Insurer Zurich Malaysia and insurtech solutions provider Senang.io have entered into a partnership with Bank Islam to roll out a new takaful solution called Microtakaful for Gig Workers. Housed within Bank Islam’s digital banking app, the Be U by Bank Islam app, it will allow gig workers to access a range of takaful products and services from insurers at their convenience.

In a joint statement, the three entities explained that the new Microtakaful for Gig Workers offering will empower gig workers with tailor-made takaful services that are designed to accommodate the specific needs of the gig community, such as their dynamic schedules. These include on-demand services, medical coverage, and a convenient in-app claim management platform.

Zurich, specifically, will be the first takaful provider to offer its products on the Microtakaful for Gig Workers platform within the Be U app. “As the gig economy continues to grow, it is important that we cater to the protection needs of the participants. Together with our partners, we will create a brighter and more secure future,” said the chief executive officer of Zurich General Takaful, Shamsul Azman, who also added that this collaboration aligns with the insurer’s “Care for What Matters” brand campaign.

Meanwhile, Senang.io will provide its technology expertise to integrate the takaful products into the Be U app, ensuring accessibility and simplicity for all users. “Our technology platform facilitates the integration of multiple takaful products into a single, user-friendly application, making takaful accessible and straightforward for all users,” said the founder and chief executive officer of Senang.io, Sharian Raj.

Chief digital officer of Bank Islam Group, Noor Farilla Abdullah, on the other hand, stressed the importance of financial inclusion within the Be U by Bank Islam digital proposition.

“The new microtakaful offering, facilitated through OpenAPIs, seamlessly integrates gig work protection within the app, enabling users to conveniently access takaful add-ons and process claims directly through the platform. The inclusion of microtakaful solutions within the app enriches the gig economy, offering peace of mind and financial protection to a vulnerable segment of workers, making it easily accessible in times of unexpected dchallenges,” said Noor Farilla.

Moving forward, Bank Islam said that it is planning to work with Senang.io to onboard other takaful providers onto the Microtakaful for Gig Workers platform to widen its takaful offerings within the next three years.

• TAGS:
• Bank Islam
• Be U App
• Microtakaful for Gig Workers
• Noor Farilla Abdullah
• Senang.io
• Shamsul Azman
• Sharian Raj
• Zurich
• Zurich General Takaful Malaysia
• Zurich Malaysia