Oona Insurance - Insurer Innovation Award 2024

1. The World’s Digital Insurer Awards /
Insurer Innovation 2024, Asia Pacific
Say Hello To The
Fresh Face Of
Insurance
In A Connected
World.

2. Founded in January 2022 by insurance veteran Abhishek Bhatia,
Oona Insurance is headquartered in Singapore.
Backed by USD $350m from Warburg Pincus, Oona Insurance
aims to be the leading digital general insurer in key Southeast
Asia markets, by deploying a buy-and-build strategy.
It is seeded with two acquisitions – PT Asuransi Bina Dana Arta
Tbk in Indonesia and Mapfre Insular Insurance Corporation in
the Philippines.
To be Southeast Asia’s
most customer driven and
transformational insurer.
— 2
Indonesia
Philippines
Singapore
Vietnam
Thailand
Malaysia

3. Setting new benchmarks for
the insurance industry.
— 3
Digitalization gives more people access to
insurance and improves insurers’
efficiency.
Traditional insurers often struggle to
embrace digital change due to their
inoperable legacy systems, which hinder
innovation and agility.
Oona aims to expedite closing the
protection gap while raising the bar for the
industry at large through best-in-class
digital assets and enhanced business
processes.
Oona’s strategic footprint to
reshape the industry landscape
Designing a multichannel
insurance platform and
highly scalable business
model
The white space
Build next-gen
customer facing
platforms
Design best-in-class
digital capabilities
across the value chain
Simplification of
business processes
to drive productivity

4. — 4
Direct to Consumers
Enabling Intermediaries
e.g., agents,
brokers, banks
Empowering
Ecosystem Partners
Our agility ensures rapid value
creation.
Data and Technology
as our strategic
advantages
Myoona.id
Myoona.ph
Kahoona
Iaas
Insurance
as a service

5. Powered by AI
with enhanced focus
to facilitate ease of
data entry
— 5
Web journeys designed
for users’ convenience.
Instant Policy
Issuance

6. — 6
Real time checking of flight status and
instant voucher for lounge access sent via
email when a flight is delayed >60mins.
Matching of lounge availability per
terminals etc.
Seamless UX – the only information
required are customer’s flight number
and date, with no need to enter airport
details.
No claims submission required!
Oona Smart Flight Delay.
Travelers in the Philippines
and Indonesia often find
themselves dealing with
the frustration of frequent
flight delays, which can be
incredibly distressing
experiences.
Customer
Pain-Point
Oona’s
Innovative Solution
1st ever travel insurance with no-claims
submission required

7. — 7
Ground-breaking
Optical Character
Recognition (OCR)
models that utilize AI
to detect two distinct
document formats,
(identification &
certificate of
registration) enabling
the autofill of vehicle
information in forms
and subsequent
verification.
In the Philippines, car
owners must annually buy
Compulsory Third Party
Liability (CTPL), which
requires manually
submitting extensive
vehicle information,
leading to time-consuming
and error-prone processes.
Customer
Pain-Point
Oona’s
Innovative
Solution
Compulsory Third Party Liability
Insurance. Get insured in minutes
by snapping a few photos.
Driver’s License
Passport
Sample ID cards
Reduction in issuance time
from 30-45 mins to 5-10 min

8. — 8
Revolutionizing risk
inspection.
Through a partnership with CamCom, instant AI-driven risk
inspection is now available in the purchasing process.
Frequent risk inspections are
a standard practice due to
high fraud rates.
Traditionally, this involves
agents visiting customers or
using emails and photo
uploads, followed by
manual photo review.
These steps lengthen the
claim process and create
unnecessary inconvenience.
Customer
Pain-Point
Oona’s
Innovative Solution.
Using AI to transform the way we
conduct car insurance claims
FNOL:
AI cameras for enhanced image
capture and fraud protection.
DAMAGE ASSESMENT:
Point of impact and cause
of incident analysis and
accurate damage
assessment with fine
grained damage types.
ESTIMATION:
Repair/replace decisions made
fast and instant price estimates
with detailed parts, paint &
labour costs.
REVIEW AND
SETTLEMENT:
Hassle free settlements
and reduced time to pay
outs.
Reduction of
time and risk.

9. — 9
Powering an end-to-end buying journey through
conversational ChatGPT sales agent chatbot
Chat, insure, done!
Customers often encounter
challenges when dealing with
insurance companies, such as
overwhelming paperwork,
unanswered questions,
complex processes, and
lengthy waiting times for
responses.
Customer
Pain-Point
Oona’s
Innovative
Solution
Get insurance plan
recommendation from
the chatbot to give
based on indicated
preferences
Delivering personalized
engagement powered
by Generative AI
Seamless
integration with
existing systems
Multi-lingual
Conversational
AI ChatBot
(Bahasa, English)
24/7 self-serve for
customers
(incl. Quick Quote
and Issuance)
Personalized
experience across
multiple channels
(incl. Web,
WhatsApp)

10. — 9
Including ability to view
individual downline
performance
Captures all leads in progress,
completed, expired with
customer details
Pipeline view with instant
customer connect (SMS,
call, email)
Dashboard My Performance Leads Management Sales Customer Details To-Do
Auto populate customer
details with automated
flow for seamless KYC
Image based risk assessment
for motor insurance
Agent inspired, agent
approved. The ultimate insurance business tool,
perfectly designed for every device.
— 10

11. Embedded insurance and
strategic alliances .
— 11
Oona’s IaaS Design Principles
Democratizing
insurance access
• User-Centric Interface Design
• Configurable Insurance Products
• Hybrid Cloud API Services
• Multi-Tenancy, Multi-Language Support, On-Demand Insights, and
Security Integrated
Example GCash Embedded Insurance (Filipino Mobile Payment Provider)

12. — 12
Oona’s IaaS Design Principles
Multi-finance & Broker Agency
Bancassurance
Direct-to-Consumer
New channel: e-commerce/marketplace
40
Agents Recruitment
Offices
13
Witness our ecosystem’s rapid
growth. In just one year, our cutting-edge digital platforms
have empowered countless partners to achieve more.
And
growing!!
Grew by 30%
Grew by 105%
Agents Recruitment
Offices