Interest in Thailand’s insurtech sector is picking up, with companies in the space closing million dollar funding rounds, incumbents ramping up digital capabilities, and foreign companies entering the market.
So far, 2021 has seen two Thai insurtech companies securing funding. The two Series A rounds were closed by Muang Thai Broker (US$6.7 million), the operator of online insurance comparison platform and sales platform Gettgo, and AppMan (US$4.6 million), the operator of AgentMate, an electronic point-of-sale (POS) that digitizes the sales process of life and non-life insurance.
AppMan, one of Thailand’s insurtech pioneers, said it will use the proceeds to expand and develop innovative technologies in the Asia Pacific (APAC) region, including artificial intelligence (AI) for insights screening for insurance and financial services incumbents.
Insurtech prototype unveiled
published : 12 Feb 2021 at 04:00
15 AIS and MSIG Insurance launch innovative insuretech, which will gauge customers driving behaviour by using MSIG s car informatics equipment.
Leading mobile operator Advanced Info Service (AIS) has partnered with MSIG Insurance to launch Prakan Kubdee motor insurance, gauging motorists driving behaviour using an Internet of Things (IoT) device attached to their vehicles for premium calculation.
This project is the first under the Office of the Insurance Commission s (OIC) regulatory sandbox. The product is part of AIS Insurance Service, which serves as a digital insurance broker, said Alistair David Johnston, managing director for new business at AIS.