Boost expands services to include micro-insurance, takaful coverage plans

05 September, 2020      33

 

 

KUALA LUMPUR: Homegrown e-wallet platform Boost has introduced a comprehensive suite of

The new feature marks Boost’s foray into expanding the use of e-wallet to include digital financial services.

affordable and accessible micro-insurance or ‘takaful’ coverage under ‘Boost Protect’, meant to help Malaysians on the road to recovery and also to continue safeguarding their health and well-being during these challenging times.

This new feature, available on the app’s ‘Insurance’ tile, marks Boost’s foray into expanding the use of e-wallet beyond just comprising payments, and into digital financial services.

Exclusive to Boost users, ‘Boost Protect’ offers a variety of coverage underwritten by Great Eastern General Insurance (Malaysia) Bhd, Great Eastern Life Assurance (Malaysia) Bhd and Great Eastern Takaful Bhd – and powered by Aspirasi.

These offerings can be easily viewed and purchased on the app.

The seven types of coverage plans available under ‘Boost Protect’ are:

•‘BillProtect’ – With a one-time payment of RM30 for six months’ coverage, the insured individual is eligible for reimbursement for utility bills of up to RM1,000 if hospitalised for more than four days due to an accident; or a lump-sum payout in the event of accidental permanent disablement or death;

• CardProtect – A credit-card-bill-protection against unexpected events that cause disability or demise of the insured party, for just RM10 for six months’ coverage;

• HospiCash – With a one-time payment of RM60 for six months’ coverage, the insured party would receive RM100 daily cash allowance to ease the financial burden during hospitalisation;

• Protect Super6 – An affordable six months’ coverage for RM39, in the event of critical illnesses or accidental death;

• ProtectActive – A protection plan for sports and fitness activity-related accidents, at just a payment of RM6.25 a month;

• ScreenProtect – Allow reimbursement for smartphone screen repair, or cover for replacement costs due to accidental damage, with RM100 for one-year coverage, and;

• SME OwnerProtect – With a one-time payment of RM45 for one-year coverage, small-medium enterprise (SME) owners will be reimbursed for emergency expenses relief up to RM1,000, if hospitalised for more than four days due to an accident, or a lump-sum payout in the event of accidental permanent disablement or death.

As a value-added benefit, every Boost Protect insurance or takaful package comes with ‘Covid-19 Assist’ – an additional financial assistance programme where in the event of the insured being infected with the Covid-19, the Boost Protect insurance or takaful holder would receive RM200 daily hospitalisation cash assistance upon diagnosis up to 60 days, and RM20,000 financial assistance upon death due to complications deriving from Covid-19.

Boost chief executive officer Mohd Khairil Abdullah noted that following the pandemic, Malaysians had placed high importance on protecting themselves for the future as awareness of health and overall wellbeing had been heightened.

“We endeavour to #KitaBoostKita by providing users the protection and peace of mind, while they continue to live life or do business amidst the pandemic at a very low cost where users can now enjoy bite-sized protection for extra-large coverage that caters to their various needs.

“The provision of micro-insurance or takaful coverage is just the start of what we plan to do with digital financial services through our e-wallet platform, we have bigger plans to further expand on this service over the next couple of years,” he said.

Boost users can conveniently browse to find out more information about the coverage plans and purchase their preferred protection plan via the ‘Insurance’ tile in just a few clicks.

Boost is an official partner of three government’s National Economic Recovery Plan (Penjana) initiatives – the ePENJANA, Micro-SME (MSME) E-Commerce Campaign, and Shop Malaysia Online – aimed at contributing towards a collective effort in rebuilding the economy, especially through enabling MSME merchants rebound and recover by helping bring their businesses online.

As an added incentive, Boost will #KasiTambah a RM5 cashback on Great Eastern insurance plans in its partner wallet to kickstart users’ protection journey when users claim and spend using the RM50 ePenjana credit. This is part of the e-wallet’s larger #KasiTambah campaign, which is also carried out in the MSME E-Commerce campaign and Shop Malaysia Online initiative.

For more information, follow Boost’s official social media channels on Facebook (facebook.com/myboostapp) and Instagram (instagram.com/myboostapp).

Alternatively, visit www.myboost.com.my.


Original Source: https://www.theborneopost.com/2020/09/05/boost-expands-services-to-include-micro-insurance-takaful-coverage-plans/


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