Allianz Ayudhya has announced three winning start-ups from its inaugural insurance technology (insurtech) incubation program in Thailand.
Among a shortlist of 14 firms, the trio were selected for their innovative approach to delivering insurance service solutions to customers, such as a surgical treatment matching network and remote care service, a statement by Allianz said. The winners were:
The three winners will receive seed funding of THB2 million (US$653,000), access to a sandbox facility and an opportunity to scale their business through Allianz’s global network reaching over 70 markets.
By working alongside Allianz Ayudhya, the start-ups will gain exposure with senior management at Allianz Asia-Pacific in Singapore and will be hosted in Munich, Germany at Allianz X, Allianz Group’s digital investment unit. In Munich, the teams will have the opportunity to present their solutions to Allianz executives.
“In the rapidly evolving Thai market, our customers need simple products and services that can be accessed conveniently - and digital innovation is the key enabler to allow us to address this need,” said Bryan Smith, president and CEO of Allianz Ayudhya Assurance. “We believe by working with start-ups who share the same goal and passion, we can together develop and deliver the most innovative insurance solutions that truly meet the Thai customer’s expectations.”
Three other firms - Diamate, Medisee, and Health Smile - won special partnership awards, where their ideas will be incorporated into Allianz’s “Healthyliving.com” portal.
The program began in November 2017 with 50 teams and more than 150 applicants. Fourteen finalists were selected for the 12-week incubation where participants learned from over 30 leading international and local experts.
