Dear Respected Stakeholders, 2024 was a transformative year for Qoala, marked by meaningful growth, technological progress, and deeper trust from our stakeholders. This momentum reinforces our commitment to remain agile, responsive to customer needs, and focused on delivering solutions that create lasting value. At the heart of this progress is our unwavering commitment to technology. In 2024, we advanced our innovation agenda with a strong focus on harnessing Artificial Intelligence (AI) and Machine Learning (ML) to enhance our solutions and deliver greater value. By leveraging these capabilities, we have streamlined the insurance journey, from instant digital policy issuance to faster, more transparent claims processing. These innovations not only enhance customer experience but also equip agents with real-time analytics and smarter client management tools, enabling them to serve customers with greater efficiency and care. Supported by these advancements, policy issuance grew by 166% in 2024, underscoring the impact of technology in driving both scale and customer satisfaction. Yet, technology alone is not the goal; its true impact emerges when paired with market needs. In Southeast Asia, where insurance penetration remains low and the population is increasingly digital-first, these capabilities are uniquely positioned to unlock growth.