In almost every company’s journey, there are certain key milestones that change the future of that company.
For us, it was joining AMTD Digital, the digital finance platform arm of AMTD Group, a leading investment banking firm in Asia.
This is the second in a five-part series detailing our growth, our journey, and our commitment to serving the community.
The story of how PolicyPal met AMTD
In 2017, Val, CEO and Founder of PolicyPal, met Calvin Choi, Chairman of AMTD. They kept in touch with possible ideas on how both companies could work with each other. Little did they know that that was the beginning of a partnership three years later.
Since that first meeting, AMTD and PolicyPal continued to grow and evolve individually. But it soon became apparent that both sides had goals and ideals that were aligned. AMTD Digital has a vision of being a one-stop digital financial services platform in Asia, while PolicyPal’s mission is to bring tech and insurance together for families and communities to enhance their insurance experience.
All of that came together in March 2020 when AMTD Digital announced they were acquiring PolicyPal (that’s us!) as their first step into the Singapore market.
What does it mean for PolicyPal?
This new partnership has opened new doors for PolicyPal, giving us access to AMTD Digital’s SpiderNet which includes bank partners as well as SME lending and payment distribution partners.
We have also received invaluable guidance from the AMTD Group.
What about the PolicyPal team?
Some have asked if this acquisition changes anything for the team at PolicyPal, and we assure you that we are here to stay. The acquisition has only strengthened our resolve to continue building a platform we genuinely believe can add value to everyone’s lives.
We look forward to growing a strong and cohesive team to improve our offerings, and serve more users in Singapore in the best way we know.
What does this mean for our consumers and community?
This acquisition can only mean bigger and better things for our PolicyPal community. The PolicyPal team is striving to build a more seamless digital experience for our users.
This also entails working with our new ecosystem partners to collaborate and offer new features to help enhance the user journey, ultimately giving customers the best user experience.
Are insurance partners affected?
There will be some changes when it comes to our insurance partners, but all good changes we promise!
With AMTD’s SpiderNet, we can tap onto the ecosystem’s distribution channels, growing our current distribution base to scale up together with them and offer our insurance partners’ products to a larger market.
What is next for PolicyPal?
We are incredibly blessed and fortunate to be a part of AMTD Digital, and this is only the start of things to come. With the backing of the incredibly immense network of the AMTD Group, PolicyPal will work to build improved features for our community and help people receive experiences digitally.
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