded many expectations. Good news for Go! which is currently partnering with Krungthai Panich Insurance for their underwriting but has plans to become a full-stack licensed insurer.
Go! wants to tap into the health insurance market in Thailand and enable more people to get access to affordable health insurance. The idea is to demystify coverages and streamline the buying process. The startup is leveraging technology to simplify the customer journey, personalize services, and make products and features easy to understand. Customers will be able to buy health insurance plans in 4-5 minutes which is a first in Thailand.
If you want to learn more about the Thai InsurTech landscape, listen to our roundtable with 4 Thai-based InsurTechs here.
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The music on this episode was created by Jay Man and is called “Soaring”.