Lexasure Monetary Group has teamed up with Singapore-based My Automobile Advisor (MCC) to collectively ship data-powered, self-insured automobile insurance coverage.

MCC focuses on offering complete automotive options for its shoppers.

Below the deal, Lexasure will assist MCC in delivering its shoppers a wide range of captive automobile insurance coverage insurance policies as a part of the all-in-one resolution that the enterprise affords to motorists within the South-East Asia area.

MCC managing director Jeremy Yeo San mentioned: “We’re excited by the potential of this partnership to supply a spread of insurance coverage choices to our present and future prospects, together with usage-based insurance coverage (UBI), on-demand insurance coverage, and prolonged guarantee merchandise.

“These merchandise are a pure match with our portfolio of companies that embrace accident companies, upkeep and restore, and fleet administration, on condition that we are able to monitor and self-perform required work at a excessive degree of effectivity. 

Lexasure can even analyse methods to utilise its community to handle captive insurance coverage for MCC in Singapore and Cambodia as a part of the collaboration.

The proposed strategic deal will probably be executed topic to mandatory closing circumstances and regulatory approvals.

Lexasure’s options, together with reinsurance-as-a-service (RaaS), assist prospects in managing danger and boosting progress.

The group presently serves greater than 60 major insurers in 22 international locations within the Asian and North American areas. 

Final month, Lexasure launched a cloud-powered business-to-business-to-consumer (B2B2C) platform to help insurance coverage corporations in enhancing competitiveness, enlargement and profitability.