Based by two insurance coverage trade veterans, Eazy Digital needs to present small insurance coverage corporations in Southeast Asia the identical benefit as their bigger opponents. Its SaaS platform lets insurers digitize many components of their operations, enabling them to scale up extra effectively.
The Bangkok-based startup introduced at the moment it has raised $850,000 in an oversubscribed seed spherical led by Wavemaker Companions, with participation from Seedstars Worldwide Ventures, Wing Vasiksiri and Sasin Bangkok Enterprise Membership.
Eazy Digital was based final yr by Haprem Doowa and Maethavee Sukul. Doowa was beforehand co-founder and CEO of Frank Insurance coverage, a web based digital dealer in Thailand that was acquired by Bolttech in 2021. Sukul was head of operations at Frank, Bolttech Insurance coverage Dealer and digital medical insurance dealer Benix.
Doowa informed TechCrunch that whereas working collectively at Frank, he and Sukul “each realized that the insurance coverage trade was plagued with guide work and fast home-built options.” Many insurance coverage corporations in Thailand handle their brokers utilizing a mix of Excel, Line chats and telephone calls.
Whereas bigger insurance coverage corporations have the cash and workforce members to construct their very own software program, their smaller opponents, which Doowa mentioned make up over 90% of insurance coverage corporations, wrestle to digitize their operations. Eazy Digital’s objective is to present them a platform that’s inexpensive and helps resolve their scalability points. It permits insurers to handle brokers, operations, consumer referrals and engagement.
Eazy Digital’s opponents embrace eBao, Appman and ZA Tech, which additionally construct software program for insurers. Doowa mentioned Eazy Digital differentiates by specializing in distribution and the effectivity of company gross sales and buyer referrals. “Each are revenue-earning for the businesses which makes it simpler for insurance coverage corporations to say sure to working with us,” he added.
The startup’s new funding will likely be used for advertising and marketing, hiring and product improvement with an eye fixed on increasing to different Southeast Asian markets.