This strategic acquisition positions Roojai to expand its market share in Thailand, with a combined portfolio of over US$50 million in annual premiums. Moreover, the acquisition will enable Roojai to operate as a fully digital insurance company and obtain a license to underwrite general insurance products.
As part of the deal, the acquired business will be rebranded under the Roojai brand, pending regulatory approval. This move solidifies Roojai’s commitment to enhancing its presence and offerings in the Thai insurance market. Importantly, the acquisition will not impact existing policies, claims processes, or customer services associated with FWD General Insurance.
Nicolas Faquet, founder and group CEO of Roojai, expressed enthusiasm about the acquisition, highlighting the insurtech’s focus on customer convenience and a seamless insurance journey. Faquet focussed on Roojai’s commitment to providing customers with customisable insurance products, affordable premiums, and exceptional customer service and claims experiences. He stated, “This important step will facilitate further product and process innovations for the benefit of our customers.”
The acquisition of FWD General Insurance by Roojai follows bolttech’s successful Series B funding round, in which the Asian unicorn raised an impressive US$196 million, valuing the company at a total of US$1.6 billion.
Industry experts and stakeholders are keenly observing the developments, recognising the potential implications of this acquisition on the Thai insurtech landscape and the evolving customer experience in the insurance sector.
