In this Market Map, we look at Asia-Pacific-based startups shaping the future of the global insurance industry — from digital-first providers to embedded technology platforms.
The Asia-Pacific region is home to some of the world’s largest insurance companies, such as Ping An Insurance, Nippon Life Insurance, and the Life Insurance Corporation of India. Now, startups in the region are also beginning to influence the global insurance industry.
Asia-based insurtechs raised $7.4B in funding between 2018 and 2022, fueling a group of startups across the insurance landscape — especially in personal lines coverage and distribution channels.
Within the personal lines space, health & benefits is a strong focus among the region’s insurtechs. For instance, India-based Plum offers an employer health benefits platform that provides employees with health insurance, primary care access, and online well-being resources.
Meanwhile, embedded insurance is a key area within the distribution space. For instance, Singapore-based Igloo offers an API that allows B2B clients to provide their customers with an online option to purchase insurance.
Using CB Insights data, we identified 100 startups in the Asia-Pacific region looking to shape the future of the insurance industry.
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