AIG Malaysia Insurance has partnered with e-commerce marketplace Lazada to provide customers with a convenient and accessible platform to purchase general insurance policies.
In a joint statement issued on Tuesday, the two companies said that customers will soon be able to buy travel, snatch theft, and personal accident insurance coverage on the Lazada website. According to the statement, the policies will cost from MYR8 – 15 each (US$1.87 – 3.50).
Less than 2% of Malaysians are insured, so the partnership aims to expand the reach and deepen the penetration of insurance in the country by generating more awareness and increasing accessibility for customers. Lazada Malaysia is wholly owned by Chinese e-commerce giant Alibaba.
Antony Lee, AIG Malaysia’s chief executive officer, commented: “With some of Lazada's customers aged between 26 and 35 years – well within AIG's target customer segments – this will provide us with the chance to understand our customers’ needs and to continuously match them with the right insurance solutions.”
He added that the partnership reaches out to a perennially underinsured segment of the population which prefers the convenience of shopping using digital platforms.
Meanwhile, Lazada Malaysia CEO Hans-Peter Ressel said that increased opportunities in the digital and direct insurance channels will improve transparency and enable consumers to be well-informed about the insurance products that can meet their needs.
"This collaboration helps prepare Malaysians to take a better charge of their future,” he added.
Related stories:
Leading insurer recognised for excellent motor claims turnaround times
Insurer sponsors charity golf tournament
Leading insurer links up with IT security firm to provide cyber coverage
