Leadership position in cyber risk and healthcare propositions leading to strong growth for InsureComFree as shared in a recent investors’conference.
KUALA LUMPUR, MALAYSIA, January 14, 2023 /EINPresswire.com/ — Malaysian based InsureComFree started its operations in June 2022 and is expected to breakeven within the first year of its operations due to its strong product leadership in personal cyber and healthcare propositions and expected to deliver profits later this year.
InsureComFree has attracted immense attention over the last few months from regional investors. Despite the difficult climate for insurtechs globally, as a result of spiralling inflation, economic instability and a fall in tech investment, InsureComFree managed to increase its revenue through its ecosystem of partnerships. The company also gained a large customer base including universities and healthcare companies in its first year of operation and expanded its revenue streams through services and product design with healthcare and cyber service providers. The insurtech’s cutting-edge product platform enables it to bring its own proprietary products and services to various distribution and organizations.
InsureComFree is soon announcing its new partnership with a university to introduce personal cyber insurance to all its students in the coming weeks. This will be a first of its kind in this region as institutions of higher learning are taking active steps to protect the digital footprints of their students.
In 2022, InsureComFree has managed to secure a strategic product development agreement with Singapore based SingViva Pte Ltd to create product propositions suitable for digital distribution in the region. In doing so, the firm has become the first in the Insurtech industry to provide cyber services for targeted customer segments.
Exuding optimism about future growth, Mohd Faizol, CEO and Co-Founder of InsureComFree said, “We are preparing for positive growth in these segments
as awareness of personal cyber risk picks up”
Speaking about InsureComFree’s achievements, Dato Sharon Haniffa, Founder and Chairman of InsureComFree, said, “Despite the economic uncertainty and challenging conditions, InsureComFree will continue with its mission of providing commission-free products to its customers while maintaining its strong growth and success”
Kenny Thing, Founder and Managing Partner of KT Cap Consulting expressed confidence in InsureComFree’s ability to “flip the existing model” of Insurtech in SEA and predicted that more efficient business models will emerge out of Insurtech.
As one of the fastest growing consultancy firms headquartered in Singapore, KT Cap Consulting has been undertaking a series of investment opportunities in Malaysia as it provides consultancy services and assists in the growth and development of its company’s investments organically and through selective add-on acquisitions. KT Cap Consulting invested in InsureComFree back in November 2022 and remains a key shareholder as It continues to seek opportunistic investments in the areas of Insurtech, healthtech and HR
tech companies in SEA.
With tech funding getting increasingly challenging, “various” new Insurtech business models could emerge in the next 12 months in SEA. It’s also taking longer for many Insurtech to demonstrate profitable results post Covid 19 while large platform players continue to command strong bargaining power when negotiating commercial terms with Insurtech firms, according to Kenny Thing, Founder and Managing Partner at KT Cap Consulting.
About InsureComFree (ICF)
InsureComFree, an InsurTech platform that aims to democratise Insurance and Takaful products by making it affordable and accessible for everyone. A revolutionary business model where we focus on the core of Insurance & Takaful and that’s better understanding the risk profile of our digital platforms and co-create insurance products that’s affordable and rebate full commission back to consumers. InsureComFree is headquartered in Kuala Lumpur.
You can find more information at www.insurecomfree.com.my
About KT Cap Consulting (KTCC)
KT Cap Consulting Pte Ltd (UEN: 202223838D) is a boutique management consultancy services company incorporated in Singapore since July 2022. Focusing on Insurance & Healthcare sector, it work with local entrepreneurs based in Singapore, Malaysia and Thailand leveraging on its excusive ecosystem to achieve business success. As a firm, KT Cap Consulting also invest into local startups in Singapore, Malaysia and Thailand with its
You can find more information at www.ktcapitalco.comwww.insurecomfree.com.my
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