Fi Life to Tap Kakitangan.com’s SME Base to Offer Insurance to 50,000 Employeesby Fintech News Malaysia September 21, 2020 0 comments
Fi Life will be offering direct life protection for users of the Kakitangan.com’s payroll and leave management web app which is said to serve more than 5,000 SMEs and 50,000 employees.
Through the Kakitangan.com’s web app, users are now able to obtain personalised quotes to insure their lives against death, critical illness and total and permanent disability, for the benefit of their families and dependents.
This personalised life insurance service is part of Kakitangan.com’s expansion into employee benefits offerings, in addition to its existing payroll, expense claims management, and leave management service.
Fi Life’s life, critical illness and total and permanent disability protection are offered to Kakitangan.com users on an individual basis where premium payments are the responsibility of the user. This means that, even if the user were to leave the employment of their company, they will continue to enjoy the benefits of Fi Life’s protection.
Although premium payments are the responsibility of the user, Fi Life and Kakitangan.com encourage employers to reimburse their premium expense during their term of employment as part of their employees’ benefits package.
Effon Khoo, founder of Kakitangan.com, outlined Kakitangan.com’s objective with the Fi Life partnership:
“This is the first step for Kakitangan.com to expand on employee benefits offerings for Kakitangan.com’s customers and employees. We hope to build on our partnership with Fi Life to empower SMEs’ people operations and experience, and hence strengthen the SME as an organisation.”
Tan Jiann Meng, General Manager and co-founder of Fi Life, commented:
“Fi Life believes that life, critical illness and total and permanent disability protection is of utmost importance for all employees with dependents. Through this partnership with Kakitangan.com, Fi Life makes access to these critical protection products that much easier”.
Each user will receive a personalised quote based on their age, sex and smoking status (see illustration below). After getting the quote, users can give consent to essential details like NRIC, address and employer details to be passed to Fi Life, so that their online application can be pre-filled.