As part of our series to reach out to insurers and insurtech companies to bring you direct news about the evolving landscape in the insurance industry, we spoke to the founder of one of the most innovative insurtech companies in recent years. Yujun Chean of Vouch Insurtech tells us what drove him to create Vouch and how he thinks technology is changing the car insurance space for the better.
What made you think of starting a company like Vouch?
Personally, I have no prior working experience in the industry. Instead, as a consumer, I have been paying for different types of insurance for over 10 years without making a claim. During one such renewal, I wondered where my premiums were going. After some research, I uncovered some interesting statistics about the car insurance industry in Singapore. While car insurance is mandatory, only ~15% of drivers make claims annually. That