Rey Assurance, a Jakarta, Indonesia-based integrated health, life and critical illness insurtech company, raised $4.2M in seed funding.
Backers included the Trans-Pacific Technology Fund (TPTF), Genesia Ventures, and RDS.
The company intends to use the funds to advance its digital health products and technology platform.
Led by Evan Tanotogono, CEO and Co-Founder, Rey is a technology platform including AI, big data analytics, and cashless claim payments – with its proprietary health, life and critical illness insurance policies bundled into subscription-based offers for individuals and groups. The company integrates technologies into its insurance offerings, coupled with its health and wellness ecosystem, via strategic partners encompassing such areas as pharmacy, telemedicine, and cashless payment to provide the most holistic insurance offerings in Indonesia designed to improve the wellbeing of its individual and group members throughout all stages of life.
Rey is also launching a new suite of outpatient and inpatient products that have received approval from the Indonesian insurance regulator, Otoritas Jasa Keuangan (OJK). The new products enable members to personalize services with the level of cover that best matches their needs. Rey’s products are linked to the company’s proprietary cashless claims system, eliminating the admission and discharging process at all healthcare providers. The claim system includes ReyCard, a debit card that enables members to make payment simply and immediately at any healthcare provider of choice, even outside the traditional hospital network.
In addition to Evan Tanotogono, other co-founders include:
- David Nugroho, Chief Business Officer: David is a 25+-year insurance industry veteran who most recently served as Chief Digital Partnership Officer at Prudential.
- Bobby Siagian, Chief Technology Officer: Bobby has over 10+ years of experience, having worked as a senior technology leader for over 10 years at IBM, Sea, and recently Tokopedia.
- Rosi Setyo Nugroho, Vice President of Product: A licensed pharmacist and with a Master’s degree from New York University Robert F. Wagner Graduate School in Health Policy & Management, Rosi has ~10 years’ healthcare experience including playing a critical role in building a digital primary care system that is used by one of the largest managed care insurers in Indonesia.
FinSMEs
06/07/2022