Indonesia's Ovo joins ZhongAn-SoftBank alliance for insurtech

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.

Ovo said the new service will be ready next year and that it will draw on ZA Tech's proprietary offerings. "The platform will anchor on supporting our customers and business partners, including insurance companies and partners," Ovo's head of corporate communications Harumi Supit told KrASIA.