The nuts-and-Bolttech of insurtech in SEA

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Hello there,

May was a windfall month for insurtech startups in Southeast Asia. Three companies – Aman, Aigis, and Qoala – cumulatively raised US$67 million.

To top that off, Grab investor Eurazeo recently announced the launch of a US$215 million fund exclusively for insurtech players in the region.

With the majority of Southeast Asians still not holding an insurance policy, can these investments be seen as a sign of traction in the sector in the months to come?

In this week’s big stories, my colleague Melissa profiles Bolttech, the enigmatic insurtech unicorn backed by Hong Kong billionaire Richard Li, while Qishin dives into the opportunities and challenges that await the sector in the region.

While the insurtech sector appears to be booming, much of the “innovation” has been piecemeal, with digitalization efforts focusing on the distribution leg of the insurance journey. Will emerging insurtech firms bring more of the same or shake up the space?

Meanwhile, in this week’s Hot Take, I examine a recent directive of India’s central bank that has spooked the country’s fintech ecosystem. Is it the beginning of a crackdown on the US$30 billion industry?

Read on to know more.

– Samreen

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THE BIG STORIES

1️⃣ The rise of enigmatic insurtech unicorn Bolttech
Bolttech may have achieved unicorn status in under two years, but the Richard Li-backed firm remains relatively unknown even within insurtech circles.

2️⃣ Is 2022 the year of insurtech? Not so fast
Investors seem bullish about insurtech as money pours into the space. But can the products live up to the hype?

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THE HOT TAKE

The hoopla around the Indian central bank’s crackdown on fintech firms

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NEWS YOU SHOULD KNOW

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FYI

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