Founded by two insurance industry veterans, Eazy Digital aims to give small Southeast Asian insurers the same advantages as their larger competitors. Insurance companies can scale more effectively and digitise many aspects of their business thanks to SaaS platforms.
The business from Bangkok revealed today that it has raised $850,000 in a seed round, which was led by Wavemaker Partners and included Seedstars International Ventures, Wing Vasiksiri, and Sashin Bangkok Venture Club.
Last year, Haprem Doowa and Maethavee Sukul created Eazy Digital. Previously, Doowa served as co-founder and CEO of Frank Insurance, a Thai online digital broker that Bolttech purchased in 2021. Sukul managed operations at Benix, Bolttech Insurance Broker, and Frank Insurance Broker.
Asia's digital insurance path needs hybrid approach #digital #insurance #Asia #insurtech https://t.co/1Wcvcec2WI
— InsuranceAsia News (@InsuranceAN) December 15, 2022
Doowa told TechCrunch that while working at Frank, he and Sukul “realized that the insurance industry was plagued by manual labor and homegrown quick fixes.” Many Thai insurance companies use a combination of Excel, line chat, and phone to manage their agents.
Large insurers have the funds and team members to develop their software, while smaller competitors, who make up more than 90% of their insurers, struggle to digitize their operations.The objective of Eazy Digital is to offer a cost-effective platform that aids in resolving scalability issues. Agents, operations, user recommendations, and engagements can all be managed by insurers.
Eazy Digital’s competitors include eBao, Appman, and ZA Tech, which develop software for insurance companies. According to Doowa, what sets Eazy Digital apart is its focus on efficiency and distribution of agency sales and customer referrals. “Both bring revenue to the business and make it easier for insurers to say yes to working with us,” he added.
