🧠 Food for thought

Implications, context, and why it matters.

PolicyStreet can underwrite and build insurance products

• PolicyStreet holds a general insurance and reinsurance license from Malaysia’s Labuan Financial Services Authority (LFSA), a financial regulator for the Labuan offshore business and financial center 1.
• That approval lets the firm design and underwrite cover, including sachet-based (small-ticket, low-premium) plans and on-demand policies. Many regional insurtechs lack permission to do this 1.
• It also has financial adviser and Islamic financial adviser approvals from Bank Negara Malaysia (Malaysia’s central bank), plus an Australian Financial Services Licence (AFSL). These clearances help it roll out customised coverage for underserved communities, including gig workers through partners such as foodpanda Malaysia 2.

PolicyStreet’s profitability supports the case for durable embedded insurance

• PolicyStreet reported profitability in 2025, with over US$1 million in profit after tax. The company linked this result to its US$15.3 million Series B led by Khazanah Nasional, a Malaysian sovereign wealth fund, in 2023 3.
• It credited much of the year’s expansion to embedded insurance deals across Malaysia, plus other Southeast Asian markets 3.
• Winnie Chua said AI is driving more personalised and usage-based insurance products in Asia. She also cited granular risk assessment using alternative data, which can help tailor products for segments like gig workers and small businesses 4.