Thailand’s “full-stack” Insurtech Sunday recently revealed that it has secured an additional $11 million extension to its Series A round, which is led by Quona Capital, a Fintech VC firm whose funds are supported by Accion, along with contributions from existing investors such as Vertex.
Sunday says it will use the capital raised to help it expand its operations and develop enhancements to its core technology, which leverages machine learning (ML) to determine premiums charged for health, motor, and travel insurance in “real-time.”
Established in 2017, Sunday provides end-to-end insurance solutions and products that are enhanced by its ML-enabled risk prediction engines.
Sunday co-founder and CEO Cindy Kua said that over the past two years her company has been focused on redesigning the entire insurance journey:
“Today we’re able to deliver personalized coverage and [good] customer experiences from initial insurance purchase all the way through to any claims, whether on the Sunday system or through its partner channels.”
Ganesh Rengaswamy, co-founder and managing partner at Quona Capital, noted that insurance is an important part of how consumers throughout the world “achieve financial resilience.”
He added that Quona Capital plans to help Sunday in making insurance more readily accessible to people in Thailand and other areas in Southeast Asia. Rengaswamy also emphasized the importance of providing “consumer-friendly, fairly priced and transparent” insurance solutions.
Sunday offers comprehensive insurance solutions including “real-time” health, motor, and travel insurance premium pricing, worker health benefit packages for corporate clients and their employees, mobile-first claims solutions for automobile and health insurance, and a travel insurance pricing solution for travel agencies.