ZA Tech Global Grows Reach in Southeast Asia
17 March 2021
The Chinese firm, which provides proprietary insurtech capabilities and applications, will work with PFI Mega Life, Prudential's Indonesian joint venture, to drive digital transformation of the insurance industry in the country.
As part of the partnership, the two sides will collaborate on technology know-how and will co-create insurance products and digital solutions catered to Indonesians.
ZA Tech Global will also help PFI Mega Life create a seamless digital experience for its customers and ecosystem partners, it said in an announcement on Thursday.
Plug and Play
The company's «Graphene» platform will allow the insurer to create a seamless digital experience for its customers and ecosystem partners, and rapidly launch products that closely meet customers' evolving needs and fill the protection gap, it said.
The two sides have already launched its first product in the country – an affordable and essential critical illness plan that is available through Grab.
«Driven by changing customer behaviours, the digitisation of the insurance industry has accelerated due to the pandemic. A combination of the right digital strategy and technology will position our insurance partners to produce more first-of-its-kind insurance offerings,» Young Yang, general manager of ZA Tech Southeast Asia, said in the announcement.
Southeast Asia Growth
ZA Tech Global is the business entity established by ZhongAn Technologies International, the international arm of Chinese online insurer ZhongAn Online P&C Insurance.
In Southeast Asia, it has formed a joint-venture company to explore the online insurance distribution sector and offer integrated insurance and finance solutions, and has inked partnerships with AIA, Ovo, and NTUC Income.