Health

Indonesian well being insurtech agency Rey Assurance raises $4.2M in seed funding



Rey Assurance, touted to be “the primary devoted and built-in well being, life and important sickness insurtech firm in Indonesia”, introduced final Wednesday that it has acquired $4.2 million in seed funding from the Trans-Pacific Expertise Fund, Genesia Ventures and RDS.

Also referred to as Rey, the membership-based on-line healthcare agency mentioned in a press assertion that it seeks “to advance its digital well being merchandise and main know-how platform” utilizing the funding.

WHAT IT DOES

The Jakarta-headquartered firm blends platforms together with huge knowledge analytics, cashless declare funds and AI with its proprietary insurance coverage insurance policies bundled into subscription-based provides for its members. It goals to remove paper-based processes.

With strategic companions in telemedicine, pharmacy and cashless fee areas, the agency seeks to enhance the wellbeing of its members.

“It’s not typically that you simply discover a group with this stage of know-how and business experience coupled with a ground-breaking idea of an built-in well being and wellness ecosystem with cashless claims, telemedicine, managed care, life insurance coverage, medical insurance, crucial sickness insurance coverage,” mentioned Takahiro Suzuki, normal companion of Genesia Ventures.

WHY IT MATTERS

In addition to the seed funding announcement, Rey mentioned in the identical assertion that it “is launching a brand new, disruptive suite of outpatient and inpatient merchandise”, which have been authorised by Indonesia’s authorities company Monetary Companies Authority (OJK).

Rey’s new merchandise would allow its shoppers to personalise providers that finest match their stage of canopy wants. Its declare system features a debit card often known as ReyCard that enables its members to make funds at any healthcare supplier, together with these aside from hospital chains. It provides that members would save up greater than subscribing to conventional insurance coverage businesses.

“We’re grateful for the funding and expanded partnerships which help our mission to assist enhance well being fairness for all Indonesians whereas additionally shining a highlight for different international locations in search of to create a brand new paradigm for offering modern insurance coverage options for his or her inhabitants,” mentioned Rey’s CEO and co-founder Evan Tanotogono.

ON THE RECORD

Rey has additionally acquired the ISO/IEC 27001 certification, with the scope of Data Safety Administration for Digital Insurance coverage with Built-in Well being Ecosystem. This signifies the insurtech firm’s dedication to the usage of its members’ knowledge within the agency’s proprietary end-to-end well being and wellness ecosystem, which integrates declare database and analytics, main care system with pharmacy formularium administration, in addition to 360-degree EHR.

“The chance to ship life-changing services and products to handle the numerous unmet wants for the (round) 97% of the (round) 270 million Indonesian inhabitants is likely one of the main causes TPTF determined to collectively lead the spherical with Genesia Ventures,” mentioned Glenn Kline, TPTF’s managing companion.



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