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Qoala is ranked 45th in The World’s Top 100 Insurtech 2022

Sinta, news . 18 Nov 2022

Heaptalk, Jakarta — An insurance technology or insurtech startup from Indonesia, Qoala managed to rank 45th on The Insurtech 100 2022 list released by Sonr, a market intelligence platform for the insurance industry. The Insurtech 100 is an annual ranking of the world’s leading startups, scaleups, and innovators that drive changes in the insurance industry.

The top 100 list is selected through several rigorous stages. Firstly, Sonr filtered 100 insurance companies using an index that combines millions of data on key selection criteria, including leadership, product, and business performance. After the filter results appeared, Sonr gathered expert analysis and perspectives from several industry leaders representing organizations, spanning consulting firm EY and insurance provider Generali. At least, three independent experts assessed and critically evaluated all companies to generate a final result. This year is the 4th Insurtech 100 released by Sonr.

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Co-founder and Deputy CEO of Qoala Tommy Martin delivered “We are delighted and grateful that Qoala can be in this ranking. This is a major achievement as well as an appreciation for Qoala’s efforts to facilitate access to insurance for the people of Indonesia to Southeast Asia.”

The insurance industry is a market with low penetration but has massive potential, particularly in Indonesia. Multiple factors lead to low insurance penetration, ranging from the lack of access to low insurance literacy in society. Founded in 2018, Qoala is committed to providing a first-rate insurance experience for its customers through a fast and easy process of purchasing policies and claims.

Numerous innovations are implemented to help digitalize insurance products more efficiently through technology. Unlike other insurance technology companies, Qoala focuses more on activating insurance for individual customer needs.

“Innovation is not only carried out in the field of technology but also through how we create processes and services, as well as presenting better insurance products. In addition, we also try to provide education regarding the importance of having insurance through our various communication platforms and the customer’s own experience when making insurance claims,” said Tommy. With these efforts, the startup saw high interest in insurance.

As an insurance technology company, Qoala works closely with insurance broker PT Mitra Jasa Pratama and several leading insurance companies, to develop the best insurance products, spanning life insurance, health, vehicles, and cash benefits.

Insurance submissions can be made online through the Qoala website and application to help customers choose and compare multiple insurance products to select the most appropriate one at affordable premium prices as well as a fast registration and purchase process. Customers will be assisted by insurance advisors in finding insurance according to their needs, including processing claims through the application.