AMTD Digital acquires insurtech startup PolicyPal. How has this acquisition impacted PolicyPal and how have things changed since the acquisition? - Seedly
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PolicyPal

Anonymous

Asked 2w ago

AMTD Digital acquires insurtech startup PolicyPal. How has this acquisition impacted PolicyPal and how have things changed since the acquisition?

Any upcoming new services or features to look out for?

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Hi Anon,

From this new partnership with AMTD, we are the world's digital insurer who gets bank partners, SME lending and payment distribution partners with a new investor coming on board. As we say, we are the new kid in the block and this model of scaling up inorganically is a unique model developed by us and we look forward to proving our state of the art Digital Insurer across Asia.

Insurance companies pay a huge amount to become partners with banks, DBS got over 1.2 billion from Manulife, UOB got over 1.15 billion from Prudential. Instead of trying to serve customers through traditional bancassurance channels, we have embarked on this journey to co-create it with our Digital Bank partners from scratch without any legacy and shackles. We call it the Bancassurance 2.0 model - the future of collaboration between Digital Banks and Digital Insurers to help customers receive the best products and experience.

We will be unlocking a lot of new distribution channels through our new banking, SME lending and payment partners. In the coming 12 months, we expect to grow at least 10x on our current distribution base so it will be a great opportunity for all partners to scale with us. We have the largest number of insurance partners in Singapore platforms today and we are thankful to each of these partners for believing in us. ​​​

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