Nogle Capital Management Announces Investment in Singapore Startup Company Vouch Insurtech
Nogle Capital Management is excited to announce that together with leading Singapore venture capital firm GREE Ventures and several angel investors, it has participated in the seed funding round of SGD$1 million for Singapore startup Vouch Insurtech.
TAIPEI, Taiwan, Feb. 5, 2018, /PRNewswire/ -- Nogle Capital Management is excited to announce that together with leading Singapore venture capital firm GREE Ventures and several angel investors, it has participated in the seed funding round of SGD$1 million for Singapore startup Vouch Insurtech.
Yujun Chean, CEO of co-founder of Vouch Insurtech states, "We are thrilled to receive investment and support from such high caliber group of investors to achieve our growth objectives. At Vouch Insurtech, we truly believe we are transforming the way car insurance, a sector that has experienced little change in the past several decades, will be done in the future. In the traditional car insurance model, safe drivers are penalized with paying higher premiums, to cover the risks of unsafe drivers. I realized that this was tremendously unfair, and saw an opportunity to work with insurance companies, to reward safe drivers. Insurance companies also want to encourage their customers to drive safely, as it means fewer claims."
"Nogle Capital Management is continuously looking to source best-in-class investment opportunities and is always excited to invest in next-generation technology startups like Vouch Insurtech that have the potential to disrupt the way we live and work," says Carlos Salas, Managing Partner of Nogle Capital Management.
Ludwin Lai, Partner at Nogle Capital Management emphasized, "We are positive with the outlook of the first Asia peer-to-peer insurance buying platform that is revolutionizing the way consumers buy car insurance."
Earlier this month, Vouch Insurtech announced that it has entered into a partnership with three established insurance companies -- NTUC Income, Sompo Insurance Singapore, and Tokio Marine Singapore -- to be connected to its innovative digital platform and to provide fairer car insurance to customers in Singapore. Moving forward, Vouch Insurtech aims to expand regionally in Asia targeting Thailand, Malaysia, and Taiwan.
About Vouch Insurtech
Founded in late 2016, Vouch Insurtech is a peer-to-peer group insurance buying platform that works together with multiple insurance companies to offer cash back motor insurance to safe drivers. The car insurance policy holders receive up to 15% cash back on top of the no-claim-rebate from insurance companies by forming groups with other safe drivers and enjoy a fairer and more transparent user experience. Benefits for insurance companies to work with Vouch Insurtech is the improved customer experience, a transformation of the way insurance is distributed and the promise of profit improvements by paying fewer future claims. In 2017, Vouch was selected by global reinsurer, Swiss Re, to participate in their InsurTech Accelerator Programme.