The full-stack insurtech quietly wiring insurance into the apps, jobs and checkouts of Southeast Asia.
PolicyStreet is not trying to reinvent the insurance policy. It is trying to fix the far harder problem sitting underneath it: distribution. Founded in Kuala Lumpur in 2016 and operating under the holding company Polisea, the group has spent a decade turning insurance from something you go and buy into something that quietly arrives where you already are - inside a food-delivery app, an HR portal, a product checkout.
The company describes itself as a full-stack insurtech. In practice that means it partners with more than 40 life, general and Takaful providers and then handles the parts insurers historically did badly: the digital shopfront, the embedded plumbing, the claims workflow, and the advice. It sells three ways - business-to-business, business-to-business-to-consumer, and direct-to-consumer - and stitches them onto a single technology stack.
A regional footprint, built partner by partner
PolicyStreet operates across Southeast Asia and Australia, serving over 10 million customers - a figure that has doubled from 5 million. Its total sum insured now exceeds US$10 billion. The growth has been deliberate rather than explosive: coverage embedded one platform at a time, one gig-work fleet at a time.
The through-line is the region's stubborn protection gap. Millions of millennials, Gen Z workers, urban dwellers and underserved communities have never held a policy, largely because nobody could reach them affordably. PolicyStreet's answer is to remove the friction rather than the price - and let access do the selling.
"What we wanted to do was beyond the sandbox."
Three audiences, one gap.
PolicyStreet's customers fall into three buckets. There are enterprise and platform partners - the insurers, banks and apps that plug embedded coverage into their own products. There are SMEs that use its Digital HR Portal and employee-benefits tools to manage group coverage without the paperwork. And there are consumers, many of them buying insurance for the first time.
The sharpest example is the gig worker. More than 275,000 delivery riders, drivers and freelancers now carry protection through PolicyStreet - people who move between employers and previously fell through every crack in the traditional system.
Compare, buy and renew motor, life, general and Takaful policies online from 40+ providers.
API-driven, white-label coverage baked into partner apps, checkouts and platforms (B2B2C).
Customisable group coverage with self-serve tooling for SMEs to manage benefits and claims.
Track protection across multiple employers and submit claims anytime, anywhere.
Device and product protection paired with a fully digital claims workflow.
Licensed financial advisory plus custom-built insurance technology for enterprise partners.
Own the whole stack, capture the whole chain. PolicyStreet earns commissions and distribution fees on policies sold through its marketplace, technology and platform fees from embedded and enterprise partners, and service fees from advisory and employee benefits.
Because it controls distribution, technology and claims end-to-end, it captures margin at multiple points rather than acting as a thin referral layer. That structure is what let it do the rare thing among insurtechs in 2025 - post a profit.
REVENUE ENGINES
In 2026 PolicyStreet closed the first tranche of its Series C at US$21 million (RM84 million), led by Japan's Cool Japan Fund - the largest insurtech round in Malaysian history. Impact investor BlueOrchard later joined the cap table with an additional US$5 million, lifting the round to US$26 million.
The raise sits alongside existing backers Khazanah Nasional, Altara Ventures and Gobi Partners, and follows the company's first profitable financial year. Management has said it is targeting to double revenue in 2026.
"Profitability proves our full-stack insurtech model can scale."
SERIES C, US$ MILLIONS
INVESTORS
A Certified Financial Planner with 20+ years across Maxis, Standard Chartered, Citibank, HSBC and Andersen Consulting.
Drives operations and partnerships behind PolicyStreet's embedded and enterprise business.
Leads product, shaping the tools that make coverage simple for consumers and SMEs.
The moat is the plumbing, not the app
Plenty of insurtechs compete on a slicker interface. PolicyStreet competes on being the regulated, full-stack layer underneath - holding the licenses, integrating the insurers, and running claims. Its CEO argues that even as AI platforms reshape how quotes are generated, someone still has to underwrite the risk and pay the claim. That regulated infrastructure is hard to copy.
Its embedded and B2B2C reach also sets it apart from pure aggregators. The foodpanda partnership - automatically covering p-hailing riders while they work - is the model in miniature: protection delivered before anything goes wrong, with no sign-up.
Where it sits in the market
PolicyStreet operates in a competitive regional insurtech field alongside players such as Bolttech, Igloo, Qoala and PasarPolis, plus insurers' own direct channels. Its distinguishing bet is breadth of stack plus discipline on economics.
Launches in Kuala Lumpur distributing term-life policies, testing inside Bank Negara Malaysia's sandbox.
Expands into licensed financial advisory and bespoke digital insurance solutions.
Launches customisable group coverage and self-serve HR tooling for SMEs.
Rolls out cross-employer coverage tracking and claims for gig workers.
Named Fintech of the Year at The Asset's Triple A Digital Awards.
Reports US$1M+ profit and passes 10 million customers and US$10 billion sum insured.
Closes Malaysia's largest insurtech round, led by Cool Japan Fund with BlueOrchard joining.