Digital insurance firm Singapore Life raises $33M ahead of Southeast Asia expansion

TechCrunch | 1/15/2019 | Staff
loranseen (Posted by) Level 3
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Digital insurance firm Singapore Life has started 2019 with a bang after it raised $33 million across two investments as it eyes new market expansions in Southeast Asia.

The company pulled in $20 million from NYSE-listed Aflac Investment on December 31 and then it added a further $13 million this week via an investment from Aberdeen Standard Investments, a Scotland-based asset management firm with 50 offices worldwide. These deals take the company to $97 million to date, which included a massive $50 million Series A last year.

Singapore - Life - Walter - De - Oude

Singapore Life was started in 2014 by Walter de Oude, who left HSBC after seven years in charge of its insurance business in Singapore. The idea is a 100 percent digital insurance firm that removes piles of paperwork and passes the cost savings from dispensing with traditional business models on to users. The firm secured a license from the Monetary Authority of Singapore in 2017. It went live later that year and then gathered steam through the acquisition of Zurich Life Singapore’s business portfolio.

Today, its services including life insurance, family coverage, endowment plans, wealth portfolio services and more. The company also...
(Excerpt) Read more at: TechCrunch
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