by LYDIA NATHAN / pic credit: tuneprotect.com
TUNE Protect Group Bhd’s first online cashless medical insurance policy, PRO-Health Medical is targeting millennials and Generation Z, as it aims to become a lifestyle insurer for these groups.
The online medical insurance is available for Malaysians and non-Malaysians who legally reside in Malaysia, aged 18 to 45 years old and can be renewed up to the age of 65 years.
Offering hospitalisation and surgical benefits, the PRO-Health Medical is aimed for these demographics as they have relatively low awareness on the importance of insurance coverage despite the pandemic that hit the nation since last year.
Tune Protect Malaysia CEO William Foo said this generation prefers simplicity and convenience today, and the product is a result of heavy-duty research.
“These insights spurred the features of PRO-Health Medical as a comprehensive, budget-friendly plan that is easy to understand, where sign-ups take less than five minutes and claims are hassle-free via our Tune Protect App, which also hosts the e-Medical card for cashless admission,” he said at the virtual product launch yesterday.
The e-Medical card provides customers coverage for hospitalisation and surgical expenses, including in-patient, daycare surgical procedures and outpatient treatment expenses due to illnesses and accidents.
According to Foo, admission into its 150-panel hospitals will only require an e-card and in addition to that, a lump sum in the form of allowance will be given to anyone suffering from mosquito borne diseases.
“The policy will also feature Covid-19 medical expenses of up to RM20,000 per diagnosis until Dec 31, 2021. As a group, we wanted to contribute some part of the sales towards charity, so we picked Yayasan Chow Kit, which provides healthcare to children from less privileged families. For every policy sold, we will donate RM6 to the foundation, which in turn will cover a child,” he said.
Tune Protect Group group CEO Rohit Nambiar said there will be a four-plan types with annual limits ranging from RM30,000 to RM150,000 to opt for, all according to customers’ needs.
“This policy can be purchased by first-time medical insurance customers or as a supplement to customers’ existing medical coverage. A unique feature of this product is that, it does not have a lifetime limit, which means that the annual limit is reinstated year-on-year,” he said.
Rohit added that another unique feature of this product is a year-long mental wellness programme with Naluri for the first 1,000 customers.
“Mental wellness is so important and people are beginning to realise this today, especially millennials who are goal-driven and know what they want. The professionals involved are all trained, including nutritionists and therapists,” he said.
Meanwhile, Tune Protect Group health lead Ben Assanasen said the health segment has been one of the main pillars for the group and believes it will continue to grow rapidly.
“The aim is for 40% of revenue to come from the health segment, and we want to target the younger generation as there is much space for penetration right now,” he said.