Indonesia-based insurTech company Qoala has on Tuesday announced the addition of two key leaders, Randy Lianggara and Yujun Chean, to its board as part of its regional strategic moves to bolster its presence in the region as the premier provider of diverse protection products.
Qoala said in a statement that the firm is committed to revolutionizing insurance accessibility through technological innovation and the addition of Randy Lianggara and Yujun Chean to the board highlights Qoala’s dedication to enhancing its board team with experienced professionals capable of driving growth and delivering exceptional service across Southeast Asia.
It is noted that since 2021, Qoala has achieved substantial growth: gross written premiums (GWP) have increased by over seven times, the number of agent partners has expanded by over four times, and now Qoala is a multi-country regional leader that operates in Indonesia, Malaysia, Thailand, Vietnam, and Philippines.
The firm said these milestones underline its resilience and growth within the challenging landscape of the pandemic.
Following its Series C funding this year in March, the company is carrying out employee’s share buyback program or employee stock option plan (ESOP) for the second time in which Qoala is one of the few companies in Southeast Asia undertaking such initiatives amidst the challenges in the tech industry in recent years, showing the confidence in its solid business performance.
In line with this momentum, Randy Lianggara, who currently serves as the Regional Chief Executive Officer for Asia at AVIVA and has overseen operations at AVIVA Singlife Holdings, a leading insurance company in Singapore, is set to join Qoala.
Brings nearly three decades of experience in the insurance industry across Indonesia and Asia, Lianggara is poised to further strengthen Qoala’s presence and strategic impact in Southeast Asia.
Complementing this leadership addition, Yujun Chean, previously the Co-Founder and Chief Executive Officer of FairDee, a successful InsurTech firm in Thailand acquired by Qoala in 2021, now joins Qoala as Group Chief Operating Officer.
With over twenty years of expertise and a track record in strategy development and team leadership, Chean is expected to drive operational excellence and contribute significantly to Qoala’s regional business expansion.
“We are delighted to welcome Randy and Yujun to the Qoala team. Their leadership and deep industry knowledge will be a huge booster to our regional strategic moves,” said Harshet
Lunani, Founder and Chief Executive Officer of Qoala.
Building on Qoala’s positive momentum and recent leadership expansion, Lunani highlighted the company’s deep appreciation for its employees through its second ESOP buyback.
“Our recent growth is a testament to the invaluable support of our team,” he said.
According to him, the ESOP buyback program underscores the firm’s commitment to recognizing their contributions.
“It reflects our strong business performance amidst the dynamic tech industry landscape and aims to further bolster our team’s confidence in our continued growth and future,” he added.
According to the statement, this buyback program is one of the many ways Qoala demonstrates its commitment to its employees.
By acknowledging their efforts and dedication, Qoala aims to inspire employees to remain with and grow alongside the company.
Launched for the first time in 2022 following Qoala’s Series B funding, this program is available to all employees with ESOPs, emphasizing the company’s belief in their crucial role in Qoala’s ongoing success.
It is noted that Qoala has partnered with more than 260 insurance partners in five countries, namely Indonesia, Malaysia, Thailand, Vietnam, and Philippines.