Indonesian Insurtech Company Receives Funding to Launch Subscription-Based Digital Insurance Products in Indonesia

Oct 2021

Rey Assurance, the first dedicated and integrated health, life and critical illness Insurtech company in Indonesia, has received approximately USD 1 million worth of seed funding from the Trans-Pacific Technology Fund. The funds would be used to launch its AI-based proprietary product offerings for individual and group members, which aims to integrate managed care, pharmacy and telemedicine along with categories such as intelligent digital life, health, and critical illness insurance. In addition, the offerings would utilize big data analytics from consumer wearables to personalize member wellness management experience, including rewards to promote healthier lifestyles.

A key purpose of this would be to allow Rey Assurance to quickly and profitably scale its digital insurance offerings, allowing it to reach members throughout Indonesia. By using a subscription model, it would allow for exponential cost savings for Indonesians, compared to traditional insurance products. In a recent report from the World Bank, there are more than 150 million middle-class Indonesians that are priced out of traditional private health, life, and critical illness insurance, and its new model is expected to offer the greatest insurance value of any type of insurance in Indonesia for a large number of uninsured citizens.

(Sources: Cision PRWeb)

About Us

Orissa International helps companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 companies that includes distributors, resellers, system integrators and local manufacturers, that we have built through advising and guiding more than 5,000 companies with their market expansion into the ASEAN region over the last 25 years.

Orissa International is headquartered in Singapore, with additional offices in Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

Our Services