Asia Insurance partners with aCommerce to launch ‘PokéSurance’, an online-only micro-insurance product for Pokemon Go Trainers
Bangkok. August 25, 2016 Asia Insurance, one of Thailand’s most innovative insurance companies makes the move to sell insurance online with aCommerce, Southeast Asia’s leading ecommerce enabler, who is supporting them with ecommerce strategy consulting, performance marketing, and web development services.
Pokémon Go, the augmented reality mobile game launched in July in the US and August in Thailand, climbed to the top of the charts on the iOS App Store and Google Play after its release. The game has become so popular with latest data showing people are spending considerably more time on the game than on social networks like Facebook, Snapchat, Twitter and Instagram.
With millions of people addicted to Pokémon Go, reports of injuries sustained while playing the game have also increasingly surfaced. Huge and dangerous stampedes are caused by trainers chasing down rare Pokémons all across the world.
As a result, Asia Insurance partnering with aCommerce has come up with an online-only insurance product called PokéSurance to provide coverage and safety to Pokémon Go trainers in Thailand. This partnership leverages Asia Insurance’s history of innovation in the insurance space – the company invented the ASIA 3+ insurance for motorists – and aCommerce’s reputation for bringing brands and retailers online in Southeast Asia.
How to Get PokéSurance:
Pokémon Go trainers have the opportunity to buy this insurance online from the Asia Insurance website in four simple steps. Unlike traditional insurance, customers don’t need to go through a long and user-unfriendly buying process which includes a visit to the physical branch or being called back repeatedly by insurance sales agents.
Users can select one of two package options:
- Mobile Phone Screen Insurance for THB99/30 days
- Personal Accident Insurance for THB30/30 days
The package gets activated immediately after checkout once the customer receives the confirmation email. While most insurance package requires long term commitment, lots of documentation, a minimum age limit and prerequisites, this is a micro insurance package which is short-term on a monthly basis, affordable, and only requires users to upload a picture of their ID cards and phone showing a good screen condition and serial number.
“The insurance industry is long overdue for digital disruption. Today’s customers are fed up with the traditional push channels of buying insurance which typically involve sales agents calling or spamming customers. In addition, millennials are not in the market for traditional insurance products like life insurance and prefer new micro and on-demand insurance products tailored to their digital lifestyle. PokéSurance is our first and formal step into transforming our insurance business through technology,” said Apinara Srikanchana, Assistant Managing Director of Business Development, Asia Insurance.
“Ecommerce is disrupting all industries, not only physical retail. For example, Zhongan.com, the world’s most valuable insurance tech company, is an $8 billion business started by the Alibaba, Tencent, and Ping An Insurance founders, selling all kinds of insurance direct to consumer online in China, including drone and mobile phone insurance. It’s only a matter of time before that kind of disruption will hit Southeast Asia. Traditional insurers are too slow to respond to these new opportunities which is why more nimble players like Asia Insurance teaming up with enablers like aCommerce can leapfrog the competition,” said Kawin Panusittikorn, Head of Financial Services & Insurance Ecommerce at aCommerce.
“PokéSurance is proof that the market is ready for insurance ecommerce, with initial conversion rates of close to 1% compared to an industry benchmark of 0.2-0.3%,” added Ms. Srikanchana. “Our most popular PokéSurance product is Mobile Phone Insurance for 99 baht for 30 days. This shows us that there’s an appetite for micro-insurance.”
Asia Insurance will also offer motorbike and car insurance online with the help of aCommerce in the near future.
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aCommerce is an ecommerce solutions provider present in Thailand, Indonesia, Philippines, Malaysia and Singapore, bringing global brands online. Having raised one of the largest Series A funding rounds of Southeast Asia, aCommerce is now rapidly expanding as the region’s leading ecommerce service provider. With over 1,300 staff and operations in Southeast Asia, aCommerce provides robust localized ecommerce solutions for global brands such as L’Oreal, LINE, Adidas, HP, Philips as well as retailers and marketplaces such as Lazada and MatahariMall.
The company offers end-to-end retail services, which includes multi-shipping and multi-channel management, ecommerce platform design and development, order fulfillment and warehousing, payment gateways, cross border management, localization strategy, delivery and logistics, customer service call centers, creative production, and performance marketing. aCommerce was founded in May 2013 and is based in Bangkok.
About Asia Insurance
Asia Insurance 1950 Public Co. Ltd is one of the leading innovators in Thailand’s insurance industry. The company has launched “PokéSurance”, an online-only insurance package for Pokémon Go players. The package extends to mobile phone insurance and personal accident insurance, car insurance and motorcycle insurance. The monthly insurance package comes at an affordable price, and allows Pokémon trainers to train and hunt, without having to worry about accidents or damaging their smartphones along the way.
Asia Insurance is also prepared to insure both cars and motorcycles at 30 baht per month.