Tang Siew Wai joins PolicyStreet, a regional insurance technology company that provides reinsurance, general insurance, financial advisory services, and innovative digital solutions with aims to drive digital transformation within the conventional insurance industry. As Chief Digital Officer, Siew Wai will be spearheading the development of growth strategy for PolicyStreet with a focus on strengthening its market position, forging strategic alliances, and driving growth initiatives.
“ASEAN’s insurance penetration is at 3.5% of GDP and is about 60% of the global average, with protection gaps in life, health and disaster coverage. To better serve the uninsured and underinsured, we’re looking to drive the digital overhaul of the traditional insurance sector. Understanding the need for expertise in this area, we’re proud to have Siew Wai onboard,” says Lee Yen Ming, Chief Executive Officer of PolicyStreet.
“Siew Wai’s appointment is part of PolicyStreet’s growth strategy to expand its share of voice both locally and regionally. With over 20 years of experience in a myriad of technology and digital-related industries, we’re confident that Siew Wai can lead and scale successful businesses in this region,” says Yen Ming.
“Yen Ming and I met during our stints in the telecommunications industry about 15 years ago, and I have been observing PolicyStreet since its inception. As someone who has a passionate interest in disruptive tech, I was really impressed with its growth traction and how it has been helping SMEs and consumers bridge the protection gap in the market by innovating in the hard-to-crack insurance space,” says Siew Wai, Chief Digital Officer of PolicyStreet.
“It’s an honour to take up this important role to spearhead PolicyStreet’s growth and market expansion, and I’m excited to be working alongside Yen Ming and his leadership team to deliver the next level of growth and value for consumers and our business partners,” added Siew Wai.
Prior to joining PolicyStreet, Siew Wai was the main driving force behind the accelerated growth of Carousell Malaysia in his capacity as Country Head. He established the local office in Malaysia, and has successfully led the execution of many impactful projects to make Carousell a preferred marketplace for millions of users to buy & sell second hand items in Malaysia.
Previously, he held various leadership roles such as the CEO of ModeFair, the Country Head (Malaysia & Middle East markets) for Reebonz, and the Regional Marketing Director at Huawei where he was responsible for the market development of 7 countries in the South Pacific Region for the telecommunications company. Siew Wai also holds a 1st Class Honours Degree in Business Information Technology from Coventry University, UK.
“Fostering a merit-based, purposeful work environment and providing growth opportunities to all employees are, in our opinion, some of the factors behind our rapid success. We’re proud of our efforts in cultivating an equitable workplace, successfully recruiting notable industry talents,” added Yen Ming.
PolicyStreet.com is an insurance technology company which advances inclusive insurance in South East Asia. It is a regional Reinsurer and General Insurer licensed by the Labuan Financial Services Authority and an approved Financial Adviser and Islamic Financial Adviser from Bank Negara Malaysia. It currently underwrites its own reinsurance products and works directly with 40 life and general insurance and takaful providers in offering various insurance products and services. In 2022, the company was named as one of the 100 Leading Emerging Giants in Asia Pacific by KPMG and HSBC. In 2020, it received the Young Entrepreneurs’ Award by ASEAN Business Advisory Council (ASEAN-BAC).
 EU-ASEAN Business Council Launches Insurance Sector Report On Digital Growth And Sustainable Development, EU-ASEAN Business Council, 3 April 2019