Touch ‘n Go Offers RM5/Month Insurance for Accidents at Parking Lots
by Fintech News Malaysia August 23, 2023Touch ‘n Go Group has rolled out a new personal accident insurance that costs RM5 per month called ParkInsure for those using the Touch ‘n Go card for payment at parking sites.
ParkInsure provides coverage for a range of accidents and incidents that may occur in a parking lot, including permanent disablement or accidental death, snatch theft, forcible car break-ins, and lost car keys.
Users have the option to opt either for takaful underwritten by Zurich General Takaful Malaysia or conventional insurance underwritten by Allianz Malaysia.
Under the conventional plan, it also covers transportation costs for hospital admission and reimbursement for lost Touch ‘n Go cards. Separately, the takaful plan covers car damage due to accidents.
Users can reportedly subscribe to ParkInsure in less than 3 minutes through GOprotect. Claims can be made through the insurers’ 24/7 hotline while policies and certificates can be viewed and managed in the “My Policies” tab on the eWallet app.
There are currently more than 1,350 Touch ‘n Go payment enabled parking sites nationwide where the insurance/takaful coverage is applicable.
Alan Ni
Alan Ni, Chief Executive Officer of TNG Digital said,
“We are pleased to introduce our latest insurance/takaful product on GOprotect, which provides personal accident insurance/takaful protection for our users who use the Touch ‘n Go card for payment at parking sites.
No matter how careful or vigilant people are, mishaps and unforeseen circumstances can happen, and they need to have adequate financial resources to get the necessary help at the crucial time.”
Sean Wang
Sean Wang, Chief Executive Officer of Allianz Malaysia said,
“We are honoured to be selected as Touch ‘n Go’s preferred conventional insurer for ParkInsure, which is a first-in-market parking insurance.
With this partnership, we aim to increase the accessibility of affordable insurance coverage to all Touch ‘n Go card users.”
