Malaysians Can Now Donate Insurance Coverage to B40 via Touch ‘n Go eWallet
by Fintech News Malaysia December 4, 2023TNG Digital (TNGD), Allianz General Insurance Company, and Yayasan Prihatin Nasional (PRIHATIN) to empower the underinsured or uninsured individuals, largely the B40 communities, with insurance coverage through Dana Rahmah through crowdfunding.
This will enable Malaysians to donate and provide a member of the B40 community insurance coverage through TNGD’s Touch ‘n Go eWallet.
Under the agreement, Allianz General has introduced the Group Personal Accident Allianz4All plan, priced at RM40. This plan offers up to RM30,000 in coverage for death or permanent disablement due to accidents.
The initiative which kicked off on 20 November 2023, enables the public to contribute to this cause through donations via the Touch ‘n Go eWallet, with funds going directly to Yayasan Prihatin Nasional.
The goal is to raise RM2.8 million, enabling 70,000 individuals from the B40 segment to receive insurance protection.
From January 2024, the eWallet will also facilitate insurance applications directly via the app, while PRIHATIN will aid in identifying eligible recipients.
Alan Ni
Alan Ni, Chief Executive Officer of TNG Digital said,
“At TNGD, we firmly believe in treating people fairly and creating a tangible, positive impact through our accessible financial products. Our mission is to promote financial inclusion and digital equality for all, including enhancing the welfare of those who need them.
With the Dana Rahmah initiative, we are leveraging our network of users to crowdsource donations and our technological capabilities to champion Tech 4 Good, by providing insurance coverage to underprivileged B40 individuals alongside our partners.”
Sazali Rahman
Sazali Rahman, Allianz General’s Deputy Chief Sales Officer said,
“Malaysians spend less than 2% of our economy’s Gross Domestic Product (GDP) on non-life insurance. This shows that there is a large gap in protection, particularly in the B40 or underserved segment where the insurance spend would be even lower than average.
We are glad to have reached this agreement with TNG Digital and Yayasan Prihatin Nasional. This will directly impact those who are unable to afford insurance.”
Featured image: (Left) Dato’ Haji Mohd Aizuddin Ghazali, Chief Executive Officer, Yayasan Prihatin Nasional, (Middle) Alan Ni, the CEO of TNG Digital, and (Right) Sazali Abd Rahman, Deputy Chief Sales Officer of Allianz General Insurance Company.
