08 August 2022 – Democrance, an international InsurTech start-up, has entered a partnership with Dai-ichi Life Cambodia to launch their first digital life insurance product.
Democrance’s SaaS (software-as-a-service) technology platform enabled Dai-ichi Life Cambodia to launch a simple and affordable term life product with a fully-digital customer journey and automated process. This will allow customers to purchase the product online easily and quickly, with immediate protection. Michele Grosso, CEO and Co-Founder of Democrance, said: “Through this great milestone, we are committed to support Dai-ichi Life’s digital strategy and presence in growing digital insurance markets in Cambodia and potentially other geographies.”
“Democrance currently supports Life and P&C insurance companies in more than 15 countries in the world, and Asia is the huge market for us to grow our business and add value to digital insurance ecosystem. We continue to invest in our SaaS platform technology to support our client insurance companies and brokers, enabling them to meet the rapidly evolving demands by the digital-savvy consumers and growing digital insurance market in Asia.”
Mah Kin Yoong, Chief Commercial Officer of Dai-ichi Life Cambodia, said “Our partnership with Democrance enables us to provide inclusive insurance to those who need it the most across Cambodia, digitally. We are committed to stand by the side of our customers and their loved ones, for life, and make concerted efforts to deliver “peace-of-mind” under our philosophy of “Customer First”. Democrance is a partner of choice to other global insurance powerhouses in 16 countries across 3 continents and has extensive growth plans for other major markets in the coming year. Democrance SaaS plug-and-play technology platform has enabled insurers launch new distribution channels easily and quickly without investing in their legacy core systems, including online direct-to-consumer (D2C), intermediate sales (brokers, agents and bancassurance) and various affinity partner channels including telecom operator, mobile wallet, eCommerce, online aggregator,
fintech partner, microfinance and retail shop network
Founded in 2015 with a mission to enable partnerships that make insurance accessible and affordable for all emerging market segments of society, Democrance helps insurers expand their digital offering thereby unlocking the potential for entirely overlooked pockets customers, products, or channels. Democrance is a B2B data-enabled, white-label SaaS plug-and-play technology platform that digitizes sales & distribution verticals of the insurance value chain for emerging market segments
About Dai-ichi Life Insurance
Dai-ichi Life Insurance (Cambodia) PLC. (“Dai-ichi Life”) is a subsidiary of Dai-ichi Life Holdings, Inc. (“DLHD”) which is a leading life insurer in Japan with more than 120 years of history. DLHD is A+ rated by the S&P and is listed on the Tokyo Stock Exchange.
Since its establishment in 1902, DLHD has been committed to stand by the side of our customers and their loved ones, for life, and make concerted efforts to deliver “Peace-of-mind” under our philosophy of “Customer First”. We contribute to local communities by passing on peace-of-mind through providing life insurance and related services.