The products will be available on Aspirasi, a fintech service provider, and other partner platforms
By S BIRRUNTHA / Pic By ARIF KARTONO
AXIATA Digital Capital and Great Eastern Holdings Ltd have inked a regional strategic partnership to provide affordable and customised conventional insurance and takaful products for consumers, micro-entrepreneurs, and small and medium enterprises (SMEs) in Malaysia and Indonesia.
Going fully digital, the products will be available on Aspirasi — a financial technology (fintech) service provider under Axiata Digital Capital — and other partner platforms.
Great Eastern group CEO Khor Hock Seng said these bite-sized conventional insurance and takaful solutions are designed to meet the needs of customers’ lifestyles, especially those who are underserved.
“It is also to provide seamless experience of purchasing (conventional) insurance and takaful solutions online to help bridge the protection and insurance gap. These include important protection across areas such as health, home and personal accident insurance. The premiums or contributions start from RM1.50 and 5,000 rupiah.
“Also, as a leading insurer in Asean, we are looking to increase the penetration of insurance in Malaysia through this medium,” he said during the signing ceremony between Axiata Digital Capital and Great Eastern in Kuala Lumpur (KL) yesterday.
Khor added that now their wide range of conventional insurance and takaful solutions will be within easy reach of Axiata Digital Capital’s customers.
“Customers across Malaysia and Indonesia can gain convenient access to our (conventional) insurance and takaful products based on specific needs to complement their lifestyle every day.
“I believe this partnership allows us to reach out to a wider base of consumers who go online to purchase and manage their (conventional) insurance and takaful needs,” he said.
A comprehensive range of (conventional) insurance and takaful products is available for a wide range of needs such as insurance and takaful, health insurance, home insurance and personal accident insurance.
By leveraging on big data, artificial intelligence and behavioural economics, the product is designed at the centre of fulfilling a variety of needs in one integrated experience.
Meanwhile, Axiata Digital Capital CFO and ED of Aspirasi Sheyantha Abeykoon said the group is committed on their ongoing journey to narrow the financial inclusion gap in Malaysia and Indonesia.
He added that bite-sized conventional insurance and takaful remain an important and relevant financial service to be offered in the market.
“At Aspirasi, we are focused on technology and data that not only enable business innovation at an unprecedented level and scale, but also give us invaluable insight into the different needs of our broad range of consumers.
“Through this collaboration, we then match the bite-size products with specific needs of the customer for an unparalleled digital experience,” he said at the event.
Additionally, the partnership is also expected to complement the people of today, where they lead a digitally driven and hassle-free cashless lifestyle.
Aspirasi is committed to assist micro-enterprises and SMEs achieve their business goals through a range of microfinance and bite-sized conventional insu- rance and takaful solutions.
Having also disbursed RM50 million worth of micro-loans funds to 9,000 merchants to date, Aspirasi aims to be a trusted and preferred digital financial partner for the underserved community.