PT Sunday Ins Indonesia Appoints Chief Partnership Distribution Officer, Strengthens Presence In Indonesia's Health InsurTech Market

Chief of Business Development & Partnerships at PT Sunday Ins Indonesia (Sunday). (Photo: Special)

JAKARTA - Earlier this April, Vinia Lestianti Erwin - was recently appointed as Chief of Business Development & Partnerships at PT Sunday Ins Indonesia (Sunday). Sunday is the largest full-stack insurtech company in Southeast Asia.

The joining of Vinia is expected to encourage the development of financial inclusion in the health insurance sector, especially for the business sector and the general public through attractive and easily accessible insurtech services and products. With more than 20 years of experience working in Indonesia with the world's leading financial and banking institutions, Vinia will be involved in building meaningful partnerships in line with Sunday's vision to integrate insurance into every ecosystem in Indonesia.

This is the third appointment in the same month to the senior ranks of companies by the Sunday Ins Holding Group, both for Thailand and Indonesia.

Previously served as Chief of Partnership Distribution Officer, PT Avrist Assurance, and Vice President of Retail Banking Insurance Business at Citibank, Vinia has a track record of success in providing the best results throughout her career. And she joined Sunday, an InsureTech startup known to have strong financial backing from fintech companies in Southeast Asia, through blue chip investors such as Vertex Ventures, Quona Capital, and Tencent.

“In my 20 years of experience in trading insurance through conventional methods, insurance penetration in Indonesia is still very low, which is only about 2 percent of the total population of this country. Given the large population of Indonesia, this is a tremendous market potential for insurance growth, coupled with the acceleration of digital technology triggered by the COVID-19 pandemic, I think it is very appropriate to develop a new strategy in marketing insurance to penetrate the market, "said Vinia in a written statement, quoted Monday, April 4.

InsureTech, he continued, is expected to help individuals understand their insurance needs, assess the various insurance products available, and also find an easy way to make insurance claims.

“This will be a 'game changer' for the insurance industry. For this reason, I decided to develop insurtech because I firmly believe that insurtech will play a major role in increasing the penetration of the Indonesian insurance market in the future. I see that Sunday has an integrated market and InsurTech service and is also fully supported by data, technology, and insurance companies, so Sunday is one step ahead of its competitors," added Vinia.

The momentum of opportunity in the insurance market

Meanwhile, Cindy Kua, CEO & Co-Founder of Sunday said, "Our company is increasing its business very quickly and is committed to making a big expansion in 2022. Indonesia is one of the fastest-growing insurance markets in ASEAN with various opportunities available.

“We believe that our products, existing technology, and 'data science' capabilities coupled with Vinia's experience and deep understanding of the local market in Indonesia will be a formidable strength. The collaboration with Vinia will provide a much-needed differentiating solution in narrowing the gap between affordable health insurance and existing general insurance. We are very excited to welcome Vinia to join us as part of our accelerated growth,” explained Cindy.

Sunday completed its Series B round in September 2021, where it secured several new investors such as Tencent, Vertex Growth, Granite Oak, and Aflac Ventures. Other investors who have joined earlier are SCB 10X, Vertex Ventures, Quona Capital, and Z Ventures. Until today, Sunday has been able to reap a total investment of 75 million US dollars.