Symbo Acquired a Reinsurance Software Platform - \'ReLeague\'
Wednesday, 08 August 2018, 17:42 IST
The Singapore-based regional all lines insurance firm Symbo Platform Holdings (Symbo) has grabbed ReLeague - a B2B reinsurance software platform. The acquisition not only pilots 90 institutional clients from 25 countries including ASEAN, MENA, South Asia, East Africa, and South Africa but also fuses Symbo’s reach across the insurance industry value chain, merging reinsurance to its services along with direct insurance. “Symbo’s highly experienced leadership team and its commitment to build innovative technology solutions in the insurance space gives me great confidence in the potential of the company. We are thrilled to be a part of this journey and look forward to the next phase of growth with great excitement and anticipation” said Anurag Jaroli, (Co-founder and Chief Operating Officer, ReLeague) who will be joining Symbo as Head of Reinsurance post this acquisition.
Alongside, ReLeague will facilitate Symbo to distribute end-to-end workflow automation solution, which will propel seamless digital swap of complex reinsurance data among reinsurers and brokers. The technology driven insurance business Symbo, is accredited & supported by Symbo India Insurance Broking (SIIB), Yinglan Tan’s Insignia and Dymon Asia Ventures (investors). Within short interval of time, the company has formulated a solid foundation in India through its corporate as well as retail technology platform and covered around 700,000 lives under product general, life, personal and commercial insurance product lines. Enrich with such features, Symbo is aiming to expand its footprints into South East Asia (Singapore and Indonesia).
“The acquisition of ReLeague marks our determination to become the trusted intermediary for customers across all aspects of insurance and reinsurance value chains. We are confident that this is a highly synergistic investment that will bring many benefits and savings to all our clients and partners,” concluded Anik Jain, Co-Founder & Chief Executive Officer, SIIB.
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