Heaptalk, Jakarta — Thailand’s insurtech Roojai Group has acquired Indonesia’s online insurance broker, Lifepal with undisclosed amount.
Following this acquisition, Lifepal claimed to remain independent and continue to deliver online comparison services for car and health insurance. Roojai also plans to integrate technology and apply his experience running a business in Thailand to Lifepal. The capabilities of each company will be synergized to offer a more diverse range of insurance products for people in the archipelago.
This strategic move is expected to benefit from Roojai’s expertise in digital transformation in the insurance sector, such as car inspection, claims support and portfolio sustainability strategies.
In the past year, Lifepal company has been looking for hands-on new investors with deep insurance knowledge and found the perfect match with Roojai. The strategic acquisition marks a synergy to strengthen the company’s businesses. Lifepal will provide access to the largest online distribution channel in the country, while Roojai will improve the company’s performance with its premium price, underwriting, and overall better customer experience.
“These companies will work on expanding their product offerings and online and offline distribution, ensuring a comprehensive and customer-centric approach to insurance services.” Roojai Group management said on its official website.
Established in 2016, Roojai Group’s business coverage includes Roojai Thailand regarding digital insurance, MrKumka as an online insurance comparison portal in Thailand, and Roojai Indonesia, which was launched in 2022 to provide competitive products and the same customer experience to Indonesian consumers.
Roojai cooperated with PT Sampo Insurance Indonesia as its official agent in Indonesia. This insurtech company provides various insurances, spanning all risk car insurance, critical illness, cancer, heart disease, personal accident and hospital cash plans. Before acquiring Lifepal, Roojai bags Series B funding at US$42 million from HDI International and International Finance Corporation (IFC) as of March 2023.
