Thai insurtech acquires DirectAsia

DirectAsia will rebrand to Roojai Thailand.

Roojai, Thailand-based online insurance company, is expanding its reach by acquiring DirectAsia, positioning itself as the largest Direct Insurance group in Southeast Asia.

The insurtech said the acquisition from Hiscox will significantly boost Roojai's market share, with a combined portfolio of over 400,000 insured vehicles across three countries and 300,000 individuals protected by Accident and Health products.

As part of the deal, DirectAsia Thailand will be rebranded as Roojai Thailand, while DirectAsia Singapore will retain its original brand. Importantly, the acquisition will not impact existing policies, claims processes, or customer service.

ALSO READ: More than half of Thai policyholders willing to share more information for personalised insurance coverage: Survey

With this acquisition, Roojai's operations will expand to include Thailand, Singapore, and Indonesia.

The completion of this transaction is subject to standard conditions and regulatory approvals and is anticipated to be finalized by the end of 2023.

Also Read

Philippine life insurance sector slated for 5.4% CAGR by 2028

Property insurance industry to exceed $152b by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit