Fatfish acquires 65% of Indonesian auto insurance portal RajaPremi

RajaPremi aims to offer Indonesian car and motorbike owners instant insurance quotes from up to eight insurers. It claims to be the only comparison site in the market to provide actual price quotes rather than estimates.

The site holds statistics for providers such as MNC Insurance, Zurich, and ACA Asuransi. The website, however, is currently in its beta stage and the business only recently started marketing.

"We like the sector and this is a company we want to build up together with the founders on our co-entrepreneurship model," Lau Kin Wai, a partner with Fatfish, told Tech in Asia. "So we would want a majority stake at the early stage in order for us to treat it like a subsidiary that we can lend our full resources to."

The Indonesian car insurance market in presents a significant growth opportunity in country where, according to a report by Ernst & Young, there are over 11 million registered passenger vehicles but car insurance penetration is just 0.5%.

Set up in 2011, Fatfish is a regional VC investor run by serial entrepreneurs focusing on the major economies of Southeast Asia, such as Singapore, Malaysia, Indonesia and Thailand. Earlier this month the group took a 15% stake in Singaporean fashion e-store Dressable.

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• Topics
• Southeast Asia
• Venture
• Financials
• Indonesia
• Venture
• insurance
• automobiles