Ouch! Rolls Out Digital Takaful Life Insuranceby Fintech News Malaysia August 16, 2023 0 comments
Insurtech platform Ouch! has launched a digital takaful product Pusara Pro, a simple term life product offers death benefit of up to RM500,000 and an additional compassionate benefit of 10% of the total sum assured.
According to Ouch!, the Pusara Pro plan is the company’s first in-house product. Customers can directly purchase as well as make their claims and track them all directly through the Ouch! mobile app.
Ouch! said that the Pusara Pro has a hassle-free application process that only consists of four health underwriting questions.
The company touted Pusara Pro as a cost-effective option for young Malaysians, especially those who are just starting out with basic life protection.
The new offering also marks Ouch!’s formal entry into the takaful market as the first Digital Takaful Operator in Bank Negara Malaysia’s Regulatory Sandbox.
“As an insurtech platform looking to shake up the insurance or takaful space, we are determined to eliminate one of the industry’s greatest hurdles: the claims experience and processing times.
The swift 24-hour turnaround for compassionate claims is our commitment to our participants so that we can help provide crucial financial support for families during the incredibly challenging, immediate aftermath of losing a loved one.”
said Shazy Noorazman, CEO of Ouch!.