Axiata to Distribute Digital Insurance Through Aspirasi, Boost and Celcomby Vincent Fong December 13, 2019
Axiata Digital Capital’s Aspirasi announced Thursday, a partnership with Great Eastern to provide affordable insurance and takaful products for consumers, micro-entrepreneurs and SMEs.
The distribution of the product will be fully digital and will be offered through Aspirasi and its partner platforms which includes Celcom, and the group’s e-wallet brand Boost.
The parties involved said in a media statement by enabling Malaysians access to a wide range of bite-sized policies that start as low as RM 1.50 they hope to bridge the protection gap in Malaysia.
Similarly, both parties have also struck the same arrangement in Indonesia.
The Axiata group is increasingly widening its services within the digital finance space, besides its widely used e-wallet Boost, they have also recently entered into an agreement with CIMB Bank to offer financing solutions to 700,000 SMEs under its Aspirasi platform. To date, they claim to have distributed RM 50 million worth of microloan to 9,000 merchants.
The group’s widening offerings within the digital finance space could point towards their deepened interest towards being a virtual bank, the group previously said that they “definitely expressed interest” towards getting a virtual banking license in a Malaysia.