Indonesian Insurtech Rey Assurance Secures US$4.2 Million Seed Fundingby Fintech News Indonesia July 7, 2022
Indonesian insurtech Rey Assurance announced that it has secured US$4.2 million in seed funding to advance its digital health products and technology platform.
The funding round was joined by Trans-Pacific Technology Fund (TPTF), Genesia Ventures, and RDS.
Rey said that it will be launching a new suite of outpatient and inpatient products that has received approval from the Indonesian insurance regulator, Otoritas Jasa Keuangan (OJK).
The new products will enable Rey’s customers to personalise services with the level of coverage that best matches their needs.
Rey’s products are linked to the company’s proprietary cashless claims system, eliminating the tedious admission and discharging processes.
The claim system includes ReyCard, a debit card that enables Rey’s customers to make payments immediately at any healthcare provider of choice, even outside the traditional hospital network.
“Unlike most legacy insurers, Rey prioritizes outpatient products that are affordable and painless, complemented by our best value inpatient products, which all feature experience-centric care and wellness features into our end-to-end health solution.
We are grateful for the funding and expanded partnerships which support our mission to help improve health equity for all Indonesians while also shining a spotlight for other countries seeking to create a new paradigm for providing innovative insurance solutions for their population.”
said Evan Tanotogono, CEO and Co-founder of Rey.