Openplan

On-demand micro-insurance for daily life activities, powered by the Toggle platform

Distribution & Sales Growth Series A

Overview

Openplan is an embedded insurance platform provider for digital businesses, focused on micro-insurance and on-demand lifestyle insurance products in the Asia-Pacific market. The company offers B2B technology solutions that enable carriers and digital platforms to distribute short-term, activity-based insurance products through API integrations.

The company's primary product, Toggle, is a mobile-first platform that delivers daily, hourly, and activity-triggered insurance covering categories such as travel, golf, driver's, leisure, camping, and fishing insurance. Customers can activate and deactivate coverage on demand via mobile app or web. The Toggle API extends this capability to enterprise partners, providing automated billing, rapid deployment, and seamless embedding of micro-insurance into existing digital customer journeys.

Openplan completed a Series A round of approximately KRW 3 billion (USD 2.3M) in June 2022 led by FuturePlay and Plug and Play Ventures, with participation through the South Korean TIPS Program. Total funding stands at approximately USD 3.37M. The company has received a TI-3 technology evaluation rating from SCI Evaluation Information and is included in the CBInsights Insurtech Expert Collection.

Products & Services

Toggle

An on-demand micro-insurance consumer platform offering short-term, activity-based insurance products. Users can subscribe to coverage by the day, hour, or activity type and toggle policies on or off as needed.

Key Features

Daily, hourly, location-based, and activity-based insurance subscriptions
Non-face-to-face digital claims processing
Mobile app and web access for policy management
Coverage categories including travel, golf, driver's, leisure, camping, and fishing insurance

Target Users: Individual consumers in South Korea and Southeast Asia seeking flexible, short-duration insurance