Insurtech platform PolicyStreet has appointed former Carousell Malaysia country head Tang Siew Wai as its new Chief Digital Officer to spearhead the company’s growth strategy.

Prior to joining PolicyStreet, Siew Wai established Carousell’s local office in Malaysia and helped make Carousell a preferred marketplace for second hand items in the country.

He was also the CEO of ModeFair, the Country Head (Malaysia & Middle East markets) for Reebonz, and the Regional Marketing Director at Huawei responsible for seven South Pacific countries.

Founded in 2016, PolicyStreet is an insurance platform that provides reinsurance, general insurance, and financial advisory services. Its partner insurance companies include CTOS and AirAsia Money.

The company previously raised a RM25 million Series A in 2021 and was approved by Bank Negara Malaysia (BNM) to provide financial advisory services in 2019.

“ASEAN’s insurance penetration is at 3.5% of GDP and is about 60% of the global average, with protection gaps in life, health and disaster coverage.

 

To better serve the uninsured and underinsured, we’re looking to drive the digital overhaul of the traditional insurance sector. Understanding the need for expertise in this area, we’re proud to have Siew Wai onboard,”

said Lee Yen Ming, Chief Executive Officer of PolicyStreet.

“Yen Ming and I met during our stints in the telecommunications industry about 15 years ago, and I have been observing PolicyStreet since its inception.

 

As someone who has a passionate interest in disruptive tech, I was really impressed with its growth traction and how it has been helping SMEs and consumers bridge the protection gap in the market by innovating in the hard-to-crack insurance space,”

said Tang Siew Wai, Chief Digital Officer of PolicyStreet.