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Indonesia's Ovo joins ZhongAn-SoftBank alliance for insurtech

E-wallet operator aims to leverage rising demand amid COVID crisis

Ovo says that the new service will be ready next year and that it will draw on ZA Tech's proprietary technology and applications.. (Photo by Jun Suzuki)

JAKARTA -- Indonesian mobile wallet Ovo has partnered with ZA Tech -- a joint venture between Chinese online insurer ZhongAn and SoftBank's Vision Fund -- to create an insurance-technology platform, Ovo announced on Tuesday through its holding company, Bumi Cakrawala Perkasa.

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