DirectAsia
| Industry | Insurance |
|---|---|
| Founded | 2010 |
| Founder | Simon Birch |
| Headquarters | Singapore |
| Website | https://www.directasia.com/ |
DirectAsia is a Singapore-based motor and travel insurance provider.[1][2]
History
[edit]DirectAsia was founded in Singapore in 2010 and launched in Hong Kong in 2012 and in Thailand in 2013.[3][4] During 2013, DirectAsia had gross written premiums of $25.3 million.[5]
In 2014, DirectAsia was acquired by Hiscox Insurance to commit further to serving customers in Asia. Hiscox has reached a $55 million agreement with Whittington Group. DirectAsia was Hiscox's first business in Asia and built on its other direct-to-consumer operations in Europe and the US.[6][7]
Simon Birch, the former managing director of Direct Asia, left that business in July 2015 following its acquisition by Hiscox.[8][9][better source needed] In March 2016, Hiscox group agreed to sell the Hong Kong division of DirectAsia business to WellLink.[10] In October 2016, DirectAsia Group was announced as an Official Partner of Leicester City Football Club for the 2016/17 season.[11][12][13] In October 2018, DirectAsia partnered with Prudential Singapore.[14][15]
Investigation
[edit]In 2021, DirectAsia and 11 other insurance companies became victims of fraud by a Singaporean woman Wendy Tan Phaik Sim. She's defrauding 12 insurers of SG$30,900 through numerous false travel insurance claims for delayed baggage, despite not going on holidays.[16]
References
[edit]- ^ Ben-Hutta, Avi (14 October 2018). "DirectAsia Partners with Singtel". Coverager - Insurance news and insights. Retrieved 20 March 2023.
- ^ "Virtually covered". Bangkok Post. Retrieved 20 March 2023.
- ^ Stobbart, George (20 August 2013). "Pioneering Online Insurance Business DirectAsia.com Launches in Thailand". News Insurances. Retrieved 20 March 2023.
- ^ "DirectAsia Insurance uses 'invisibility' metaphor to spotlight priceless memories formed in cars". Marketing-Interactive. Retrieved 20 March 2023.
- ^ Durham, Captive Insurance Times reporter Stephen. "Hiscox acquires DirectAsia". captiveinsurancetimes.com. Retrieved 20 March 2023.
- ^ Durham, Captive Insurance Times reporter Stephen. "Hiscox acquires DirectAsia". captiveinsurancetimes.com. Retrieved 20 March 2023.
- ^ Gangcuangco, Terry. "Hiscox bounces back in latest financials". www.insurancebusinessmag.com. Retrieved 20 March 2023.
- ^ Crearts. "Former Direct Asia managers launch Singapore insurtech firm with BGL parent". insurtechnews.com. Retrieved 20 March 2023.
- ^ "Former Direct Asia management establish Singapore insurtech firm with BGL parent | | Eames Consulting". www.eamesconsulting.com. Retrieved 20 March 2023.
- ^ "BRIEF-Hiscox to sell Hong kong division of DirectAsia to Well Link". Reuters. 10 March 2016. Retrieved 20 March 2023.
- ^ "Project11 Renews Winning Partnership Between Leicester City and DirectAsia". Project11. 18 October 2017. Retrieved 20 March 2023.
- ^ Ltd, Sportsglobal (UK) (7 August 2017). "Leicester City announce partnership renewal". Football Trade Directory. Retrieved 20 March 2023.
- ^ "Leicester City's Asian growth ensures a second season with DirectAsia". Inside World Football. 4 August 2017. Retrieved 20 March 2023.
- ^ Network, Asia Advisers. "Singapore: Prudential and DirectAsia announce exclusive strategic partnership". Asia Advisers Network. Retrieved 20 March 2023.
- ^ Ben-Hutta, Shefi (9 November 2018). "DirectAsia & Prudential Assurance Are Exclusive". Coverager - Insurance news and insights. Retrieved 20 March 2023.
- ^ Olano, Gabriel. "Singapore woman scams SG$30,900 from 12 insurers". www.insurancebusinessmag.com. Retrieved 20 March 2023.