Indonesian insurtech Rey Assurance introduced that it has secured US$4.2 million in seed funding to advance its digital well being merchandise and expertise platform.
The funding spherical was joined by Trans-Pacific Know-how Fund (TPTF), Genesia Ventures, and RDS.
Rey mentioned that it will likely be launching a brand new suite of outpatient and inpatient merchandise that has obtained approval from the Indonesian insurance coverage regulator, Otoritas Jasa Keuangan (OJK).
The brand new merchandise will allow Rey’s prospects to personalise companies with the extent of protection that finest matches their wants.
Rey’s merchandise are linked to the corporate’s proprietary cashless claims system, eliminating the tedious admission and discharging processes.
The declare system contains ReyCard, a debit card that permits Rey’s prospects to make funds instantly at any healthcare supplier of alternative, even outdoors the normal hospital community.
“Not like most legacy insurers, Rey prioritizes outpatient merchandise which might be inexpensive and painless, complemented by our greatest worth inpatient merchandise, which all characteristic experience-centric care and wellness options into our end-to-end well being resolution.
We’re grateful for the funding and expanded partnerships which assist our mission to assist enhance well being fairness for all Indonesians whereas additionally shining a highlight for different international locations searching for to create a brand new paradigm for offering progressive insurance coverage options for his or her inhabitants.”
mentioned Evan Tanotogono, CEO and Co-founder of Rey.