Plug and Play Singapore's Fintech and Insurtech Program Welcomes First Two Partners from Indonesia

Plug and Play
2019-02-25 09:00 3019

SINGAPORE, Feb. 25, 2019 /PRNewswire/ -- Plug and Play Singapore announced today that two new partners have joined their Fintech and Insurtech programs, both coming from Indonesia. Astra International will be joining the Fintech program while Sequis Life will be joining the Insurtech platform. In this collaboration, both Indonesian companies will gain access to the global startups in Plug and Play's ecosystem. Sequis Life joins MSIG and Willis Towers Watson in the Insurtech program, while Astra International joins Krung Thai Bank, and TVS Credit in participating in Plug and Play's second Fintech program starting at the end of February.

"In order to be ready for the future, collaboration with startup companies has become one of Astra's main priorities," said Aloysius Budi Santoso, Chief Corporate Human Capital Development for Astra International. "This partnership with Plug and Play Singapore will create opportunities for us to search, select, and work with companies that can provide additional value to our current challenges."

"As we reach our 35th year of serving the Indonesian community, we are excited to partner with Plug and Play to bring new life and health technologies to our customers," said Tatang Widjaja, President Director and CEO at Sequis Life. "Connecting with startups through Plug and Play will bring us one step closer to achieving our goal to provide a seamless customer journey."

Headquartered in Silicon Valley, Plug and Play's global innovation platform provides connections between startups with emerging technologies and corporations looking to further develop their digitalization strategies and improve existing business models.

"We're quite excited to start working with our first two Indonesian partners in our Fintech and Insurtech programs here in Singapore. Our goal is to become a regional innovation powerhouse for financial services, and in order to do so, it's imperative to work with key players in all of the major markets in Southeast Asia," said Kayvon Deldar, Program Head of Plug and Play's Fintech and Insurtech programs in Singapore. "Indonesia is a huge area of opportunity for our startups to successfully scale in the region, and we're looking forward to seeing flourishing partnerships from Astra International and Sequis Life as they work with our international pool of startups."

Plug and Play Singapore has programs focused on Fintech, Insurtech, and Mobility, with plans to launch Supply Chain & Logistics and Travel & Hospitality later this year.

About Plug and Play

Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 280 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal.

Our Singapore office was launched in 2010 to invest in high tech startups in the region. Since then we have invested in more than 30 startups and have collaborated with various agencies of the Singapore and Indonesian governments, as well as partnered with multinational and regional corporations to run industry-specific accelerator programs. For more information, visit or email

About Astra International

Astra International is one of the biggest corporations in Indonesia spanning over 7 lines of business, operated through 226 companies and more than 226,000 employees under the umbrella. One of the main business lines is Financial Services and Insurance.

About PT Asuransi Jiwa Sequis Life

PT Asuransi Jiwa Sequis Life (Sequis Life) was established in 1984 with the name of PT Universal Life Indonesia (ULINDO) under the management of Gunung Sewu which later changed its name to Sewu New York Life (NYL) in 1992. In 2003, all NYL shares was acquired and changed its company name into Sequis Life focusing on serving individual and group customers through agency distribution channel that offers a diverse range of innovative products including life and health insurance.

Our strategic partnership with Nippon Life since 2014 based on sharing mutual trust, understanding and respect is aimed not only to strengthen our business position and distribution in Indonesia, but also enable both companies to share knowledge of best practices, good governance in life insurance business, and financial transparency.

By the end of 2018, Sequis Life owns a total asset of IDR 18,3 trillion, more than 385,000 policies and supported by over 15,700 professional agents.

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Plug and Play Fintech and Insurtech Singapore

Source: Plug and Play