Vouch Insurtech Launches FairDee

Singapore-based Vouch Insurtech is live in Thailand with the launch of FairDee, a digital insurance platform offering car insurance with a cashback scheme.

FairDee aims to promote safer driving and reduce fraudulent claims by giving up to 30% on annual premiums back to consumers who do not make any claims within a policy year. Customers get 15% cashback of their annual premium if they themselves do not claim and an additional 15% if their group does not submit a claim. Customers can join groups of 4-7 people by either starting a new group, or joining an existing one via an invite. FairDee works with six insurers: Bangkok Insurance, Dhipaya Insurance, MSIG Insurance, Thaivivat Insurance, Thanachart Insurance, Tokio Marine Insurance as well as one leading broker, Maxi Insurance Broker.

“FairDee’s insurance innovation is a great channel to promote a safe-driving culture in Thailand. The rate of car accidents directly affects car insurance premiums. Therefore, safer roads would result in affordable premiums. I am delighted to see young professionals coming into the industry and creating an innovation which benefits both insurers and customers.” – President of Thai General Insurance Association, Jiraphant Asavatanakul.

Founded in 2016, Vouch Insurtech has raised around $750k in funding and is led by Yujun Chean and Thanasak Hoontrakul.