InsureMO has entered an alliance with MoneyHero, aiming to bolster digital insurance aggregation and comparison in greater South East Asia.
The collaboration integrates InsureMO’s middleware platform into MoneyHero’s ecosystem, allowing consumers to discover, compare and purchase insurance policies tailored to their needs.
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MoneyHero, which offers personal finance and insurance aggregation services, operates across Singapore, Hong Kong SAR, the Taiwan region, the Philippines and Malaysia.
The partnership is expected to bolster MoneyHero’s position as a digital insurance aggregator in the region.
InsureMO’s platform is designed to assist businesses in creating, connecting and innovating within the insurance and protection product space.
The insurtech company processes more than $25bn in gross written premiums annually through its cloud platform.
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By GlobalDataInsureMO CRO Rajat Sharma said: “MoneyHero stands as the trusted beacon for consumers navigating their personal insurance journeys in South East Asia. We are thrilled to bring our InsureMO technology to enrich the MoneyHero ecosystem and look forward to setting new benchmarks for the 3Vs (volume, variation, and velocity) of digital business across the globe.”
MoneyHero Group CEO Rohith Murthy said: “Our strategy, favouring ‘buying over building’ the cutting-edge technology solutions to enhance our platform, accelerates our market entry and organisational learning.
“This approach has significantly contributed to the success of our end-to-end journeys. We are not just changing how insurance is bought and sold; we are redefining the customer experience altogether.”
Last month, InsureMO formed a partnership with software company Newgen.
The partnership combined Newgen’s specialised underwriting and policy administration solutions with InsureMO’s advanced insurance platform, promising end-to-end automation and AI-led underwriting.
In September 2023, Oona Insurance partnered with InsureMO to drive digital transformation within the South East Asia insurance sector.
