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DirectAsia
Singapore insurance provider From Wikipedia, the free encyclopedia
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DirectAsia is a Singapore-based motor and travel insurance provider.[1][2]
History
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Perspective
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]
In 2024, Roojai Group, a Thai online insurance brokerage, acquired DirectAsia Thailand from Hiscox. Following the acquisition, DirectAsia’s Thailand operations were rebranded as Roojai Insurance, while its Singapore business retained the DirectAsia name.
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Investigation
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
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