South-East Asian financial technology startup Jirnexu has said that insurance will account for up to 30% of its total growth in the coming years. The forecast is based on the increasing applications for insurance products on RinggitPlus.com, Jirnexu’s financial comparison site in Malaysia. The firm also operates KreditGoGo in Indonesia. Its director for Insurance, Lucas Ooi, said the startup wants to work with at least 50% of the insurance market, including life, general and takaful, by 2019. It would also continue to work closely with Malaysia’s central bank, Bank Negara Malaysia, and insurers to offer more products soon, he said. The company was approved to compare, sell, process payments and issue e-policies for insurance products, and would be the first company in Malaysia permitted to sell general and life insurance products from multiple providers, said Ooi. He added that it would also be the first to build a dedicated e-commerce marketplace for insurance.
Southeast Asian fintech start-up Jirnexu expects insurance to account for almost a third of growth, based on a rising number of insurance apps on its RinggitPlus.com financial comparison site. The company hopes to become the first in Malaysia to sell general and life policies from multiple firms, Director for Insurance Lucas Ooi said, as part of its plan to work within at least half of the insurance market by the coming years.