Malaysia-Based Insurance Startup PolicyStreet Raises ~$500K
Malaysia-based insurance intermediary PolicyStreet announced that it has raised ~$500,000 in a seed round led by KK Fund . Founded in January 2017 as a content aggregator company, it is now looking to sell insurance polices including life, disability, auto, and home insurance; to name a few. In ‘life’ it has a partnership in place with U For Life, an online platform for term life insurance underwritten by Tokio Marine Life Insurance. BTW, U For Life is part owned by Hannover Re (60%) and part owned by Intelligent Life (40%). This is U:
“We believe insurance is a prerequisite in all stages of life and we take pride in being present in our customer’s life journey. We do this by hand-picking relevant bite- sized products and curating new ones because we believe existing products are just not enough to meet the different needs of consumers” – cofounder and CEO Lee Yen Ming. Recall 2017 insurance-related investments here.