PasarPolis Records Millions of Policy Sales in Thailand and Vietnam, Prepares for Expansion to Singapore

Startups insurtech PasarPolis continues to strengthen its position by recording significant achievements in Thailand and Vietnam. After successfully expanded its operations since 2019, PasarPolis has sold millions of policies in both countries, underscoring its commitment to democratizing insurance through technological innovation and a customer-centric approach.

In the latest financial report, PasarPolis shows a two-fold increase in revenue since its last funding round, as well as a 250% surge in Gross Written Premium (GWP) this fiscal year. This achievement reflects the significant growth the company has achieved, especially through strategic collaborations with key partners such as Shopee, VFS Global, VNtrip, Sendo, and Chotot.

VP Corporate Finance & Regional Partnerships PasarPolis, Brendan Batanghari, stated that the success in the Vietnam and Thailand markets was driven by the right ecosystem partnerships and efficient operations. "We are proud of our achievements and are committed to continuing to democratize insurance across Southeast Asia," he said.

PasarPolis also plans to expand its reach to Singapore, targeting a compound annual growth rate (CAGR) of 50% over the next four years. The company is focused on profitability, continuous innovation and strengthening its position as a regional leader in the industry. insurtech.

B2B2C strategic partnerships drive success

Success PasarPolis in Thailand and Vietnam is inseparable from the strong B2B2C partnership strategy. In Indonesia, the company has partnered with Shopee to offer insurance for electronic devices and cracked screens, which was later expanded to Thailand and Vietnam with wider insurance coverage.

In Vietnam, the partnership covers electronic device insurance and product liability, while in Thailand, PasarPolis launched digital protection for electronics, which gained significant consumer adoption and satisfaction.

This success demonstrates the platform's capabilities. PasarPolis to easily expand to other markets with minimal investment. In addition to Shopee, PasarPolis also partners with VFS Global, as well as VNtrip, Sendo, and Chotot in various markets.

Next expansion plan

PasarPolis plans to expand its reach into new markets, including Singapore. The company remains committed to continuous innovation, with plans to introduce new products and enhance existing offerings to meet the evolving needs of the market.

PasarPolis is on track to achieve profitability, leveraging technology, data analytics and strategic partnerships to drive sustainable growth and market leadership in the sector. insurtech.

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Disclosure: This article was produced with AI technology and supervision of the content writer