Eazy Digital: Revolutionizing Insurance Industry with SaaS Platform
Founders’ Vision
Founded by two insurance industry veterans, Haprem Doowa and Maethavee Sukul, Eazy Digital aims to provide small insurance companies in Southeast Asia with the same level of advantage as their larger competitors. The startup’s vision is centered around its Software-as-a-Service (SaaS) platform, which enables insurers to digitize various aspects of their operations and scale up more efficiently.
Seed Funding
In a significant development, Eazy Digital has secured $850,000 in an oversubscribed seed round led by Wavemaker Partners. This funding round also saw participation from Seedstars International Ventures, Wing Vasiksiri, and Sasin Bangkok Venture Club. The startup’s founders revealed that the funds will be utilized for marketing, hiring, and product development, with a focus on expanding to other Southeast Asian markets.
Founders’ Background
Haprem Doowa, co-founder of Eazy Digital, has an impressive background in the insurance industry. Prior to founding Eazy Digital, Doowa was the co-founder and CEO of Frank Insurance, an online digital broker in Thailand that was acquired by Bolttech in 2021. Maethavee Sukul, the other co-founder, served as the head of operations at Frank, Bolttech Insurance Broker, and digital health insurance broker Benix.
Industry Challenges
During their tenure at Frank, Doowa and Sukul observed that many insurance companies in Thailand struggled with manual work and quick home-built solutions. The founders noted that larger insurance companies have the resources to build their own software, but smaller competitors face significant challenges in digitizing their operations. According to Doowa, over 90% of insurance companies are small players who struggle to scale up efficiently.
Eazy Digital’s Solution
Eazy Digital aims to bridge this gap by providing an affordable and scalable platform that helps insurers manage agents, operations, user referrals, and engagement. The startup’s SaaS platform is designed to cater to the specific needs of small insurance companies, enabling them to compete with larger players.
Competitive Landscape
The insurtech industry is gaining momentum, with several startups emerging as key players. Eazy Digital’s competitors include eBao, Appman, and ZA Tech, which also build software for insurers. However, Doowa emphasized that Eazy Digital differentiates itself by focusing on distribution and the efficiency of agency sales and customer referrals.
Expansion Plans
With its seed funding in place, Eazy Digital is set to expand its operations to other Southeast Asian markets. The startup’s founders are committed to utilizing the funds effectively, with a focus on marketing, hiring, and product development. This strategic approach will enable Eazy Digital to establish itself as a major player in the insurtech industry.
Conclusion
Eazy Digital’s vision of providing small insurance companies with a scalable platform is gaining traction. With its experienced founders at the helm and a strong seed funding round, the startup is well-positioned for growth. As the insurtech industry continues to evolve, Eazy Digital is poised to revolutionize the way insurers operate in Southeast Asia.
About the Authors
Catherine Shu, Senior Reporter at TechCrunch, has extensive experience covering startups in Asia and breaking news. Her reporting has appeared in leading publications such as the New York Times, the Taipei Times, Barron’s, the Wall Street Journal, and the Village Voice.