Syarikat Takaful Malaysia Keluarga Bhd (Takaful Malaysia) has made its foray into digital insurance with the launch of its new digital takaful and insurance platform and brand, Kaotim. Along with this, it also introduced Kaotim MediKad, a cost-effective medical coverage plan that starts from as low as RM38 per month, aimed at meeting the medical protection needs of different age groups.

With regard to the launch of Kaotim, Takaful Malaysia said that it is the right step needed to strengthen its retail direct business, and will help it to reach a wider audience.

“As the pioneering takaful developer with nearly 40 years of experience, we need to ensure that we stay relevant in the market. The purpose of the digital platform is to reach out to the market faster and more efficiently. The market is all about digital these days, and we know that’s the future as well. So whether we like it or not, we must address that,” said the group chief executive officer of Takaful Malaysia, Nor Azman Zainal, adding that Kaotim will allow it to address certain gaps within the industry, namely service delivery and capacity.

As for Kaotim MediKad, Nor Azman said that the plan provides an annual coverage of up to RM100,000 – which can be boosted to RM1.1 million by adding a MediBooster rider – in addition to several other in-patient and out-patient benefits. There are a total of three plans that you can opt for under Kaotim MediKad, namely Standard, Pro, and Max. The Standard and Pro plans both offer an annual coverage of RM50,000 and RM75,000, respectively, while the Max plan offers RM100,000.

Here’s the full breakdown of the three plans for your reference:

		Standard Plan	Pro Plan	Max Plan
(A) In-patient and daycare surgical benefits	Daily hospital room and board (no limit on the number of days)   Intensive Care Unit (maximum 60 days per any one disability)   Other fees and necessities: – Surgical fees – Anaesthetist fees – Operating theatre – Hospital supplies and services – In-hospital physician’s and specialist’s visits – Ambulance fees – Day surgery   Daily cash allowance at government hospitals (no limit on number of days)	RM100         As charged         As charged                         RM100	RM150         As charged         As charged                         RM100	RM200         As charged         As charged                         RM100
(B) Out-patient benefits	Pre-hospitalisation (within 60 days before hospitalisation)   Post-hospitalisation treatment (within 90 days after discharge)   Emergency accidental out-patient treatment Out-patient cancer treatment Out-patient kidney dialysis treatment	As charged         As charged           As charged       As charged     As charged	As charged         As charged           As charged       As charged     As charged	As charged         As charged           As charged       As charged     As charged
Overall annual limit/coverage (A+B)		RM50,000	RM75,000	RM100,000
Overall annual limit/coverage (A+B) with MediBooster rider		RM550,000	RM825,000	RM1.1 million

Note that this plan is offered to Malaysians between the age of 6 to 69, with a coverage of up to 85 years old. You will only need to complete an online enrolment form and a simple medical questionnaire, with no need to undergo a medical check-up.

“Customers can sign up for MediKad online via Kaotim, anytime, anywhere, and complete the transaction in a few minutes with just a few clicks and get covered within the day. We leverage the lower transaction cost of the digital platform to deliver a better pricing and accessible takaful plan to the market,” said Nor Azman.

Lastly, Nor Azman stressed that both the Kaotim platform and the Kaotim MediKad plan is part of Takaful Malaysia’s digital efforts to attract new customer segments directly, so that it can better serve the public. “This is also part of our initiative to help cushion the high medical costs faced by Malaysians by offering an affordable medical coverage plan,” he said.

(Sources: The Sun Daily, Takaful Malaysia)

• TAGS:
• Digital Insurance
• Digital Takaful
• Kaotim
• Kaotim MediKad
• Nor Azman Zainal
• Syarikat Takaful Malaysia Keluarga Bhd
• Takaful Malaysia