Rey Assurance, an Indonesian insurtech startup, has raised $1 million in funding from the Trans-Pacific Technology Fund to enhance its unique health insurance offerings, featuring a wellness ecosystem and AI-driven services.

Target Information

Rey Assurance, an Indonesia-based insurtech startup, is revolutionizing the health insurance landscape with a comprehensive approach that extends beyond conventional policies. Co-founded by Evan Tanotogono, a former head of digital channels at Sequis, and Bobby Siagian, who has significant engineering experience from major companies such as Tokopedia and Sea Group, Rey Assurance aims to address the systemic issues that have historically plagued the Indonesian insurance sector. With support from veteran insurance executive David Nugrho, Rey seeks to enhance customer experience through its innovative platform, which offers AI-driven self-assessment tools, 24/7 telemedicine consultations at no additional cost, and efficient pharmacy delivery services.

Launched in 2021, Rey Assurance has already secured $1 million in pre-seed funding from the Trans-Pacific Technology Fund (TPTF). The startup's funding will enable it to build its wellness ecosystem and enhance customer engagement, offering plans starting at approximately $4 USD per month tailored for individuals, families, and small businesses.

Industry Overview in Indonesia

The insurance industry in Indonesia has historically faced challenges such as low penetration rates and a lack of consumer awareness regarding the importance of life and health insurance. The existing landscape is characterized by high premiums and