Malaysia-based insurtech startup PolicyStreet has beat seven startups to win the best startup award at this year’s Seedstars Kuala Lumpur.

The startups pitched to a panel of judges consisting of Hassan Alsagoff from Mountain Partners Malaysia, Mohd Ridzwan Nordin from Khazanah, Joseph de Leon from Gravitas Prime, Juliana Jan from Cradle, Rebecca Kux from 500 Startups, and Rosie Keller from Seedstars.

Following this, PolicyStreet will proceed to compete with 75 other international startups — including Singapore’s FinChat — at the global Seedstars Summit held in Switzerland next year. Over there, it will also attend a week-long bootcamp with international mentors and investors and stand a chance to win up to US$1 million in equity investments.

Founded in 2017, PolicyStreet sells a wide range of curated and simple insurance policies. It offers insurances products for common consumer needs such as travel, dental and personal accidents as well as niche ones such as musical instruments, photography gear and pets.

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Additionally, PolicyStreet has partnered with UForLife, a major online term life provider in Malaysia by Tokio Marine Life and Handover Re, to offer term life insurances.

The startups that came in second and third place were UMAI and CheQQme, respectively.

UMAI is a restaurant operations and CRM platform while CheQQme is an online-to-offline customer gamification platform.

The other five startups that participated were:

  • BAWA, a smart cane for the visually impaired;
  • MoneyMatch, a p2p currency exchange platform;
  • PasarTap, a grocery delivery platform for local fresh food;
  • Moovby, a p2p car rental platform;
  • VieXas, a technical expertise and source code sharing platform for employees.

Image Credit: PolicyStreet