Vouch Insurance is thrilled to announce that we have successfully raised $185 million in our latest funding round, a significant milestone that will empower our mission to revolutionize the insurance landscape in Singapore. As a pioneering insurtech platform dedicated to private communities, Vouch Insurance stands at the forefront of innovation with our unique "No-Claim Rebate (NCR)" system. This initiative, the first of its kind in Singapore, offers car insurance policyholders up to 15% cash back if they remain claim-free, in addition to existing No-Claim Discounts. Our platform enables customers to maximize their rebates by forming communities of safe drivers, ensuring a fairer and more transparent insurance experience.
The capital raised will be strategically deployed to enhance our technological infrastructure, broaden our partnerships with major insurers including NTUC Income, Sompo Insurance Singapore, and Tokio Marine Insurance Singapore, and expand our customer base. Our recent selection by global reinsurer Swiss Re to participate in their prestigious InsurTech Accelerator 2017 program underscores our commitment to innovation and our potential to disrupt traditional insurance practices. With this funding, we are well-positioned to further develop cutting-edge solutions that not only benefit our customers but also contribute to a more sustainable insurance ecosystem in Singapore. We are excited about the journey ahead and remain dedicated to creating a comprehensive and user-friendly insurance experience that puts our customers first.
