Monday, 30 June 2025
29.3 C
Singapore
32.2 C
Thailand
20.6 C
Indonesia
28.5 C
Philippines

InsurTech startup, Sunday, raises Series A led by Vertex Ventures Southeast Asia and India

Thailand-based insurtech firm, Sunday, has secured US$10 million funding in a round led by Vertex Ventures Southeast Asia and India to expand its data team and conduct research and development. Beyond that, Sunday also provided equity to an insurance group, which in return, provides the use of its general insurance license to transform the startup […]

Thailand-based insurtech firm, Sunday, has secured US$10 million funding in a round led by Vertex Ventures Southeast Asia and India to expand its data team and conduct research and development. Beyond that, Sunday also provided equity to an insurance group, which in return, provides the use of its general insurance license to transform the startup into a full-blown insurance company.

Disrupting the rapid evolving insurance landscape is no easy task, but the investors behind Sunday believe that the company has the right model and potential for massive growth in Southeast Asia.

Sunday is a multi-line insurtech with a fully-integrated sales and services platforms designed to reinvent the entire insurance value chain, where the nature of risk is rapidly shifting under an increasingly digital economy. Its integrated technology platform offers customizable non-life insurance products through a risk-prediction model driven by Artificial Intelligence (AI) and machine learning for feature engineering and more accurate risk-pricing in real time. The platform also enables a more seamless claims experience, where payout can be carried out efficiently. On top of its platform, the startup also provides employee health benefits and claims management solutions for small and medium enterprises (SME).

The company argues that incumbent insurers currently act only as risk aggregators with very limited understanding of capabilities to meet customers’ needs. With data and technology, Sunday aims to disrupt insurance to meet these demands, so that insurance can be made affordable and available anytime, anywhere.

With the newly acquired funding, the company plans to expand to key Southeast Asian markets, including Singapore, Malaysia, and Indonesia.

“If e-commerce can provide dynamic pricing, then a digital insurer like Sunday can provide personalized premium pricing depending on insights into consumers’ behavior and needs,”

Chua Kee Lock, managing partner of Vertex Ventures Southeast Asia and India

Hot this week

NetApp report reveals global race for AI leadership remains wide open

NetApp’s AI Space Race report shows global competition is heating up, with no clear leader as countries race to scale secure AI infrastructure.

Thales enhances Imperva Application Security with new API threat detection and response capabilities

Thales updates Imperva Application Security with real-time API threat detection and response, tackling BOLA and business logic risks.

Lenovo unveils new hybrid AI services and platforms to accelerate enterprise transformation

Lenovo expands its Hybrid AI Advantage with new services, solutions, and platforms to help enterprises scale and operationalise AI.

Samsung’s July Unpacked event promises new foldable ‘Ultra’ reveal

Samsung’s Unpacked event is set for July 9, and a foldable ‘Ultra’ reveal is expected; reserve now for US$50 credit on Samsung.com.

OIDIRE ODI-XDG10 Portable Baby Bottle Steriliser review: Compact, travel-friendly UV steriliser for modern parents

Compact and stylish, the OIDIRE ODI-XDG10 UV steriliser is a travel-friendly pick for modern parents who want clean bottles without the bulk.

Cheapest SIM-only plans in Singapore 2025: Flexible, contract-free mobile data

Compare the cheapest SIM-only plans in Singapore for 2025, with up to 1TB data, 5G access, roaming, and no-contract options from S$8/month.

Android 16 to alert you if your phone connects to a fake cell tower

Android 16 will warn you if your phone connects to a fake tower, helping protect your calls, texts, and location from silent spying.

Runway moves into gaming with new AI platform Game Worlds

Runway launches Game Worlds, an AI platform aiming to reshape game creation and expand its success from film into the gaming industry.

TikTok trials new ‘bulletin boards’ to rival Instagram’s broadcast channels

TikTok is testing bulletin boards, a new feature similar to Instagram's broadcast channels, for direct creator-to-fan updates.

Related Articles

Popular Categories