Power up! Thai insurtech company Roojai just acquired Singaporean insurance firm DirectAsia group from Hiscox. 

• Launched in 2016, Roojai makes insurance more simple and affordable.
• With this, they’ll now be active across Thailand, Singapore, and Indonesia. 

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🚗 About Roojai

They sell motor, accident, and health insurance for cancer and critical illnesses products on their website and app.

• Everything’s fast. Get insurance coverage just minutes after paying!
• They raised a $42M Series B earlier this March from HDI International and The IFC. 

About DirectAsia. Launched in 2010, they entered the Thai market in 2013 selling car, motorcycle, and travel insurance. 

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🔎 More deets 

DirectAsia Thailand will be rebranded to Roojai Thailand, but DirectAsia Singapore will retain its branding. 

With this acquisition, Roojai increases its market share:

• 400K vehicles insured in three countries
• 300K individuals protected with its accident and health products

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🔼 In the horizon

The transaction is still subject to customary conditions and regulatory approvals though–but this will be done by year’s end!

• Not their first rodeo. In July this year, Roojai acquired FWD Thailand from another insurtech startup, bolttech. 
• Is the Philippines next? Roojai previously said that they’ll be expanding to new Southeast Asian markets soon.