23rd February 2022 - 2 min read
Gibraltar BSN Life Berhad has entered into a partnership with insurtech company VSure.life, which will allow the insurer to offer selected insurance products on VSure.life’s digital platforms, including website and mobile app. With this, it is hoped that Malaysians will be able to access Gibraltar BSN’s offerings with less hassle.
Through this collaboration, Gibraltar BSN will make available three existing digital products on VSure.life’s platforms, namely i-Protect, i-Care, and i-Med:
|Insurance products||Basic details||Key benefits|
|i-Protect||Critical illness coverage plan with premium starting from RM7.60 per month||Coverage of up to RM500,000 for three critical illnesses (cancer, stroke, and heart attack)|
|i-Care||Term life insurance plan with premium starting from RM9.75 per month||– Death benefit of up to RM500,000 |
– Total and permanent disability benefit of up to RM500,000
– Additional accidental death benefit of up to RM250,000
|i-Med||Medical card plan with premium starting from RM41.85 per month||Annual limit of up to RM90,000 to cover hospitalisation and medical bills|
The chief executive officer of Gibraltar BSN, Lee Kok Wah said that the partnership will contribute to the insurer’s vision to become Malaysia’s “community protection champion”. “Our latest partnership with VSure.life perfectly complements both our companies’ goal of making life insurance more accessible to Malaysians from all walks of life, and we are thrilled with the potential of expanding our online business while deepening insurance penetration in the country,” he said.
Meanwhile, the founder, managing director, and chief executive officer of VSure.life, Eddy Wong commented that this collaboration is yet another way to provide innovative protection solutions to the public. “One of VSure’s main goals has always been to enable more affordable and accessible insurance protection for the masses, and this partnership takes us another step closer, going beyond insurance to pioneering financial protection, inclusion, and helping increase the social safety net to the masses,” he stated.
VSure.life is the first digital insurer to obtain approval from BNM to offer on-demand insurance and protection plans for the public. Aside from Gibraltar BSN, it has also partnered with several other insurers, including FWD Takaful and Allianz.
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