Insuring the Future: Startups, AI, and Lessons from Singapore
Before this winter, insurance was just an abstract concept to me - a “boring” area of law confined to lecture halls, dense clauses, and policy documents that felt distant from reality. As a law student, I approached it with academic curiosity but little enthusiasm. That all changed when I stepped into the vibrant, fast-paced world of a startup in Singapore; an experience that reshaped my perspective on risk, innovation, and the intersection of law, technology, and entrepreneurship.
Through the UQ Ventures Startup AdVentures program, in partnership with Accelerating Asia, I spent 4 weeks as a volunteer intern at Toggle Pte Ltd, an insurtech startup backed by Samsung and part of the South Korean OPENPLAN group. Toggle’s mission is to revolutionise insurance in Southeast Asia by making it smarter, faster, and more accessible through cutting-edge technology tailored for emerging markets.
What I expected to be a routine internship became a transformative journey that challenged my assumptions, expanded my skill set, and inspired me to pivot from a traditional legal career toward entrepreneurship and AI.
The UQ Ventures Experience: A Gateway to Innovation
The UQ Ventures Startup AdVentures program was the catalyst for this life-changing experience. As part of The University of Queensland’s (UQ) entrepreneurship ecosystem, UQ Ventures empowers students to step beyond academic boundaries and tackle real-world challenges. The program’s partnership with Accelerating Asia, a venture capital fund and startup accelerator, connected me with innovative companies in Singapore’s dynamic startup hub, offering unparalleled access to founders, mentors, and industry leaders.
Over the 4 week program, I engaged in workshops on investor pitching, design thinking, and market analysis, which equipped me with practical skills to navigate the startup world. These sessions taught me to think strategically and creatively, skills I applied directly at Toggle. Networking events with UQ alumni thriving in Singapore’s entrepreneurial scene were equally impactful. Their stories of transitioning from academia to entrepreneurship inspired me to explore unconventional career paths and build a global professional network.
The program’s emphasis on cross-cultural collaboration was a standout feature. Working with peers from diverse academic backgrounds (engineering, business, computer science) and countries, I gained a deeper appreciation for interdisciplinary teamwork. Our cohort tackled global challenges, particularly in emerging markets like Southeast Asia, where rapid economic growth and technological adoption are transforming industries like insurance. This global perspective prepared me for the multicultural, fast-paced environment at Toggle.
Living the Startup Life with Fellow AdVenturers
Living on the National University of Singapore (NUS) campus with fellow AdVenturers was a bonding experience like no other. Sharing accommodation with students from around the world, I formed lasting friendships that enriched both my personal and professional growth. We worked together in vibrant cafes and art galleries across Singapore, brainstorming ideas and refining our startup projects in settings that buzzed with creativity. These informal workspaces fostered collaboration, as we swapped insights on everything from pitching techniques to navigating cultural nuances in Southeast Asia’s markets.
When we weren't working or touristing, our evenings and weekends were filled with sports - volleyball at Sentosa and impromptu soccer matches - that built camaraderie and offered a fun outlet. Over shared breakfasts and lunches, often savouring Singapore’s legendary hawker centre street food, we swapped stories about our internships, debated industry trends, and discussed entrepreneurial ideas.
These moments of connection, from late-night discussions to exploring the city together, gave me a taste of startup life’s collaborative spirit.
Living and working so closely with my peers created a sense of community that made the AdVenture program unforgettable, reinforcing the value of teamwork in entrepreneurship and allowing me to meet fellow UQ peers I never would have met otherwise.
Immersed in Insurtech at Toggle
At Toggle, I was thrust into a dynamic environment where innovation and adaptability reigned. Guided by entrepreneur Derren Teo and Country Manager Young Cho, I worked on high-stakes projects bridging law, technology, and business strategy. My responsibilities included:
- Company Registration and Reinsurance Setup: Assisting with the setup of a captive reinsurance company in Southeast Asia, navigating complex regulatory frameworks for Toggle’s registration as an AI-driven insurance broker.
- Legal Drafting: Crafting agency agreements, website terms, marketing consent forms, privacy policies, and arbitration clauses tailored to a fast-growing startup.
- Negotiation Support: Attending multilingual negotiations with global insurers like Starr Insurance and AIA, preparing concise meeting notes to streamline decisions.
- Investor Pitch Decks: Collaborating on compelling pitch decks to communicate Toggle’s value in the competitive fintech space.
- Regulatory Liaison: Engaging with Southeast Asian financial authorities, banks, and insurance associations to ensure compliance.
- MAS Registration: Preparing documents for Toggle’s registration as an insurance broker with the Monetary Authority of Singapore (MAS).
These tasks demanded quick thinking and the ability to integrate legal expertise with business acumen. Derren and Young’s mentorship taught me to balance ambition with accountability, encouraging me to take initiative while ensuring compliance. Sharing a co-working space with South Korean entrepreneurs, I absorbed their “war stories” about overcoming regulatory hurdles and scaling businesses in emerging markets. These conversations, often over coffee or pickleball, revealed the resilience and creativity at the heart of entrepreneurship.
AI and the Future of Insurance
Toggle’s use of AI to transform insurance was eye-opening. The startup leverages artificial intelligence to streamline underwriting, enhance risk assessment, and make insurance accessible to underserved populations. Machine learning analyses vast datasets for accurate pricing and faster claims processing, while AI-driven interfaces simplify customer interactions.
At its core, insurance is about protecting people from the unknown. Toggle is on a mission to simplify and democratise insurance access in emerging markets — and to do so, it’s rethinking the entire stack, from embedded insurance to digitised claims, powered by AI and machine learning. Toggle is a platform that aims to bring together consumers, insurance companies, big and small, insurance broker associations, and regulatory bodies — infusing the business of insurance with a sense of collaboration, innovation, and efficiency. Toggle’s platform fosters collaboration among consumers, insurers, brokers, and regulators, redefining the industry through embedded insurance and digitised claims.
As a law student, I was fascinated by AI’s legal implications - data privacy, algorithmic bias, and compliance with regulations like Singapore’s Personal Data Protection Act (PDPA). Drafting privacy policies and advising on compliance brought these issues to life. This exposure shifted my perspective: technology isn’t a peripheral tool but a core driver of innovation across industries, including law. The intersection of law and AI opened new career possibilities, where I could combine my expertise in competition and contract law with emerging technologies to create impactful solutions.
Rethinking the Traditional Legal Pathway
Before Toggle, I envisioned a predictable legal career: clerking, joining a large corporate firm as a graduate, perhaps specializing in commercial law— but never insurance law. The startup world upended that trajectory. Toggle showed me that law can be a tool for innovation, not just litigation or contracts. Drafting user-friendly legal documents and advising on regulatory strategy, I saw how legal expertise drives business growth and societal impact.
The startup environment honed my ability to think faster, write clearer, and communicate across disciplines. Explaining complex legal concepts to founders, developers, and investors sharpened my communication skills. Interactions with APAC entrepreneurs, sharing their journeys of navigating cultural and regulatory challenges, inspired me to embrace uncertainty and think entrepreneurially. Even casual moments, like playing pickleball with colleagues, fostered teamwork I hadn’t experienced in academia.
This experience redirected my career aspirations. While I value my legal training, I’m now drawn to roles blending law, entrepreneurship, and technology. Working in a startup, advising on legal strategy while contributing to AI-driven innovation, excites me more than a conventional legal path. UQ Ventures and Toggle showed me that my degree is a springboard, not a script, and I’m eager to explore opportunities in insurtech and AI.
Singapore: A Hub of Innovation
Singapore was a revelation. Described as a city that “runs like a successful corporation,” it blends efficiency, ambition, and innovation. From skyscrapers to vibrant street food, it’s a cultural melting pot. As my Toggle founders noted, its citizens drive a thriving economy, and its startup ecosystem reflects its forward-thinking ethos. As a global fintech hub, Singapore exposed me to cutting-edge developments in insurtech, blockchain, and AI. Industry events and interactions with professionals gave me a front-row seat to the future of financial services, where ideas are tested and scaled - clause by clause, code by code.
A Call to Action
If you’re a UQ student wondering how to apply your degree/s in innovative ways, this is your sign. Programs like UQ Ventures’ Startup AdVenture offer a unique chance to dive into entrepreneurship and innovation, no matter your degree background. My time at Toggle and with my AdVenturer peers taught me about insurance, AI, and the power of interdisciplinary collaboration. It reinvigorated my university experience and redefined my career path.
This experience could do the same for you - pushing you to explore entrepreneurship, embrace emerging technologies, or rethink your skills’ potential. Singapore is waiting, and the future is being built. Join it.