UK insurtech Inzura expands in Asia with offices in Thailand and Singapore

A UK-based insurtech has opened offices in Thailand and Singapore and hired a high profile business development director to get off to a good start.

With the new offices, Inzura, which already has a strong brand presence in the region, plans to take advantage of the growing demand from Asian insurers for advanced technology and digital-first, data-driven approaches.

The insurtech’s customers in the region include Sompo Holdings, Asia Chubb, Syn Mun Kong and Muang Thai Insurance, one of the biggest Thai motor insurers.

At the beginning of 2019 Inzura signed new memorandums of understanding (MoUs) with Thailand’s largest broker TQM, Malaysian startup insurer Ouch! and Kuala Lumpur-based Merimen.

The tech firm has hired Nicholas Lee as business development director for Asia, based in Singapore. Lee has 20 years’ experience in the market, working with some of the biggest names in Asian insurance.

He will work alongside Bundid Sujirapinyokul, Inzura’s managing director in Thailand.
Lee has held numerous senior roles including head of broking at Sompo Insurance, director at global health insurer Aetna Global Benefits, senior manager at AXA Insurance Singapore, and assistant vice president for Lockton Companies (Singapore).

Richard Jelbert, Inzura CEO, said: “Asia is emerging as a hub for insurtech innovation. Regulators in the region are actively promoting digital innovation, and consumer use of digital channels is growing rapidly.

“Inzura has for some time been a shining light of British insurtech innovation in the region, but with strong investment behind us, a new office in Thailand and a regional hub in Singapore, we’ve a platform from which to capitalise further on demand for our products and services,” he concluded.