MICRO-INSURANCE PARTNERSHIP INKED

GHL-Senang platform provides easier coverage access via smart terminals

GHL Systems Bhd and homegrown insurtech company SenangNVS Sdn Bhd (Senang) have extended their partnership to provide Malaysians with easier access to a first-in-Asean microinsurance coverage on non-conventional retail purchases.

This distribution model enriches the consumer-buying journey through GHL’s smart terminals and the SenangSikit digital insurance platform.

SenangSikit is a Senang proprietary patent-pending digital platform that offers offline-to-online insurance as opposed to insurance sold by traditional agents or online checkouts.

It is available to customers who make purchases at any participating stores using GHL point-of sale terminals that accept card and e-wallet payments.

GHL chief executive officer

Kevin Lee said the company was excited to be a key enabler of a flourishing financial technology ecosystem in Malaysia by bridging the business-to-business-toconsumer segment.

“I am confident the launch of SenangSikit’s innovative, userfriendly platform for micro-insurance offered in collaboration with Senang and its insurer, Pacific Insurance Bhd, will further enhance the buying experience of Malaysian consumers, while providing value-added services and capabilities for our clients,” he said in a statement yesterday.

SenangSikit is said to be a faster and simpler way of obtaining insurance coverage for accidental damage on purchases with just two clicks at the checkout.

The insurance plan works like a product warranty providing coverage for a myriad of non-conventional retail products, including electronic items, footwear, car accessories, clothing and furniture.

The plan is valid for up to a year from the date of purchase, with a minimum of RM2.50 a day.

Meanwhile, merchants using GHL’s smart terminals can offer customers an improved buying experience with insurance coverage on their purchases.

The insurance platform also gives merchants the opportunity to earn referral income.

“With in-store shopping picking up steam and online purchases remaining high, customers continue to feed into consumer trends through retail shopping, further underscoring how important it is for insurance companies to offer long-term, digitally integrated value to users.

“We are glad to be able to simplify the checkout operation by transforming a tedious, staid process into a more an efficient and seamless experience for future policyholders through our collaboration with GHL,” said Senang co-founder Sharian Raj.