KUALA LUMPUR: Allianz Malaysia is embarking new partnership with 11street, offering insurance products on the online shopping platform.
In a statement, Allianz said 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 head Michael Fong said by exploring this new approach to selling insurance plans, the company hopes to encourage more Malaysians to take the crucial step towards protecting themselves and their families, as well as to reduce the protection gap amongst the public.
“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,” he said.
Quoting the Life Insurance Association of Malaysia statistics, Allianz said 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.
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, it said.
11street business development and partnership general manager Henry Ho said with more and more people depending on online shopping in their daily lives, the online shopping platform feels that this is an important addition to its already diverse range of product offerings
“Purchasing insurance coverage is essential in the long-term and as the 25-35-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.
Allianz and 11street are offering three different products that will provide protection for your home, your car and most importantly yourself and your family. Under the Allianz Personal Accident Insurance product, customers will 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.