PolicyStreet.

Introduction

PolicyStreet is a Malaysia-based insurance technology (insurtech) group operating within Asia and Oceania, offering advanced digital insurance solutions to both businesses and consumers. The company collaborates with global life, general, and Islamic-cooperative takaful insurance providers to serve more than five million customers.

Problem

PolicyStreet encountered a significant challenge in its pursuit of optimal growth and innovation, both in their home base of Malaysia and throughout the region. As the company established itself as a prominent player in the insurtech domain, it became increasingly apparent that ensuring technical competence in service providers was imperative. This was particularly crucial in fundraising and share issuance advisory, where precision and expertise were paramount. Overcoming this challenge was essential to maintain the company’s success and secure its position as a leader in the industry.

Solution

In order to sustain its upward trajectory, PolicyStreet sought partners capable of comprehending the nuances of its operations and providing strategic insights to ensure seamless capital infusion and share distribution.

The co-founders of PolicyStreet, Wilson Beh and Winnie Chua, had originally contracted Acclime Malaysia for corporate secretarial services in 2020. After reviewing Acclime’s full portfolio, they realised they could also rely on Acclime for fundraising and share issuance guidance. Acclime’s advisory services were a perfect match for a fast-growing insuretech firm like PolicyStreet, which required technical competence and regulatory expertise.

Recognising the imperative of robust cross-border expansion, PolicyStreet partnered with Acclime Malaysia, whose expertise in fostering cross-border growth was evident in the solution they devised.

Results

This solution drove PolicyStreet into regional markets beyond its Malaysian origins. Leveraging its extensive network spanning across Asia, Acclime Malaysia facilitated PolicyStreet’s expansion by arranging the establishment of entities outside of Malaysia’s borders. This not only enabled PolicyStreet to gain a significant foothold in regional markets but also positioned the company to tap into new avenues of growth and innovation. They were able to pursue this expansion with confidence in their regulatory compliance.

About PolicyStreet

PolicyStreet is an insurance technology group delivering an extensive array of services, such as integrated insurance, tailor-made employee benefits, financial advisory, insurance aggregation, and the creation of user-friendly digital solutions to clients throughout Asia and Oceania. Recognised as a trailblazer in the industry, the company was honoured in 2022 as one of the 100 Leading Emerging Giants in Asia Pacific by KPMG and HSBC.