Allianz Malaysia partners with 11street to make insurance more accessible, affordable
KUALA LUMPUR: Allianz Malaysia is embarking on a new partnership with online marketplaces, 11street. This collaboration aims to provide Malaysians with some peace of mind by offering protection that caters to our varying needs through the insurance products that are now available on the online shopping platform.
In a press statement, Allianz Malaysia said, together, Allianz and 11street are making purchasing insurance more convenient and seamless by offering three comprehensive products that suits the customer’s needs.
These products include; ‘ Personal Accident Insurance’, ‘Roadside Assistance Programme’, and ‘Smart Home Cover’.
Allianz General Insurance Company ( Malaysia) Bhd head of Digital Partnerships and Innovation Michael Fong said: “This is an exciting, proactive step for us towards not only raising awareness about the importance of insurance coverage, but also towards making this essential form of protection more accessible and affordable to the general public.
“By exploring this new approach to selling insurance plans, we hope to encourage more Malaysians to take this crucial step towards protecting themselves and their families, as well as to reduce the protection gap amongst the public.”
The current national insurance penetration rate remains at around 56 per cent, with only about 32 per cent of Malaysians owning more than one policy, according to the Life Insurance Association of Malaysia1. With Bank Negara Malaysia’s target of 75 per cent insurance penetration by the year 2020, and the potential to exceed 100 per cent, this partnership between Allianz and 11street is a calculated move towards ensuring that every Malaysian is protected.
11street Business Development & Partnership general manager Henry Ho added: “This is definitely a milestone for 11street.
“We are a holistic platform that’s constantly looking for ways to add value and enrich the lives of our customers.
“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.
“With more and more people depending on online shopping in their daily lives, we feel that this is an important addition to our already diverse range of product offerings.”
Under the ‘ Allianz Personal Accident Insurance’ product, customers would be entitled to double indemnity in the event of a death or permanent disablement as well as cashless hospital admission and discharge. The plan also covers medical expenses and snatch thefts.