Bolttech has agreed to sell FWD General Insurance Public Company Limited to Roojai, an online insurance provider in Thailand.
With a combined portfolio of more than $50 million in annual premium, Roojai will significantly increase its market share in Thailand as a result of this acquisition, and it will also turn into a fully digital insurance company with the authority to underwrite general insurance products, the company said in a statement.
Upon acquisition, FWD General Insurance will change its name and brand to Roojai, pending regulatory approval.
There will be no changes to any current claims procedures, policies, or customer services as a result of the acquisition.
With its 2016 launch, Roojai has created cutting-edge technological solutions to make insurance straightforward, reasonably priced, and dependable.
With its insurance partners, Thai insurtech sells auto, accident, and health insurance products, and it currently has a portfolio of over 160,000 clients.
“Since 2016, the goal of Roojai has been to build products and manage the full insurance journey with the customer’s convenience in mind,
“We want customers to be able to choose to buy only what they need, offer affordable premiums, and provide great customer service and claim experience,” said Nicolas Faquet, Founder and Group Chief Executive Officer of Roojai.
According to him, the company will vertically integrate upwards as a result of this acquisition, realizing its goal of developing into a full-stack digital insurance company that can optimize the entire insurance journey.
“This important step will facilitate further product and process innovations for the benefit of our customers,” he added.
