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Times are improving for insurers on the regulatory front, with consumer- focused measures such as the life insurance and family takaful framework likely to be implemented this year further boosting the level of professionalism and transparency in Malaysia. On this front, insurance providers are ramping up their game when it comes to unique insurance products in the market. BizHive Weekly takes a look:

“With Allianz Flight Care, you would pocket RM50 at the 31st minute of a domestic flight delay. It is easy to purchase. Just five simple steps and you are covered. And the best part of the deal, you will not have to lift a finger after making the purchase. If your fliflighth iis delayedd l d more than 30 minutes, the money will be credited straight into your account without submission of any documents.” Linda Lor, Allianz General Insurance Company (Malaysia) Bhd head of digital innovation and special projects

“As life post-retirement often comes with a whole new set of challenges including a ssignificant reduction or loss of regular income, we took note of the need to develop affordable takaful solutions to help retirees as well as adults wwith retired parents mitigate the risk of financial setbacks due to unexpected events. Takaful SeniorGold offers our customers an added peace of mind so that they can continue to live life confidently.” Salim Majid Zain, Zurich Takaful Malaysia Bhd chief executive officer

“Studies have shown that couples who make financial decisions together are more satisfied and confident about the progress of their financial goals, which makes for a healthier and stronger relationship. It is with this insight that we introduced PRUlife partner, one policy that provides dual life coverage. PRUlife partner can be bought together as a couple or as an individual where the spouse gets included into the policy upon marriage.” Khoo Ai Lin, Prudential Assurance Malaysia Bhd chief marketing officer