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Singapore: Fintech group C88 grows auto finance & insurance biz

Source: Asia Insurance Review | Apr 2017

Singapore-headquartered C88 Group has made its second acquisition to date, to fast-track the growth of its automotive finance and insurance business, C88 CEO JP Ellis has said. 
 
   C88 acquired Indonesia-based site Otobro last month. Otobro helps people decide which car or motorcycle to buy and what types of financing are available, reported Tech in Asia.
 
   Two years ago, C88 bought a software company in Manila, ThinkTank Software, engaged in fintech-related IP.
 
   In Indonesia, C88 operates branches in seven major cities. Its brands in Indonesia are CekAja, for things like credit cards, loans, and investment opportunities; Premiro, which specialises in insurance, and now Otobro, which focuses financing and insurance options for cars and motorbikes.
 
   C88 has a “digital selling rights” agreement with its partners and requires technical integration with the partner’s system. It means C88 customers complete their purchase directly, instead of having their contact information handed off to a third party.
 
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