News Technology12 Apr 2018

Indonesia:Allianz X Invests US$35 mln in Southeast Asian mobile platform

| 12 Apr 2018

Allianz X, the digital investment unit of the Allianz Group, yesterday announced US$35 million investment in GO-JEK, the leading Indonesian ride hailing platform that also offers various consumer on-demand and payment services.

This is Allianz X’s first investment in a Southeast Asian-headquartered company and fourth transaction in 2018. Allianz becomes GO-JEK’s sole international insurance shareholder.

“Allianz X’s strategic investment in GO-JEK underscores Allianz Group's Renewal Agenda and our commitment to digital growth businesses, particularly in emerging markets,” said Mr Nazim Cetin, CEO of Allianz X. “GO-JEK has demonstrated a track record of success within the transportation, logistics and payment sectors and we look forward to supporting their continued growth.”

Headquartered in Jakarta, GO-JEK initially started as a ride-hailing app and evolved into an on-demand mobile platform that provides a wide range of services including transportation, logistics, e-payments, and food delivery, among others.

“Allianz X’s decision to invest in GO-JEK is a testament of the Group’s strategic direction to support digital ventures,” said Mr Joos Louwerier, president director of Allianz Life Indonesia. “GO-JEK is one of the largest digital unicorns in Indonesia and through this investment, Allianz and GO-JEK will strengthen their ties and collaboration further. Together we can offer unique financial products and services to the wider GO-JEK community.”

GO-JEK has more than one million registered drivers on the app serving customers in more than 50 cities in Indonesia.

Allianz Indonesia and GO-JEK started a strategic partnership two years ago, whereby Allianz Indonesia provided health insurance services to GO-JEK drivers. In 2017, this offering was expanded to allow GO-JEK drivers to purchase health insurance for their families. GO-JEK’s investment will increase access to insurance products and services for GO-JEK’s customers.

 

| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.

Other News



Follow Asia Insurance Review