Munish Sharda, Managing Director & CEO, Future Generali Life Insurance, discusses with BW|Businessworld's Sunil Dhawan how to make things simpler amd smarter for customersWhat are some recent initiatives taken by Future Generali life insurance?Future Generali Life Insurance has completed 8 years of business operations and I am happy to share that we have made significant progress across many fronts - sold over 11 lakh policies, created an agent network of 15,000 plus agents, made a mark in the employee benefit business and created an asset book of more than Rs. 2600 crore.Our key objective is to make things ‘simpler and smarter’. This begins with offering simplified product propositions, leveraging digital technology to enhance customer experience and enable operational efficiencies. Since the last one year, we have launched 5 unique products which cater to multiple needs across the customer’s lifecycle. All the products have a differentiated proposition which is in line with our simple to understand and customer-focused product strategy.Later last year we launched an enterprise wide effort to identify areas in our back office and mid office where automation and process re-engineering could help us improve speed & quality of delivery while reducing costs. As a result of which, we are happy to report good progress made in our claim settlement ratio and turn-around-time (TAT), servicing TATs, improvement in Persistency across our direct channels and overall risk governance across the organisation. Our front office is now able to offer a larger array of over-the-counter services to our customers, which is resulting in improved customer service and satisfaction.The two biggest drivers of our digital strategy are “enriching the customer experience” and “regaining more direct control of the customer relationship”. Our recently launched website, self-service platform for customers, to-be launched e-sales platform and highly simplified customer communications are aimed at delivering a differentiated experience to customers who are increasingly demanding simplicity and spontaneity in our actions.We run a very well managed employee benefits business drawing upon the expertise of and support from our Global Generali Employee Benefits programme. We have developed a unique portal to engage with our corporate clients and their employees by serving propositions specifically designed for them, in a way most convenient to them. The portal is an industry first as it allows our corporate clients to engage with us seamlessly and on real-time basis. We currently insure over 450 national and International corporate clients.How do you see the growth in the life insurance industry over next 1-3 years? What are those factors that could bring about a growth in a stagnating sector?The life insurance industry, which has seen some tough times during the last few years, is expected to grow 10-15 per cent in the current fiscal. A stable government and clear indications of expediting reforms have laid the foundation for India to regain the growth momentum, and the insurance industry is expected to benefit from the same and provide social security, employment as well as the means to deepen financial markets in India. The sector has already witnessed green shoots of improvement in terms of greater consumer awareness and trust, the proliferation of innovative products and distribution channels, and raised supervisory standards. For the industry to further unlock its potential, concerted action is required from all stakeholders.Insurance is an industry which can drive growth through multiple pillars of innovation, technology, product simplicity, seamless processes and value creation. It generates value for policyholders who lay their trust in an insurance product, for shareholders who back the business, for distributors who depend on it for their income and the insurance company itself which interlinks all the other stakeholders. It is this interlinking, which if done in a balanced manner while keeping the costs low, creates a long-term success story.What unique offerings can customers expect from Future Generali life insurance as far as products are concerned?At Future Generali Life Insurance, we have a wide variety of products including ULIPs in our portfolio. Our emphasis is to offer need-based and simple solutions to customers which help them plan for their long term financial goals. We have witnessed a strong positive movement in our traditional plans sales having sizeable protection and assured maturity benefits. Apart from the 5 products mentioned above, we are soon going to launch our first online term plan before the end of this year, which is extremely unique and will drive growth across markets. Most of our products are modular in nature and are structured based on our core philosophy of simplicity, keeping in mind the customers’ requirements. We have taken several steps to ensure that the products cater to all kinds of customers, can be bought through a hassle-free process, lesser documentation and most importantly are easy to understand so that they can make an informed decision.What is the company doing to better its customer service, both pre and post sales operations?Life insurance is a business in which both, the customer and the company derive financial value only by staying invested in the relationship over a long period of time. It is therefore important to be transparent in every transaction that we do. I believe that while selling is an act of persuasion; buying is an act of making an informed decision of choosing a product which meets one’s requirements. As a company policy, we always advise our policyholders to ensure that they have understood in detail the benefits of the product they are purchasing and always verify the credentials of the agent through whom they are buying the insurance policy and also to ensure that the application form is filled by them and correct, true and complete information is shared about their health, occupation and lifestyle habits.We have introduced stringent processes and protocols to avoid fraudulent and mis-selling cases. We have introduced a pre and post verification call system with every customer on a recorded line. On a regular basis, our customers are informed through various modes of communication to beware of any un-authorised elements posing as company representatives and avoid sharing any confidential information. There are significant efforts being taken by the company to ensure quality and transparency, keeping in mind the customer’s satisfaction at all times. We have embarked on a number of projects to simplify customer delivery using technology. Our new website that we launched in January this year is just one of those. We are working on a new individual customer portal, and will soon be launching our group customer portal and agent portal. Our aim is to automate all customer communication taking manual intervention out, and make it extremely easy to understand through a simplified policy document and proposal form which is small steps towards further enhancing customer experience. We have already launched the SMS self-service app which is available to customers 24/7. We have also undertaken new initiatives to make processes simpler for our branch operations staff.Is Generali group expected to shore up the capital base in the company and increase its share to 49 percent after the go-ahead to increase FDI?This is a shareholder decision and they will review the regulations and decide on next steps but we have fullest support of all our shareholders and board members and they strongly believe that we are uniquely positioned to break out and grow multi fold to be an insurer of scale.Any other important thing that you wish to share...We firmly believe that we are uniquely positioned in the market today to offer customers a truly differentiated experience. All our current and planned initiatives are centered on that. As you are aware, we were the first insurance company in India to pioneer the concept of Mallassurance which believes in a simple philosophy of availability, accessibility and affordability. We are in the process of redefining the model and shall soon come up with an Industry first approach to reach out to millions of shoppers and make insurance accessible to them. We will also be launching our online and group bancassurance business. We will continue to expand our distribution foot print via agency channel, deepen our customer base using direct channel and are excited about the Open Architecture opportunity in the Banca space.
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Delhi Duty Free (DDF), India's largest duty free retail space at T3, has partnered with the State Bank of India to reap savings of at least 42 per cent (Rs 750 cash back on shopping of $100 or more & at least saving of 30 per cent as compared to downtown prices) for the duty free shoppers. This is the first banking partnership for DDF that makes it an even more attractive shopping destination for connoisseurs of fine living.Abhijit Das, Marketing Head, DDFS, "Delhi Duty Free offers the widest choice to the global traveler, most exclusive range of international brands & at best prices in the region as compared to downtown prices. Top it up with the excitement of saving more with SBI card, shopping at Delhi Duty Free will truly be a delight and rewarding experience." Airport shopping is a popular trend worldwide and Delhi's Duty Free is no different. Every year nearly 9 million passengers travel through Delhi's T-3 (international terminal), which is perhaps the same number of some of the largest shopping malls in the city put together. Shoppers spend an average of 45-60 minutes milling through premium brands of alcohol, tobacco, fragrances, cosmetics & chocolates, fashion & accessories. Price advantage to a captive traveler audience presents a significant opportunity in airport retail."Some of the most high profile brands are exclusively available for the travel retail channel. Airport shoppers have an advantage of accessing these brands over high street shoppers and take them as memorabilia from Delhi Duty Free", added Das.Now it's the best time for the travelers to spend money on shopping at Delhi Duty Free Shop while travelling / holidaying. Most interestingly the passengers will not only get the cash back of up-to Rs 750 moreover they will have a chance to win the bumper prizes at DDF, which is organize every after 30-60 days at the DDF at Terminal 3.(BW Online Bureau)
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BW Online Bureau “India’s future as a socio economic powerhouse lies in realizing the untapped potential of youth”, this is the driving thought behind YES BANK Transformation Series. Launched in 2010 Transformation Series provides a platform for aspiring young leaders across the world to acquire innovative thinking, creative skills and apply their acumen and creativity to real world challenges. Disruptive innovations have transformed the global economy at large and the financial services industry in particular. This paradigm shift has made DIGICAL (digital and physical) presence essential for players in this industry. Against this backdrop YES BANK wants to focus on Disruptive Innovations as the theme for the 4th edition Transformation Series in 2015. The aim is to engage the brightest young minds from the best universities across the world to come-up with breakthrough disruptive innovations which could transform the financial services industry – a rapidly evolving and critical sector of the Indian economy. ParticipationIn the current edition the competition has already received participation of more than 13000 students in 5000 teams. The last edition had seen participation of 3000 teams from 500 colleges across the world. The CompetitionThe first phase of this exciting innovation completion is underway, where a case study has been given to all the teams and the best solutions will move to the next round. The first round will filter the 5000 teams down to 120 teams. These teams in the second round will work on the implantation strategy for the solution provided in the first round. Only 12 teams will qualify for the finals, slated to take place in November. The jury for this competition includes policy makers like Bibek Debroy, Member, NITI Ayog; CEOs and top industry leaders like Chaitanya Kamat of Oracle Financial Services, Vikas Agnihotri, Director, Google India; budding entrepreneurs like Vipul Parekh, Founder, Bigbasket.com and Venture Capitalists like Deepak Gaur, MD & CEO, SAIF Venture Partners. For more on the innovation completion, log onto:www.transformationseries.in
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Raghu Mohan points out that despite a 75 bps cut in the repo rate between January and June 2015, we only saw a 30 bps pass-on by banks A day after the Reserve Bank of India’s (RBI cut the repo rate by 50 basis points (bps) to 6.75 per cent, a clutch of banks went for a trim in their Base Rates (BR) – it ranges between 25 bps and 40 basis. The sharpest were by the State Bank of India and Punjab National Bank (both by 40 bps) to 9.3 per cent and 9.60 per cent. A reduction in bank BRs after Mint Road’s repo rate cut at first glance seems to suggest that the “transmission effect” is now in full play; that the clogs have been removed. After all, between the last policy and the just announced one, bank BRs (as presented in RBI’s Weekly Statistical Supplement) hardly moved: 9.7-10 per cent from 9.75-10 per cent. At end-March 2015, they were at 10-10.25 per cent levels (the same as in January before the first rate cut). Despite a 75 bps cut in the repo rate between January and June 2015, we only saw a 30 bps pass-on to you and I by banks. Mint Road noted the financial markets have transmitted its past policy actions (lower yields on commercial paper and corporate bonds), but banks had done so only to a limited extent (as in lending rates have been stubborn). So what’s changed now? Let’s flashback to September 1 this year when HDFC Bank cut its BR by 35 bps to 9.35 per cent; peers SBI and ICICI Bank held it at 9.7 per cent then. It was a pre-emptive strike by the bank ahead of the festive season, and it had in any case, been reducing its deposit rates over time – it was logical or it would have hit the bank’s net interest margin (NIM) in a big way. HDFC Bank’s rivals held their BR – perhaps in anticipation of a repo rate cut by RBI. What should not be lost sight here is that they did not feel it worthwhile to let go on the NIM front for market share; or in other words did not feel that HDFC Bank will gain much anyway – given the tepid appetite for credit. M B Mahesh, analyst at Kotak Institutional Equities had said at that point in time that it is not very clear on what the likely response from other banks will be as they need to strike a balance between growth and NIM outcomes. “Given the lack of growth, we ideally would want banks to cut deposit rates a bit more aggressively as lending rate cuts are unlikely to boost credit demand. The broad outcome of a negative NIM outlook for the sector is slowly playing out but we do not see this as an end. We see it getting worse as we see a weak investment cycle ahead. However, aggressive cut in NIM at a time of slow growth does not achieve the desired objective and only results in more capital consumption, which is counter-productive”, he had explained. But as Madan Sabnavis, chief economist at Care Ratings says: “The strange part is that banks are letting go on NIMs by not cutting deposit rates aggressively, but are cutting the BR”. What’s unsaid here is that North Block must have nudged banks cut their BRs. In the hope, it will fire the economy going ahead. What we now have is a situation wherein some bank have decided to take a hit on NIMs (to the extent they have not cut deposit rates). Another way to interpret is that a cut in the BR does not imply they will lend at the publicly declared “rack rate” (there is a mark-up of four per cent over the BR anyway). And there will not be a big hit on NIMs either; that BR cuts (for now) make for great theatre! Now let’s look at at credit offtake numbers. The increase in bank non-food credit during the financial year so far until September 4, 2015 was Rs 1,57,500 crore compared to Rs 1,12,400 crore during the same period last fiscal. As Sabnavis says: “While this does indicate an increase, the number is skewed on account of the sharp increase in the credit in the first fortnight of the new financial year, which is between March 20 (the reporting fortnight for considering bank credit for the year) and April 3rd. During this fortnight, the increase in credit was Rs 2,91,500 crore (Rs 79,400 crore), with a large part attributable to the loans taken in the context of the spectrum sale. “Since then, incremental credit has been in the negative zone”, he adds. It also need to borne in mind that this abysmal credit numbers above had nothing to do with high interest rates. It had more to do with the general downturn in the economy and the overhand of bad-loans on bank books. RBI’s Report on the Trend and Progress of Banking (2013-14; the latest) explained that the consolidated balance sheet of banks in 2013-14 registered a decline in growth in total assets and credit for the fourth consecutive year. “This decline could be attributed to a variety of factors ranging from slower economic growth, de-leveraging, and persistent pressure on asset quality leading to increased risk aversion among banks and also increasing recourse by corporates to non-bank financing including commercial papers and external commercial borrowings. With both credit and deposit growth more or less same, the outstanding credit to deposit (CD) ratio at the aggregate level remained unchanged at around 79 per cent”. The Report did cite high interest rates for this sorry state of affairs! It is also unlikely that a mere reduction in interest rates will lead to a spurt in economic activity. Just a few days ahead of Mint Road’s policy meet, India Ratings and Research told us that the capex cycle of the top 500 asset owning corporates (excluding banks and financial services) may be close to bottoming out, but qualified it. “While further downside to capex spending is limited, an immediate meaningful revival of private capex spending is unlikely. Factors such as subdued commodity prices and capacity utilisation levels close to decade lows provide limited motivation to private corporates to take up capex. The high leverage of a large number of corporates may limit their ability to take up even normal maintenance capex”, said Ashoo Mishra, Associate Director at India Ratings.
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In a falling interest rate scenario, investors who rely primarily on fixed income are badly hit. Sunil Dhawan explains how to rejig their retirement portfolio by banking heavily on small savings. On the day when markets, corporates and anybody who is a borrower rejoiced, a large portion of our investor community comprising of those who live on fixed income could have felt otherwise. The biggest casualty are the fixed income investors especially the retired citizens who rely on fixed income for their regular income needs. A big portion of their retirement portfolio go into bank fixed deposits and post office schemes including post office monthly income scheme and senior citizens savings scheme. With Reserve Bank of India, reducing repo rate by 50 basis points and forcing banks to lower the base rate, the deposit rate too has to fall but not necessarily in the same proportion. SBI, AXIS bank amongst others have already announced reduction in their deposit rates. Even though existing FD holder are not impacted till the FD matures, the reinvestment risk exists as future deposit will carry lower rates. Small Savings: Post office (PO) small savings rates are governed differently. In line with the committee's suggestions, the government had decided to align rate of interest on small savings schemes with G-Sec rates of similar maturity, with a spread of 25 basis points. The rates in PO instruments are re-set every year on 1st April. Today, when FD rates in banks are around 7.5 per cent, the PO rates are anywhere above 8.5 per cent and even 9.3 per cent for the senior citizens savings scheme (SCSS). It remains to be seen how the government can change the PO rates mid-way especially when PO rates are politically motivated too. How Bank Deposit Differ from Small Savings: There is no upper cap on investment amount in bank FD. However, for senior citizens savings scheme (SCSS) which is for a 5-year period and currently offering 9.3 per cent, the maximum that one may put in is Rs 15 lakh. Similarly, post office monthly income scheme (POMIS) with 8.4 per cent monthly return, has a limit of Rs 9 lakh and even PPF with 8.7 per cent return (not for fixed income savers) has a limit of Rs1.5 lakh. What To Do Now: Fixed income savers should maximise the investment in PO till the rates are high. In all probability, they would be re-set downwards come April. For all those investing in bank FDs for their regular income needs or otherwise too, the ‘Laddering’ approach will help. In Laddering, instead of putting the entire sum in a certain term-deposit, the sum is spread across term –deposits of varying maturities. For example, instead of putting Rs 5 lakh in 3-year deposit, one may spread across 1 lakh each in 1-year, 2-year…5-year deposits. What this approach does is to manage the interest rate risk. Laddering also helps in keeping your funds liquid. Higher amount can be put into the deposit offering the highest rate. End Note: Bank FD and even PO deposits, are however are not wealth creators but destroyers. The interest income is fully taxable and interest rates are almost in line with prevailing inflation rate. The real return therefore is low or negative in Bank FDs. This, however, does not deter investor’s especially retired investors to shun bank FD as they heavily depend on them for their regular income household needs. Laddering will help them avoid the temptation to predict and time the interest rate cycle and instead get the most out of every dip or rise in the rates. Lastly, ensure you have some funds exposed to equities primarily through balanced mutual funds to take care of inflation.
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With most banks having transmitted the rate cut benefit to consumers, the leeway to cut more still exists, writes Sunil Dhawan Here’s what has changed for all those who are servicing loans and paying EMIs. With Reserve Bank of India reducing the policy rate by 50 basis points on 29 September, the quantum of the fall stand at 1.25 per cent over the last 12 months. The repo rate currently stands at 6.75 per cent, down from 7.25 per cent earlier, while it was 8 percent exactly a year ago. Loans are linked to base rate of banks which in turn depends on repo rates. Over the last 24 hours, SBI, Axis bank, UCO, OBC, Andhra Bank have already reduced their base rate. HDFC incidentally had cut its base rate on 1st September. Overall, the cut is anywhere between 0.1 to 0.4 per cent, thus leaving a room for further cuts. Home loans being a secured mortgage, the interest rate is the lowest when compared to personal and auto loans. In case of personal loans and auto loans (typically 0.35 per cent higher than base rate), they are largely on fixed interest rates. Hence, the impact of base rate cut on them is marginal. Once repo rate (rate at which bank borrower funds from RBI) falls, cost of funds of bank’s reduces, although not necessarily by same proportion. When cost of fund reduces, it gets reflected in the banks base rate. Bank base rate is the rate below which they cannot lend money to corporates, individuals or whoever looking to borrow money from banks. Cut in repo rate therefore calls for a reduction in base rate. The impact of repo rate cut on the home loan market is two-dimensional. One, it brings relief to existing home loan takers who are paying flexible interest rate while the other dimension is how far will it impact new home loan takers. The latter, in turn depends on other factors including fair property values and the general sentiment in the economy. Until buyers of new property finds value in new homes and the economic sentiment picks up, the repo rate cut may not serve the purpose to its fullest. Yes, for those sitting on the side lines, having selected the home, the time is ripe. Let’s see how a fall in base rate impacts home loan on flexible interest rate. The Impact on Loan Tenure: A 0.25 per cent reduction may not appear to be a big advantage but over period of time if rates keep falling and banks continue passing on the benefit, the cumulative impact could be huge. Let’ assume, outstanding amount on a home loan is Rs 10 lakh, with 20 years remaining and at an interest rate of 10.50 percent at an EMI of Rs 9,983. If rate falls by 0.25 percent, keeping the EMI constant, the tenure falls by about 13 months. If the rate is reduced by 0.5 percent, the effect translates into nearly 24 months and you would end your loan much earlier. The Impact on EMIs: The immediate and most visible impact is on the EMI’s. Let’s say the EMI on Rs 40-lakh loan for 15 years at 9.85 percent is Rs 42,618. If there is a 0.4 per cent decrease in home loan rate, the EMI falls to Rs 41,648, a cool savings of Rs 970 a month. The Impact on Interest Burden: The bigger impact is on the total interest burden. In the example above, the total interest burden on the Rs 40 lakh loan if run till 15-years comes to Rs 36, 71,220. When rate falls from 9.85 to 9.45, a 0.4 percent reduction in rate translates into interest savings of Rs 1,74,000. Existing Home Loan Holders: Existing home loan holders can have different options to approach the situation. If existing rate is still high, even after your banker has reduced rate, think of a switchover or refinancing. Refinance from another bank where the differential is at least 20 basis points. Do account for processing fees and any other charges while shifting loan from one bank to another. Most banks waive off processing fees during festive season. What To Do: For someone with an existing a home loan, the benefit can be availed in two ways-- either EMI’s may be reduced or the tenure may be reduced. Banks on their own typically reduce the tenure automatically and thus transfer the benefit of lowering base rate to their customers. Ask your banker, how has the adjustment been done or log on to your home loan account online to see if the benefit has been passed on to your account. If you wish to lower your EMI, you need to contact your banker and may have to submit revised ECS mandate. As a new home loan taker, if you have already made up your mind and selected the home of your choice, it time to approach bank for the loan on flexible rate of interest.
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E-commerce companies that will be successful can be classified into two categories. One, that allows penetration in the under penetrated areas, and two, that allows to improve capacity utilisation of idle asset and thereby extract economic value, says MK Sinha, managing partner and CEO of IDFC Alternatives, a leading multi-asset class investment manager in the country to BW Businessworld’s Paramita Chatterjee. The firm is looking at investment opportunities in areas such as food and agriculture, healthcare, value-added telecom, among others. Tell us something about your next fund. It is learnt that IDFC Alternatives is in the process of raising $600 million from its two funds. One, PE and the other, a real estate fund.As a matter of principle, I cannot share any news pertaining to our fund raising activity. However, having said that, we have three funds under the IDFC umbrella which we have completely exhausted. In fact, not only have we finished deploying the entire capital under these three funds in December 2013, we have also been on an exit mode for the past one-and-a -half years and have focussed on returning capital to our investors. In the next couple of weeks, we will be announcing another large exit after which we will be completing a full investment cycle with a track record of successful exits from the first 2 funds. What is your overall outlook of the PE industry?Currently, there are a lot of interesting opportunities in diverse sectors. While we started as a core infrastructure fund, we have now diversified into making investments in other sectors such as food and agri, healthcare and value-added telecom, among others. To elaborate on this, our fund 1 was focussed on core infra projects, while fund 2 primarily dealt with investments in the infra and infra-enabled sectors. It is the third fund from which we started making investments in social infra sector which also includes some of the sectors that I just mentioned. Traditionally, infrastructure was one sector that evinced tremendous investor interest. However, in recent times, the number of investments in this space has really fallen. What is your take on that? Also, is that the reason why you have shifted your focus on other conventional sectors?Well, there are a few issues in infrastructure that need to be resolved first. In fact, a lot of things are stuck due to regulatory hurdles. Currently, there is not much action in the sector and existing promoters are rather looking to sell their distressed assets. There are no power plants that have come up in the past 3 years. Also, no headway has been made as far as amendments are concerned in the land acquisition bill, even as the new government is doing its bit to push it. Things are over all very slow in this space. Fund managers seem to be very gung-ho about the new age sectors such as e-commerce that is riding on the domestic consumption story. What is your take on it? Any plans of foraying into this space going forward?First, it is absolutely important to understand how to make money. While this is a sector that is witnessing a lot of action, there are lots of e-commerce companies that don’t make any sense in terms of business. However, that is not to say all businesses are bad. As much as 20-30 per cent of ideas are fantastic and going forward, they are the ones that will stand out. E-commerce companies that will be successful can be classified into two categories. One, that allows penetration in the under penetrated areas, and two, that allows to improve capacity utilisation of idle assets and thereby extract economic value. In the next 2-3 years, it will be interesting to see which ones actually succeed.
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RedDoorz, South East Asia’s first platform to offer budget accommodations across key business and tourist destinations in South East Asia, on Wednesday (30 September) announced that it has received an undisclosed amount of pre Series A funding led by Jungle Ventures. It further announced that Philip Wolf, Founder PhoCusWright and Ajay Bakaya, Executive Director at Sarovar Hotels & Resorts, both travel and hospitality industry veterans have joined the company’s Strategic Advisory Board to help accelerate it's growth and product success in its segment. RedDoorz is South East Asia’s first asset light budget accommodation brand and service offering for hotels, resorts, inns, service apartments, B&Bs and guesthouses. It provides budget accommodation owners access to expert advice and assistance to standardize their offering and directly distribute online via RedDoorz technology platform. Under the RedDoorz brand and service umbrella, these properties will also receive continued guidance to build repeat business and see higher online occupancies of up to 50 percent. To the consumer, a RedDoorz branded accommodation will mean receiving a consistent experience and great prices, complimented by the brand’s trust and security. “The Asia Pacific region is expected to receive 27 per cent of global tourist arrivals by 20201. Travelers are increasingly expecting a personalized stay and hotel owners have to adapt using technology, social media and other innovations to deliver a more customized experience. Today budget accommodations have fragmented and non-uniform experiences that affects the consumer satisfaction which can lead to negative reviews on social media and declining footfalls said Amit Saberwal, CEO & Founder, who previously was Chief Business Office of MakeMyTrip, India’s largest OTA which has been listed on NASDAQ since August 2010. Jungle Venture is a Singapore based venture firm that invests and helps build tech category leaders in Asia.
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