Pet Insurtech Oyen Records RM100M Coverage, Eyes Southeast Asia ExpansionApril 3, 2023 0 comments
Oyen, a Malaysian digital-first pet healthcare insurance provider, has provided RM100 million worth of protection and revamped its brand with a new look.
Additionally, the insurtech has also rolled out a new travel insurance product for people and incorporated it with pet protection.
This new travel insurance not only covers avid travelling pet owners, but it also offers additional pet benefits during their trip, i.e. trip curtailment, where the Oyen travel insurance policy will pay for the unused portion of their trip (up to RM50,000) for returning home early should their pet get severely ill or pass away.
This Oyen travel insurance policy will also pay for pet boarding extension due to travel delay of up to RM1,000.
Established in 2021 through a partnership with MSIG Insurance Malaysia, Oyen has assisted pet owners in managing the medical expenses for their pets and claims to have experienced a growth of sixfold from 2021 to 2022.
Oyen said that it aims to achieve 50,000 pets coverage in Malaysia and 100,000 in Southeast Asia by 2025 while also further expanding its product range.
“We founded Oyen during the pandemic when we discovered that pet owners were struggling to pay unexpected vet bills.
You will see that with every product offering, Oyen focuses on incorporating pets as a key element in our product.”
said Kevin Hoong, Chief Executive Officer and Co-founder of Oyen.
“To stay competitive in a rapidly evolving landscape, our secret sauce lies in owning the end-to-end insurance journey of our customers – from onboarding and claims to renewal.
By utilising our proprietary digital insurance platform, our team is empowered to exceed customer expectations beyond their insurance needs. This ensures that every customer and fur kid receive personalised attention and care.”
says Michelle Chin, Chief Operating Officer and Co-founder of Oyen.
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