Allianz Malaysia insurance products now available on 11street
KUALA LUMPUR: Allianz Malaysia is embarking on a new partnership with 11street to offer insurance products on the online shopping platform.
The insurer is offering three comprehensive products that suit varying customers’ needs. They are personal accident insurance, roadside assistance programme and smart-home cover.
Allianz General Insurance Co (Malaysia) Bhd digital partnerships and innovation head Michael Fong said by exploring the new approach to sell insurance plans, the company hoped to encourage more Malaysians to take the crucial step in protecting themselves and their families, as well as reduce the protection gap among the public.
“This is an exciting, proactive step for us to raise awareness of the importance of insurance coverage and make this essential form of protection more accessible and affordable to the general public,” he said in a statement.
Citing the Life Insurance Association of Malaysia statistics, Allianz said the current national insurance penetration rate remained at around 56 per cent, with only about 32 per cent of Malaysians owning more than one policy.
With Bank Negara Malaysia’s target of 75 per cent insurance penetration by 2020 and the potential to exceed 100 per cent, the partnership between Allianz and 11street was a calculated move towards ensuring every Malaysian was protected, said the company.
11street business development and partnership general manager Henry Ho said with more people depending on online shopping in their daily lives, this was an important addition to its already diverse range of product offerings.
“Purchasing insurance coverage is essential in the long term and as the 25- to 35-year-old customers are our largest demographic, we’ve worked closely with Allianz to curate these three products that cater specifically to the needs of working adults,” he said.
The Allianz insurance products also cover medical expenses and snatch thefts.