Bangkok-based Insurtech Sunday raised $45M led by Tencent

bangkokbased sunday ai 45m series

Launched in 2017 the Bangkok-based startup considers itself to be an all-rounder managing and handling every aspect of its company from policy distribution to underwriting. It amassed $ 45 M from Series B growing revenue by double in 2020. Offering a multitude of products like online policies on travel and motor insurance, it also has Sunday Health for Businesses, healthcare policies for its employees and smartphone plans on a subscription basis. Investors like SCB 10X. Vertex Growth, Tencent, Quona Capital, Aflac Ventures, Z venture Capital and Vertex Ventures Southeast Asia and India led Series B.

Insurance perception and usage in many Southeast Asian countries are still marginal. But the insurance industry and concept is gaining momentum gradually as more and more consumers become aware. With the Covid -19 pandemic hitting hard, financial planning and health coverage have taken a pivotal role in life.

Catering to nearly 1.6 million users, Sunday uses AI technology to underwrite its products. Indonesian startups like PasarPolis, Fuse, Quala and Lifepal have also been invested in. As awareness increases and health insurance becomes a necessity, a huge number of customers will now want health coverage, shopping online for health insurance. Sunday plans to bring to its customers’ retail insurance and also plans to increase its growth in Indonesia and Thailand, as observed by CEO and co-founder Cindy Kuo.

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Written by hwtricks

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