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Announcing The New Board Of Directors And The ESOP Buyback Program, Qoala Is All Set To Boost Business Growth

Qoala, a leading InsurTech company in Southeast Asia, has announced the addition of two key figures, Randy Lianggara and Yujun Chean, to its management team. This move is part of a strategic effort to boost its presence and dominance in the region as a top provider of various protection products. Since 2021, Qoala has seen impressive growth: its Gross Written Premiums (GWP) have skyrocketed more than seven times, the number of agent partners has increased over fourfold, and the company now operates in several countries, including Indonesia, Malaysia, Thailand, Vietnam, and the Philippines. These achievements highlight Qoala's resilience and growth during the challenging pandemic period. Following a Series C funding round in March this year, Qoala launched its second employee stock option plan (ESOP), making it one of the few companies in Southeast Asia to take such an initiative amid the tech industry's recent challenges, showcasing its strong business performance. In line with this momentum, Randy Lianggara, currently the Regional CEO for Asia at AVIVA and overseeing operations at AVIVA Singlife Holdings, a leading insurance firm in Singapore, will be joining Qoala. With nearly three decades of experience in the insurance industry across Indonesia and Asia, Randy is set to enhance Qoala's strategic presence and impact in Southeast Asia. To complement this strategic move, Yujun Chean, who was previously the Co-Founder & CEO of FairDee, a successful InsurTech company in Thailand that Qoala acquired in 2021, will now join Qoala as the Group Chief Operating Officer.

With over twenty years of expertise and a solid track record in strategy development and team leadership, Yujun is expected to enhance operations and make a significant impact on Qoala's regional business expansion. "We're thrilled to welcome Randy and Yujun to the Qoala team. Their leadership and deep industry knowledge will undoubtedly be a major boost for our regional strategic initiatives," said Harshet Lunani, Founder & CEO of Qoala. In addition to positive business performance and the addition of these two key figures, Harshet highlighted the company's efforts for its employees through the second ESOP buyback program. "The ongoing positive growth we’re experiencing is a testament to the support from Qoala employees," he stated. "The ESOP buyback program is designed to reaffirm our commitment to valuing their contributions. This initiative also reflects our strong business performance, even amidst the changes in the tech industry, and aims to further build the team's confidence in the company's growth and future." This buyback program is one of the ways Qoala shows its commitment to appreciating its employees. By recognizing their efforts and dedication, Qoala aims to motivate its staff to continue growing alongside the company. Launched for the first time in 2022 after the Series B funding, this program is available to all employees with ESOP, demonstrating the company's belief in the crucial role employees play in Qoala's ongoing success. Qoala is dedicated to revolutionizing insurance accessibility through technological innovation, and the addition of Randy Lianggara and Yujun Chean to the management team underscores the company's commitment to enhancing its leadership with experienced professionals who can drive growth and help Qoala deliver top-notch services in Southeast Asia.

Tag: AVIVA ESOP Qoala Randy Lianggara Southeast Asia