PolicyStreet Scores RM2.1 Million in Seed Funding

(photo) PolicyStreet Management Team. Wilson Beh, Chief Operating Officer; Yen Ming, CEO; Winnie Chua, CPO and Jason Lee, CIO of PolicyStreet.

PolicyStreet announces that it has raised a total of RM2,100,000 (USD500,000) in seed funding from a Singapore-based venture capital fund, KK Fund. With this injection of funds, the company is curating new impactful insurance products and is now seeking more collaboration from industry players, corporates and groups to propel the insurance industry to the next level.

“We want to change the perception of insurance by providing the right education and awareness. We believe insurance is a prerequisite in all stages of life and we take pride in being a part of our customer’s life journey,” says Lee Yen Ming, Co-founder and CEO of PolicyStreet.

The company deploys and Offline-to-Online approach, targeting like-minded people and address their needs before getting them to purchase and complete transactions via its portal.

While the public continues to think that owning an insurance policy is one of the least priorities in life, PolicyStreet hopes that with a bit more direct awareness, education and knowledge, consumers will be able to make better informed decisions when it comes to their protection needs.

Furthermore, the company aims to play a key role in bridging the country’s protection gap and meeting the envisioned 75% insurance penetration rate by 2020.


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