• Qoala

  Participated · Series A · Apr 2020

  Qoala is an insurtech platform that partners with local insurers and e-commerce firms to sell personalized, affordable insurance products—ranging from cars, motorcycles and property to personal accident, travel, health, phone-screen damage and ticket cancellation—via its website, app and offline agents. The company simplifies claims through image uploads and uses machine learning to detect fraud, and now handles up to 60% of claims internally. It leverages a large sales network (over 60,000 agents/marketers and more than 65,000 traditional offline agents reported) and is embedded in over 50 consumer-facing platforms and marketplaces. Qoala serves over 5 million customers, processed more than 115,000 claims and added 45,000 new users last year; gross written premiums have surged roughly 2.5x since 2022 and grew over 15x from 2020 to 2023. The startup operates in Indonesia, Malaysia, Thailand and Vietnam and is headquartered in Jakarta. Qoala plans to deploy new capital toward strategic acquisitions and partnerships and to "sprinkle" AI across its channels to drive further product and operational improvements. Qoala offers retail insurance products — including house, health, and car coverage — and microinsurance through partnerships with platforms like Traveloka, Shopee, Dana, JD.ID, Redbus, Kredivo and Investree. The company distributes policies via an omnichannel platform and a network of 75 insurers and 60,000 brokers, serving about 8 million customers. Qoala operates in Indonesia and also runs in Thailand and Malaysia. It has paid nearly $30 million in claims to date. The firm reports a positive contribution margin in Thailand and Indonesia and expects to reach profitability within three years. In 2021 Qoala acquired Thai startup FairDee and says it is prioritizing unit economics over near-term aggressive market expansion given the current economic climate. Qoala is an Indonesia-based insurtech startup. Regulatory filings show the company secured an additional $5.42 million as an extension to its Series B round. The article provides no details on the participating investors, valuation, use of proceeds, product specifics, or operating metrics. It also does not mention prior funding rounds or the company's founding year. Coverage focused solely on the regulatory filing disclosing the Series B extension. Qoala is a technology-focused insurtech that aims to socialize insurance through product development and machine learning–based claim processes. The company operates in Indonesia, Malaysia and Thailand, offering health, motor vehicle, property, personal accident and other protections via its app and website. Qoala supports distribution through a platform used by over 50,000 insurance marketers and integrates with more than 50 insurers to manage pre-sale and post-sale services. It also supplies micro-insurance products through partnerships with Traveloka, Redbus, DANA, JD.ID, Shopee, Kredivo and Investree. Led by CEO Harshet Lunani and COO Tommy Martin, the company plans to use new funding to accelerate business growth and expand operations. The business recently raised capital to support that expansion. Qoala is a Jakarta-based, one-year-old startup that offers personalized, small-ticket insurance products through partnerships with insurers and e-commerce and travel platforms. Its product lineup includes coverage for phone display damage, e-commerce logistics and hotel-quality checks, and customers can upload pictures to simplify claims. Qoala uses machine learning to detect fraudulent claims and improve underwriting. The company processes more than 2 million policies each month, up from 7,000 in March of the prior year, and employs about 150 people with plans to double headcount in a year. Qoala maintains partnerships with insurers such as AXA Mandiri, Tokio Marine and Great Eastern and distribution partners including Grabkios, JD.ID, Shopee, Tokopedia, PegiPegi and RedBus. The startup says it is working on expanding its product set to include health and peer-to-peer insurance categories. Its distribution- and ML-driven approach aims to make insurance more accessible and affordable for Indonesian consumers.

No current team members are available.