KUALA LUMPUR: Malaysia's first on-demand lifestyle digital insurer, VSure.life, is expanding to the United Kingdom (UK) to modernise the traditional insurance market by modernising the digital insurance landscape.
Through this expansion, the company also plans to make it affordable for small businesses to access insurance collectively.
VSure Group's co-founder, chief executive officer (CEO) and managing director Eddy Wong said the company's expansion in the UK represents a significant step forward in becoming a serious player using technology to revolutionise the insurance industry globally.
"Having a foothold in the UK and partnering up with local players will give us a strong platform and profile to continue expanding internationally.
"We are also proud to have the support of the ecosystem from the Malaysia Digital Economy Corporation (MDEC) for our growth plans," he said.
The establishment of VSure UK at the Malaysian High Commission in London also saw the company announcing its strategic partnership with Pro MGA Global Solutions and McGill & Partners with the support of MDEC and the Malaysian High Commission.
MDEC CEO Mahadhir Aziz said VSure is an innovative and revolutionary scale-up that is transforming the traditional insurance industry.
"MDEC is proud to have supported VSure in their journey, primarily through participation in the MDEC x Alibaba Ant Financial 10x1000 Leadership & Innovator Program, MDEC's eBerkat platform and Southeast Asia Tech Innovators Workshop.
"VSure's expansion to the UK is in line with the goals and vision of Malaysia Digital, the national strategic initiative to enable Malaysian businesses to play a leading part in the global digital economy.
"We congratulate VSure on their expansion and look forward to working closely with them to drive the development of Malaysia's Digital focus sectors, particularly Fintech and the Islamic Digital Economy," he said.