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Takaful Malaysia Launches Nation’s First Flexi Motor Takaful Plan with Pay As You Drive Daily Cover

Kuala Lumpur – Syarikat Takaful Malaysia Am Berhad (“STMAB” or “Takaful Malaysia”), the general takaful arm of Syarikat Takaful Malaysia Keluarga Berhad virtually launched Takaful myClick Motor FlexiSaver, the nation’s first flexi motor takaful plan with Pay As You Drive daily cover. Jointly organized by Takaful Malaysia and technology partner, Fusionex, the virtual launch was officiated by Dato’ Mohammed Hussein, Chairman of Syarikat Takaful Malaysia Keluarga Berhad.

“Today’s virtual launch of Takaful myClick Motor FlexiSaver signifies Takaful Malaysia’s unwavering commitment to driving product innovation and delivering superior customer value. Flexible protection plans are the future of the insurance and takaful sector. Offering insurance and takaful products in the new mobility space that are simple, flexible, and usage-based is revolutionising the industry. This means, consumers have the option to decide and pay for just the coverage they need, as and when they need it. With more people driving less these days, while some may face financial challenges due to the impact of the COVID-19 pandemic, Takaful myClick Motor FlexiSaver is the best option that suits the financial and protection needs of those who drive infrequently or own several cars and want to save more on motor takaful or insurance plan. The Pay As You Drive daily cover available under this plan is ideal and rewarding, as we give customers the flexibility to activate it the day before they want to drive and will only be charged for the days they drive. Suffice to say, Takaful myClick Motor FlexiSaver is a quick win for customers to enjoy great savings and peace of mind when they drive,” stated Dato’ Mohammed Hussein, Chairman of Syarikat Takaful Malaysia Keluarga Berhad.

Takaful myClick Motor FlexiSaver is an online motor takaful plan that provides one-year coverage for loss or damage to your vehicle due to fire or theft, as well as third party bodily injury, death, or property damage. Offered through Takaful Malaysia’s online sales portal and Click for Cover mobile application, this plan provides a 24-hour roadside assistance program for unlimited breakdown towing service and minor roadside repairs, including tyre change, fuel delivery, battery change, and jump start. Featuring Pay As You Drive daily cover for accidental damage to your own vehicle and complimentary personal accident coverage of RM15,000 for the driver and all passengers as well as accident towing, Takaful myClick Motor FlexiSaver also offers add-on protection options for windscreen, personal accident, and key replacement. Customers can also enjoy an instant 10% discount when applying the base plan of Takaful myClick Motor FlexiSaver, and when activating Pay As You Drive daily cover.

Chief Executive Officer of Syarikat Takaful Malaysia Am Berhad, Mohamed Sabri Ramli said, “In our continued efforts to meet ever-changing consumer expectations, and in line with the rapid pace of digital expansion in consumer purchases, it is timely that we introduce Takaful myClick Motor FlexiSaver with Pay As You Drive (“PAYD”) daily cover to better serve our customers with innovative takaful solutions while preserving consumer choice. The PAYD is the key differentiator, a unique feature that sets us apart from other motor insurance and takaful plans available in the market. Customers only need to sign up for the base plan of Takaful myClick Motor FlexiSaver via our online sales portal or Click for Cover mobile app, before activating PAYD through the mobile app. Eventually, we want to make it easy and hassle-free for customers to enrol in this motor takaful plan online, corresponding to our digital strategy to enhance product and service accessibility.”

“Takaful myClick Motor FlexiSaver with PAYD not only provides a simple online application process along with an array of benefits and services offered to customers but also diversifies Takaful Malaysia’s product offerings and creates a value proposition for consumers at large. Takaful Malaysia’s strategic move to introduce this motor takaful plan will provide new revenue and value-producing opportunities for the company to stay ahead of the curve and remain competitive in the motor insurance and takaful market,” added Mohamed Sabri Ramli.

Dato’ Seri Ivan Teh, Group Chief Executive Officer of Fusionex said, “Insurance, at its core, is a business that underwrites risks and helps people in times of need. As such, I applaud Takaful Malaysia for revolutionizing their offerings and empowering their customers to take more control over how they purchase insurance. As a long- term and fully-supportive technology partner, Fusionex pledges to lend our experience, expertise and cutting- edge technology to drive excellent user experience for Takaful Malaysia’s customers, and this partnership continues to innovate with the launch of Malaysia’s first pay-as-you-drive motor insurance.”

“Together with Fusionex, which specializes in analytics, big data, and artificial intelligence, we leverage digital and social media platforms to actively promote this product. Ultimately, we want to ensure that our business is competitive and relevant to the growing consumer demands, particularly the tech-savvy generation. By embracing technology and digital tools to offer differentiated product offerings and services, we will be able to reach new customer segments through superior protection products and customer experience,” said Mohamed Sabri Ramli in conclusion.

Takaful Malaysia was recently voted once again by Malaysians as the Best Motor Takaful Company in Malaysia for 2021/2022. The annual award clinched by Takaful Malaysia is based on the results of the online survey conducted by iBanding, an independent, knowledge-based company that provides transparent insights about the local insurance and takaful industry that ranks insurance and takaful companies in Malaysia according to the actual feedback from survey responses among motor vehicle drivers.