GHL Systems and homegrown insurtech company Senang have extended their strategic partnership to provide Malaysians with micro-insurance coverage for non-conventional retail purchases that are not commonly insured.
SenangSikit which is insured by The Pacific Insurance Berhad, enables customers to obtain insurance coverage against accidental damages on purchases with just two clicks at checkout.
The offering is available to customers who make purchases at any participating stores in Malaysia that use GHL’s POS terminals.
The insurance plan works like a product warranty providing coverage to a myriad of non-conventional retail products ranging from electronic items, footwear, car accessories, fashion clothing, furniture and more.
The plan is valid for up to a year from the date of purchase with a minimum as low as MYR2.50 a day.
The insurance platform also gives merchants, especially micro, small and medium enterprises (MSMEs) the opportunity to earn referral income – merchants only need to have a GHL terminal without having to invest in extensive training.
Kevin Lee, CEO of Malaysia at GHL Systems Berhad remarked,
“I am confident the launch of SenangSikit’s innovative user-friendly platform for microinsurance, offered in collaboration with Senang and its insurer, The Pacific Insurance Berhad, will further enhance the buying experience of Malaysian consumers, while providing value-added services and capabilities for our clients.”
Sharian Raj, Co-Founder of Senang added,
“With in-store shopping picking up steam and online purchases remaining high, customers continue to feed into consumer trends through retail shopping, further underscoring how important it is for insurtech companies like Senang to offer long-term, digitally-integrated value to our users.
We are glad to be able to simplify the checkout operation by transforming a tedious, staid process into a more efficient and seamless experience for future policyholders through our collaboration with GHL Systems Berhad.”
