Thailand’s InsurTech nabs top Indonesian online insurance broker.

January 18, 2024
1 min read

TLDR:

  • Thailand-based insurtech company, The Roojai Group, has acquired Lifepal, the leading online insurance broker in Indonesia.
  • The acquisition will strengthen Roojai’s position in Southeast Asia’s most populous country and allow both companies to expand their product offerings and distribution channels.

Thailand-based insurtech company, The Roojai Group, has acquired Lifepal, the leading online insurance broker in Indonesia. The acquisition solidifies Roojai’s position in Southeast Asia’s largest country and will enable both companies to enhance their product offerings and expand their online and offline distribution channels.

Lifepal will continue to operate independently from Roojai Indonesia, offering online comparison services for car and health insurance. The acquisition is expected to bring synergies between the two companies, with Lifepal benefiting from Roojai’s proprietary pricing, underwriting technology, and customer experience, while Roojai gains access to Lifepal’s vast online distribution channel.

The Roojai Group, which was established in 2016, currently operates Roojai Thailand, the leading digital insurance company in Thailand, as well as MrKumka, an online insurance comparison website in Thailand. In 2022, Roojai Indonesia was launched to provide competitive products and customer experience to Indonesian consumers. With the acquisition of Lifepal, Roojai Group aims to offer the best customer-centered insurance services not only in Indonesia but also in other parts of the region.

Lifepal, founded in 2019, has been seeking a new investor with deep insurance knowledge and found the perfect match in Roojai. Both companies share a vision for innovation and customer-centric approach to insurance services, which will drive their growth and success in the Indonesian market.

The acquisition of Lifepal is part of Roojai’s expansion strategy in Southeast Asia’s insurance markets. With digitization, economic growth, and climate change driving the demand for insurance in the region, Roojai aims to capitalize on the opportunities and become a leading player in the insurtech industry.

In conclusion, the acquisition of Lifepal by The Roojai Group strengthens the group’s presence in Indonesia and allows it to offer a comprehensive range of insurance products and services. Both companies share a commitment to innovation and customer satisfaction, which will drive their success in the Southeast Asian market.

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