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Tag: ZA Tech

  • ZA Tech Opens Fintech Center in Singapore

    ZA Tech Opens Fintech Center in Singapore

    The Singapore-based center aims to explore financial services innovation and help industry partners in the region to build new products that will accelerate their digital ambitions.

    ZA Tech Global has opened its first Asia Fintech Center (AFC), which will specialize in solving specific use-cases in insurance and financial services in collaboration with industry partners, according to an announcement by the Chinese firm, which provides proprietary insurtech capabilities and applications

    The center will have an initial focus on insurance use-cases by co-designing innovative propositions with insurers in ASEAN, the announcement said. It will also partner with local universities to develop further fintech expertise and talent.

    The internet economy continues to rapidly reshape consumer expectations across Asia, digital transformation is becoming as crucial as ever for financial services firms, Bill Song, CEO of ZA Tech, said, adding that the AFC is an important pillar of its regional ambitions.

    George Kesselman, ZA Tech’s head of commercial, will take on the additional responsibility as a leader of the AFC.

    ZA Tech Global is the business entity established by ZhongAn Technologies International, the international arm of Chinese online insurer ZhongAn Online P&C Insurance.

    The company previously inked micro-insurance partnerships with Grab and NTUC Income in Singapore, Ovo in Indonesia, and regionally with AIA

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  • ZA Tech Partners to Launch Insurtech in Indonesia

    ZA Tech Partners to Launch Insurtech in Indonesia

    Chinese firm ZA Tech Global is partnering Indonesian payments giant Ovo to offer Indonesian insurance companies access to its proprietary insurtech capabilities and applications.

    BCP, the holding company of Indonesia’s leading e-wallet Ovo, and ZA Tech Global, a technology venture for overseas markets of ZhongAn Online P&C Insurance, have announced a strategic joint venture to create an insurtech platform in Indonesia, towards fast-tracking digitalization of Indonesia’s insurance industry and improving financial inclusion.

    The joint venture will help Indonesian insurance companies rapidly digitize their products and offer fractionalized digital insurance products to the masses, in turn driving and improving financial inclusion in Indonesia’s vastly underserved market, the announcement said.

    The announcment noted that only 1.7 percent of Indonesia’s population of 265 million are currently covered by private insurance. It is also the fastest-growing market in Southeast Asia, with economic growth averaging over 5 percent in the past three years.

    The low awareness of the benefits and role of insurance as a tool for protection, savings and wealth creation in Indonesia is something we seek to address. The current pandemic has further highlighted the need for insurance to safeguard people’s health and welfare,» Bill Song, CEO of ZA Tech, said.

    ZA Tech Global previously inked micro-insurance partnerships with Grab and NTUC Income in Singapore, and regionally with AIA.

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