Roojai Group, an on-line insurance coverage firm based mostly in Thailand, has acquired Indonesian on-line insurance coverage dealer Lifepal.
Launched in 2019, Lifepal allows clients to ‘evaluate, save, declare’ their insurance coverage merchandise.
The corporate has attributed its development to the founders’ expertise in on-line distribution.
Over the previous 12 months, Lifepal has been on the lookout for a brand new investor with in-depth insurance coverage data, and Roojai Group emerged as the acceptable companion, acknowledged the Thai insurtech firm.
Monetary particulars concerning the transaction weren’t disclosed.
The acquisition will mix Roojai’s technological experience with Lifepal’s on-line distribution presence in Indonesia.
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As a part of the transaction, Lifepal will permit Roojai to entry its on-line distribution channel in Indonesia, whereas Roojai will present its proprietary pricing and underwriting know-how to assist improve Lifepal’s efficiency.
The strategic transfer will permit each firms to increase their product choices in addition to their on-line and offline distribution networks throughout Indonesia and in different broader areas, Roojai Group famous.
Moreover, the most recent deal is projected to learn Lifepal’s insurance coverage companions, who will achieve entry to Roojai’s experience in digitalising insurance coverage processes together with declare assist, automobile inspection and portfolio sustainability methods.
Lifepal will retain its operational independence inside Roojai Indonesia and proceed to offer on-line comparability companies for automobile and medical insurance.
In line with Roojai Group, the mixed experience of each the businesses will complement one another and additional bolster their current market share considerably.
Established in 2016, Roojai Group at the moment consists of Roojai Thailand, a digital insurance coverage firm, and MrKumka, a web-based insurance coverage comparability platform.
The group’s portfolio additionally consists of Roojai Indonesia, which was launched in 2022 to copy Roojai’s aggressive merchandise and buyer expertise for Indonesian customers.
In July 2023, Roojai sealed a deal to accumulate FWD Normal Insurance coverage Public Firm from Bolttech.
