Hong Kong-based financial services firm and investment bank AMTD Group, via its digital arm AMTD Digital, is acquiring a controlling stake in Singapore insurance startup PolicyPal. After the deal, AMTD will own 51%, with founder Val Yap remaining as CEO
Backed by 500 startups and PayPal amongst others, Policypal was one of the first fledgling inseuretechs from Singapore’s drive to become a fintech hub. It uses artificial intelligence to help users manage insurance policies from multiple providers.
Policypal will join the AMTD suite of brands and promote online insurance and risk management expertise.