In this episode, we talk to Cindy Kua, a co-Founder, and CEO of Thai-based InsurTech Sunday. The startup serves individuals and businesses as the “one-stop insurance shop” for digital healthcare, electronics, automotive and travel. Launched in Thailand in 2017, Sunday is now looking to expand into other markets in Southeast Asia. With the latest funding round, the startup starts its expansion in Indonesian.
What is remarkable, Cindy is the second generation in her family building an insurance company. Her father, Kua Sian Kooi, founded KSK insurance in Malaysia in 1991. The company is among the most successful general insurance companies in Malaysia. In Thailand, Cindy is now trying to capture the large market potential with the next generation of an insurance disruptor.
Sunday was able to leverage the existing insurance license from KSK’s branch in Thailand to build a fully digital InsurTech from scratch and focus on new forms of distribution. With the advantage of a greenfield market, Sunday was in a position to design and launch new products at a much faster speed compared to what would have been possible for the insurance incumbent. While KSK is a valuable partner, Sunday is working with other insurers in Thailand to underwrite different products, especially in the life insurance space.