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Senang

Embedded insurance and digital financial protection for cooperatives, fintechs, and digital platforms in Southeast Asia

Distribution & Sales Startup Seed
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Overview

Senang is an embedded insurance distribution platform for cooperatives, digital platforms, and fintechs in Southeast Asia. Founded in 2018 by Sharian Raj and Ezekiel Michael, the company operates as a B2B2C solutions provider, enabling partners to embed digital insurance and financial protection products into their existing services via API. Senang focuses on reaching underserved markets including MSMEs, cooperative members, and gig workers in Malaysia and the Philippines.

The platform delivers a modular suite covering policy management, claims processing, loan financing, and micro-insurance underwriting. An API-first architecture allows partners to integrate insurance workflows into banking, lending, and cooperative platforms without building insurance infrastructure from scratch. Senang works with 12 or more insurance and takaful providers to offer device protection, personal accident, travel, and loan protection products.

As of 2025, Senang serves 3.5 million cooperative members and issues 50,000 or more digital policies monthly across Malaysia and the Philippines. The company raised USD 1.35M from investors including Artem Ventures, Orbit Capital, Kejora Capital, and 1337 Ventures. Recent expansions include the GoodProtect loan insurance product for Filipino rural banks (2024) and the DreamSecure financial protection plan for overseas Filipino workers launched with iRemit (2025).

Products & Services

API Module

Production-ready API integrations for embedding insurance workflows into partner platforms. Enables cooperatives, fintechs, and digital platforms to distribute insurance products without in-house insurance infrastructure.

Key Features

  • REST API for policy issuance, renewals, and cancellations
  • Integration with 12+ insurance and takaful providers
  • White-label capability for partner branding

Target Users: Fintechs, cooperatives, digital lending platforms

Policy Management Module

End-to-end lifecycle management for digital insurance policies, from issuance through renewals and lapses.

Key Features

  • Automated policy issuance and renewal workflows
  • Multi-product support across device, travel, and personal accident lines
  • Reporting and reconciliation tools for partners

Target Users: Insurance partners, platform operators

Claim Module

Paperless claims submission and real-time tracking system.

Key Features

  • Digital FNOL submission for policyholders
  • Automated status tracking and notifications
  • Integration with insurer claims workflows

Target Users: Policyholders, partner platforms

Loan Financing Module

Digital premium financing with installment options to reduce barriers to insurance adoption among low- and middle-income consumers.

Key Features

  • Installment-based premium payment
  • Integration with lending and cooperative platforms
  • Designed for underserved income segments

Target Users: Cooperatives, rural banks, MSME-serving fintechs

Micro-Insurance Module

Simplified underwriting engine designed for high-volume, small-value policies targeting the underserved market.

Key Features

  • Bite-sized coverage for device protection, screen crack, cleaning, and personal accident
  • Pay-as-you-go and subscription-based policy options
  • Suitable for gig workers and low-to-middle-income individuals

Target Users: Individual consumers, gig workers, MSME owners

GoodProtect (Philippines)

Loan protection insurance product tailored for rural Filipino banks, distributed in partnership with GoodTech.

Key Features

  • Credit-linked protection for cooperative and rural bank borrowers
  • Simplified enrollment tied to loan origination
  • Targets 1 million customers across the Philippines

Target Users: Rural banks, cooperative lenders

DreamSecure Plan (Philippines)

Financial protection and savings product for overseas Filipino workers (OFWs), combining endowment insurance, unit trust investment, and personal accident coverage.

Key Features

  • Combined endowment, investment, and protection product
  • Distributed through iRemit's remittance network
  • Designed for OFWs sending remittances home

Target Users: Overseas Filipino workers, iRemit customers

At a Glance

Founded
2018
Headquarters
Kuala Lumpur, Malaysia
Employees
1-10
Funding
Seed

Category & Focus

Category
Distribution & Sales
Subcategories
Embedded Insurance Microinsurance API Platform
Insurance Verticals
P&C Personal Specialty/E&S Life & Annuity
Target Customers
Carriers, MGAs/MGUs, Consumers

Customers

  • Cooperatives across Malaysia (3.5 million members served)
  • Rural banks in the Philippines (via GoodTech)
  • iRemit (largest Filipino-owned non-bank remittance provider)
  • Digital platforms and fintechs across Malaysia and Philippines

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Last updated: 2026-05-18