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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 stated 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 massive information analytics, cashless declare funds and AI with its proprietary insurance coverage insurance policies bundled into subscription-based presents for its members. It goals to eradicate 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 just discover a group with this degree of know-how and trade 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, vital sickness insurance coverage,” stated Takahiro Suzuki, normal accomplice of Genesia Ventures.
WHY IT MATTERS
Moreover the seed funding announcement, Rey stated 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 Providers Authority (OJK).
Rey’s new merchandise would allow its purchasers to personalise companies that finest match their degree 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 companies.
“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 searching for to create a brand new paradigm for offering revolutionary insurance coverage options for his or her inhabitants,” stated 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’ information within the agency’s proprietary end-to-end well being and wellness ecosystem, which integrates declare database and analytics, major care system with pharmacy formularium administration, in addition to 360-degree EHR.
“The chance to ship life-changing services and products to deal with 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,” stated Glenn Kline, TPTF’s managing accomplice.
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