ZA Tech, the technology venture founded by ZhongAn Online and backed by Softbank’s Vision Fund, has partnered with PFI Mega Life (PML), Prudential Financial Inc’s joint venture in Indonesia to promote financial inclusion in Southeast Asia.

ZA Tech will leverage its business know-how and its proprietary core insurance system named Graphene, to help PFI Mega Life create a seamless digital experience for its customers and ecosystem partners.

This will enable PFI Mega Life to create instant and affordable protection that can be tailor-made for each customer and ecosystem partner.

Additionally, ZA Tech will also join forces with PFI Mega Life to co-create insurance products and digital solutions that are designed to protect and fulfill the needs of Indonesian audience.

Previously, ZA Tech has set up a joint venture with Indonesian e-wallet OVO, aiming to offer Indonesian insurers easy and secure access to its proprietary insurtech capabilities and applications.

Bill Song, CEO of ZA Tech said,

“As we are creating synergy with PML, we are also transforming the insurance industry and building a digital future for the Indonesian customers together. Our technology significantly enhances automation and operational efficiency, providing flexibility to insurance partners to pass down the savings to consumers.

 

As such, partners are able to deliver both savings as well as enhanced services to wider segments of population. The critical illness product is a strong example of ZA Tech’s effort to develop innovate insurance products with partners.”

Samdarshi Sumit, CEO and President Director of PML said,

“We are exceptionally excited to partner with ZA Tech with whom we can now accelerate our time to market and create digital solutions that are both meaningful and efficient.

 

Our joint collaboration with Grab Indonesia and ZA Tech is a true testament to PML’s commitment to Indonesians’ yet keeping in mind the changing needs specifically around digital consumption.”

Featured image credit: Edited from Unsplash