The new funding will be focused on expansion efforts and growing iSTOX’s investment offerings. Singapore-headquartered digital securities platform iSTOX has closed its Series A fundraise at US$50 million, the company announced in a statement yesterday. With the close, the company welcomes four [...]
Providing the first Simple Insurance Solution for Domestic Helpers in Hong Kong
Hong Kong, 30 September 2020 – InsurTech start-up Wesurance Limited offers the first Personal Accident Insurance for Indonesian Domestic helpers in Hong Kong named Sehati. Sehati is offered through the GoLion Transformation Ecosystem (GTE) service with the help and support of Telin Hong Kong and Allied World Insurance. Sehati is the first Personal Accident Insurance for Indonesian Domestic Helpers in Hong Kong that allows them to be the policyholder themselves and allow them to choose their family member to be the beneficiary.
Telin Hong Kong has been promising to serve Indonesians in Hong Kong with the best communication services in the market and their customer-focused approach aligns well with Wesurance’s core value in providing the best user experience. Subsequently, Allied World Insurance has a solid essence for innovation and has been supporting the InsurTech movement. Hence, this collaboration among Allied World Insurance, Wesurance and Telin create perfect synergy in providing innovative and accessible insurance products for the Indonesians domestic helpers in Hong Kong.
The GTE utilised an API system to integrate the Sehati Personal Accident Insurance to Telin’s existing platforms, this integration is done to provide a seamless insurance ecosystem for Telin’s end users. The GTE API allows a safe connection to be established between Telin and Allied World Insurance, which allow users to complete the whole purchasing process, including the issuance of the insurance policy on Telin’s platform. On top of that, users may manage and claim their insurance policy from the same entrance point, this is done to maximise user experience and simplify the whole insurance management process. Users may access Sehati through the Telin As2in1 mobile application; under the “Perlindungan Anda” (Your Protection in Bahasa Indonesia) option, Telin’s UMB SMS feature or by scanning the QR code in the posters.
Sehati sets a new milestone in the insurance industry. Existing policies in the market offer very limited ownership for the domestic helpers, with their employers set as the legal policyholder and sole beneficiary of the policy. There have never been any policies like Sehati that caters specifically at the benefit of the domestic helper. The Sehati Personal Accident Insurance sets itself apart in the market and gives a chance for domestic helpers to be in control of their own insurance policy.
Telin Hong Kong Chief Executive Officer, Indarto Nata said:
“The mission is to help our customer obtain insurance in ease and convenience, thus this cooperation with Wesurance will bring benefits to our customer as they and their families in Indonesia will be protected. In addition of expanding insurance coverage from the existing compulsory Indonesia Government’s insurance (BPJS) and standard insurance medical coverage in Hong Kong, we believe Sehati Insurance will be providing a good peace of mind to Indonesian Migrant Workers.”
Allied World Insurance Senior Underwriter, Yu Wu said:
“As we all know domestic helpers are one of the major labour force in Hong Kong, but their financial protection is very limited and it is very difficult for them to get insurance in Hong Kong. With the launch of Sehati, we hope that more domestic helpers would be protected and also increase their awareness of their financial protection. We are honoured to be working with Telin and Wesurance Group through the launch of Sehati.”
Wesurance Group Chief Executive Officer, Eddie Chang said:
“Indonesian domestic helpers have very limited protection and major insurance companies in Hong Kong does not provide insurance to these group of people, but that doesn’t mean they don’t need it. So we are really pleased and honoured to work with Telin, as this would make us one step closer.”