Insutech industry is finally reaching Southeast Asia. Indonesia, for example has, PasarPolis leading the market. Malaysia also has one, Policystreet. It is one year younger than the Indonesian startup. And the Malaysian insutech has just got financial adviser seal of approval from Malaysian Central Bank.
Similar to the PasarPolis, Policystreet has the vision of making insurance available for the under-insured or uninsured Malaysians. It repackage insurances in an easier, newbie friendly and even a cheaper way.
The Malaysian firm charges only $2.32 per month for its basic protection policies. Despite the cheap price, customers do not need to be worried as it has the approval from the government. The approval granted the company no restriction from insurance provider in recommending products to the customers.
Awareness of insurance is very low in Southeast Asia. The market is very limited to the middle and upper class. Insutech is helping the other outside those to get an insured life.
Partnerships with many big companies also help to make insurance more common in Malaysia. Policystreet is providing custom insurances for more than 100 companies across the country. Including Foodpanda, HostelHunting, Co-Labs and Malaysia’s Digital Economy Corporation.
Policystreet is protecting you… and your pets
Not only for people, it now also offers insurance for pets. Pet insurance is actually not a new thing in the country. It has been around since 2010. Yet along with the low interest of insurance over the people, most does not even know that such thing exists.
Those living without pets might think that this is a waste of money. But people with pets are ready to spend money for their pets than they think. For that, Policystreet offers pet insurance starting from $4.45 per month.
The pet insurance assures pet owners from the worry of needing to hospitalize their pets. Because pets can also get sick or caught on accident.
