Former Lazada Execs’ Insurance Marketplace Lifepal Acquired by Roojai
by Fintech News Indonesia January 16, 2024Thailand-based Roojai Group announced the acquisition of Lifepal, an Indonesian digital direct-to-consumer (D2C) insurance marketplace, according to a report by TechNode Global.
Lifepal was founded in 2019 by former Lazada executives Giacomo Ficari and Nicolo Robba, to offer over 300 policies across health, life, automotive, property, and travel.
The firm had raised an oversubscribed US$9 million Series A funding round in August 2021, bringing the total capital raised to US$12 million.
Lifepal, which reportedly has over 2 million unique monthly visitors, represents a strategic expansion for Roojai in the Indonesian market.
The acquisition is seen as a synergy between Roojai’s advanced underwriting technology and Lifepal’s extensive online distribution network with the aim to enhance the latter’s performance and broaden its insurance offerings.
Additionally, Lifepal’s insurance partners will gain from Roojai’s digital expertise in areas like car inspection and claim support.
According to the report, Roojai’s entry into the Indonesian market is expected to benefit Lifepal’s customers through “competitive pricing and superior customer experience”.
Despite the acquisition, Lifepal will maintain its operational independence within Roojai Indonesia. The company will continue providing online comparison services for car and health insurance.
Featured image credit: Edited from Freepik
