Indonesian insurtech firm Qoala’s losses for the financial year ended Dec 31, 2021, ballooned 2.6 times to $10.36 million on the back of significantly higher expenses, per a regulatory filing by its Singapore-registered parent company.
Founded in 2018, Qoala focuses on retail insurance, which includes protection for cars, bikes, homes, and health. It also distributes insurance products through digital platforms such as Shopee, Traveloka, DANA, Redbus, Kredivo, and Investree.
