Qoala
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Qoala is an insurtech (Insurance technology)[1] Startup company under the legal name of PT Archor Teknologi Indonesia. It is the biggest omnichannel insurtech company in Southeast Asia, with a purpose to democratize, empower, and redefine insurance for customers. With its technology, Qoala makes insurance more accessible to everyone[2], both simpler and at a more affordable price.[3]
Company History[edit]
Founded in Jakarta, Indonesia, in 2018 by Harshet Lunani (founder/CEO) and Tommy Martin (co-founder/COO), Qoala provides innovation through an end-to-end digital insurance platform, starting from product distribution to claims process from users.[4]
Technology[edit]
Qoala offers a technology-based application that allows users to compare insurance products, get transparent information, and make convenient online purchases. Qoala provides innovative products from trusted insurance partners and distributes them to customers with technological capabilities, such as OCR (optical character recognition), a straightforward and concise automated claim process, easy and reliable payment handling, data analysis, and dynamic pricing models.[5]
Insurance Products[edit]
Qoala offers various insurance products, such as smartphone insurance, car insurance, motorcycle insurance, health insurance, hospital cash plan (HCP), life insurance, tropical disease insurance, and travel insurance.[6]
Business Units[edit]
Qoala currently operates in three business channels. First, partnerships with various brands and corporations.[7] Second, Qoala.app, an insurance marketplace to help find the best insurance that meets customer needs and budgets. Third, QoalaPlus[8], which has grown to become the largest insurance network in Indonesia with more than 5000 partners who help people to earn additional income and provide the best service for their customers.
Insurance Partners[edit]
There have been more than 20 leading insurance companies in Indonesia that have become Qoala's insurance partners, such as Adira Insurance (Asuransi Adira Dinamika), Adira Insurance Syariah, Asuransi Multi Artha Guna, Tbk (MAG), Malacca Trust Wuwungan Insurance, Avrist, Lippo General Insurance (Lippo Life Insurance), Asuransi Simas Jiwa, Asuransi Simasnet (Simas Insurtech), AXA Mandiri, Great Eastern Life[9], MNC Insurance, Asuransi ABDA, Sompo Insurance Indonesia, Takaful Umum, Intra Asia Insurance, FPG Indonesia Insurance, Tugu Insurance, Asuransi Reliance Indonesia, Asuransi Bintang, Tbk, Mega Pratama General Insurance, Asuransi Total Bersama, Central Asia Insurance, Asuransi Jasindo, and many more.
Corporate Partners[edit]
Qoala has also partnered with various leading brands in Indonesia, such as Digimap, GrabKios, Grab (company), OVO (payment service), PegiPegi, JD, Tokopedia, OYO, Uangme, Investree, Akseleran, MySmartfren, Alodokter, Style Theory, and others[10]. Qoala also collaborates with imoo Indonesia during the pandemic[11]. With this collaboration, buyers will get COVID-19 insurance protection for every imoo watch phone transaction.[12]
Investors[edit]
To support its business development, Qoala gets funding from several prominent investors[13], both from within and outside the country[14], such as Sequoia India, Sequoia Capital's Surge, MassMutual Ventures Southeast Asia, Central Capital Ventures from Bank Central Asia, MDI Ventures from Telkom Indonesia, SeedPlus, Genesia Ventures, Surge[15], KB Kookmin Bank, Flourish Ventures[16], Mirae Asset Venture Capital, and Mirae Asset Securities[17]. In April 2020, Qoala again received Series A funding of US$13.5 million[18] or equivalent to 209 billion Rupiah[19]. Qoala has also spread its wings to other Southeast Asia countries, such as Malaysia, Vietnam, and Thailand.[20]
Achievements[edit]
Qoala participated in the Shinhan Future's Lab Indonesia Acceleration Program[21] and passed the selection to participate in a series of activities, including networking activities with the Shinhan Financial Group partner channels and mentoring with several experts from various fields.[22]
Social Activities[edit]
In 2020, Qoala held the "Qoala Berbagi" program by donating Qurbani to Masjid Jami Babussalam in Setiabudi, South Jakarta, on the moment of Eid al-Adha as a form of care and togetherness towards the surrounding community whose economic conditions were affected by the pandemic.[23]
Legality[edit]
Qoala is supported by PT Mitra Jasa Pratama[24], an insurance broker registered and supervised by the Indonesia Financial Services Authority Otoritas Jasa Keuangan (OJK) with registration number KEP-7767/MD/1986. It includes the online and offline channels collaboration with PT Mitra Jasa Pratama as the credible intermediary broker and Qoala as the technology provider. Qoala has also been registered in the insurance technology (insurtech) cluster with the provisions as a Digital Financial Innovation Provider and Prototype Regulatory Sandbox based on the Cluster Determination Letter number S-132/MS.72/2020 issued directly by the Indonesia Financial Services Authority (OJK).[25]
References[edit]
- ↑ "Qoala". id.techinasia.com. Retrieved 2020-09-16.
- ↑ "Ada Qoala.app, beli asuransi digital di Qoala Insurtech jadi lebih mudah". keuangan.kontan.co.id (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Qoala – Startup Asuransi Mikro Berbasis Computer Vision di Indonesia". id.techinasia.com (in Bahasa Indonesia). Retrieved 2020-09-15.
- ↑ "Inovasi Produk Asuransi dengan Mengandalkan Teknologi". diskominfo.mojokertokab.go.id (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Asuransi Digital Permudah Masyarakat". kurio.id (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Qoala Tawarkan Proteksi Saat Covid". topbusiness.id (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Indonesian Insurtech Startup Qoala Raises US$13.5M In Series A Funding Round". jumpstartmag.com. Retrieved 2020-09-16.
- ↑ "Qoala Luncurkan Aplikasi Permudah Masyarakat Dapat Layanan Asuransi". merdeka.com (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Great Eastern Life Indonesia Luncurkan Kampanye #SiapJalaniHidup". greateasternlife.com (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Menilik Laju Bisnis InsurTech Qoala". cnbcindonesia.com. Retrieved 2020-09-15.
- ↑ "Gandeng imoo, Qoala tawarkan asuransi Covid-19 untuk anak". keuangan.kontan.co.id (in Bahasa Indonesia). Retrieved 2020-09-15.
- ↑ "Qoala X imoo Lindungi Anak Indonesia dengan Asuransi Covid-19". wartaekonomi.co.id (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Insurance start-up Qoala gets $13.5 million investment". thejakartapost.com. Retrieved 2020-09-15.
- ↑ "Qoala". crunchbase.com. Retrieved 2020-09-16.
- ↑ "Qoala". surgeahead.com. Retrieved 2020-09-15.
- ↑ "Why We Invested: Qoala". flourishventures.com. Retrieved 2020-09-15.
- ↑ "Insurtech Startup Qoala Raih Pendanaan Seri A". liputan6.com (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Qoala raises $13.5M to grow its insurance platform in Indonesia". techcrunch.com. Retrieved 2020-09-15.
- ↑ "Startup Insuretech Qoala Kantongi Pendanaan Rp209 Miliar". republika.co.id (in Bahasa Indonesia). Retrieved 2020-09-15.
- ↑ "Insurtech Picking up Steam in Asia". fintechnews.sg. Retrieved 2020-09-15.
- ↑ "4 Startup Ikuti 2nd Batch Program Akselerasi Shinhan Future's Lab Indonesia". rctiplus.com (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "4 Startup Ikuti 2nd Batch Program Akselerasi Shinhan Future's Lab Indonesia". investor.id (in Bahasa Indonesia). Retrieved 2020-09-15.
- ↑ "Wujudkan Kepedulian Ekonomi di Lingkungan Sekitar, Qoala Berbagi Kurban". ekbis.sindonews.com (in Bahasa Indonesia). Retrieved 2020-09-15.
- ↑ "Qoala". duniafintech.com (in Bahasa Indonesia). Retrieved 2020-09-16.
- ↑ "Mengenal Qoala, fintech pelayanan klaim asuransi di sandbox regulatory OJK". keuangan.kontan.co.id (in Bahasa Indonesia). Retrieved 2020-09-15.
External Links[edit]
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.qoala .app - Script error: The function "in_lang" does not exist. www
.qoalaplus .com
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