ZhongAn partners with SE Asia's super app company
Source: Asia Insurance Review | Feb 2019
ZhongAn Online P&C Insurance, the first online-only insurer in China, has announced that its subsidiary ZhongAn Technologies International, and Grab Holdings, Southeast Asia’s online-to-offline mobile platform, will establish a joint venture company to enter the digital insurance distribution business in Southeast Asia.
The JV will create a digital insurance marketplace that offers innovative insurance products in a range of categories with fractionalised premiums, directly to users through the Grab mobile app. It will collaborate with global insurance partners to develop products that are tailored specifically to Southeast Asians’ lifestyle needs.
As part of the agreement, ZhongAn International will bring technical assets to build the platform and insight into Internet ecosystems to the JV. Grab will launch the digital insurance platform through its mobile app and tap its wide user base and customer insights to deliver customised insurance products to millions of users.
The platform will be launched in Singapore in the first half of 2019, before being rolled out in other markets.
Last year, Grab expanded beyond its core transport offering to become the region’s super app and provide users with food delivery, parcel delivery, grocery delivery, financial services, content and more. This year, Grab will expand into cross-border remittance and online healthcare.
Grab currently offers services in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia. A
|The above news story is taken from Asia Insurance Review’s unique eWeekly China newsletter. eWeekly China focuses on the world’s fourth largest insurance market - in English – providing the most up-to-date news to give readers insights and overviews of the Chinese market.