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Axiata Digital Capital and Great Eastern ink regional strategic partnership to offer innovative insurtech solutions in Malaysia and Indonesia
December 17, 2019 News

 

Axiata Digital Capital, a fintech service provider operating under the brand name Aspirasi, and Great Eastern, have agreed and signed a strategic partnership to give affordable and customized insurance and takaful products for consumers, micro-entrepreneurs and SMEs. Fully digital will also be offered on Aspirasi and its partner platforms.

The range of insurance and takaful products are made to meet the necessities of the customers’ lifestyle, which includes life insurance and takaful, health insurance, home insurance, personal accident insurance, with premiums or contributions starting from MYR1.50 and IDR5,000.

This is the first partnership between digital financial services platform and an insurance and takaful provider to give an ideal experience in online purchase to help connects the protection and insurance gap in Malaysia and Indonesia. Malaysians and Indonesians now can access variety of insurance and takaful products that are simple and bite-sized to meet specific needs with this partnership.

The insurance and takaful products are underwritten by Great Eastern Life Assurance (Malaysia) Berhad, Great Eastern General Insurance (Malaysia) Berhad and Great Eastern Takaful Berhad respectively in Malaysia, and by PT Great Eastern Life Indonesia and PT Great Eastern General Insurance Indonesia in Indonesia.

By working on big data, artificial intelligence and behavioural economics, powered by the Aspirasi digital platform and the expertise of insurance and takaful solutions by Great Eastern, Axiata Digital Capital and Great Eastern are dedicated to putting customers at the center of fulfilling a variety of needs in one united experience.

“As part of our ongoing journey to narrow the financial inclusion gap in Malaysia and Indonesia, bite-sized insurance and takaful remains an important financial service that we offer in the market today through the Aspirasi platform. This is why we are pleased to partner with Great Eastern to embrace innovation and improve the lives of customers.” said Mohd. Khairil Abdullah, Chief Executive Officer of Axiata Digital.

“We are excited to work with Great Eastern, a leading insurer that continuously sets new standards in the industry. At Aspirasi, we are focused on technology and data that not only enables business innovation at an unprecedented level and scale but gives us invaluable insight into the different needs of our broad range of consumers. Through this collaboration, we then match the bite-size products with specific needs of the customer for an unparalleled digital experience,” said Sheyantha Abeykoon, Executive Director of Aspirasi and Chief Financial Officer of Axiata Digital.

Aspirasi is willing to assist micro-enterprise and SMEs achieve their business objectives through a range of micro-finance and bite-sized insurance and takaful solutions. Aspirasi plans to be a trusted and preferred digital financial partner for the underserved community, having to consumed RM 50 million worth of micro-loans funds to 9,000 merchants to date.

Great Eastern Group Chief Executive Officer, Khor Hock Seng said, “We are pleased to partner with Axiata Digital Capital and provide their customers with seamless access to affordable insurance and takaful solutions customized for their lifestyle. This partnership allows us to reach out to the wider base of consumers who go online to purchase and manage their insurance and takaful needs. Great Eastern’s strong expertise in designing relevant products, coupled with the convenience of digital platforms, will provide a unique value proposition to these customers”.

This partnership also allows Great Eastern to continue its on-going focus on digital innovation to meet the protection needs of the digitally driven and discerning customer base, complementing their hassle-free cashless lifestyle every day.

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