PolicyStreet Capitalises on Bjak’s Controversy to Highlight Its Own Offerings

PolicyStreet Capitalises on Bjak’s Controversy to Highlight Its Own Offerings

by May 7, 2024

Malaysian insurtech PolicyStreet has seized the opportunity to reassure consumers of its “compliance and reliability” following the controversy involving its competitor Bjak, which was denounced by the Malaysian Road Transport Department (JPJ) for unauthorised road tax renewal services.

PolicyStreet stressed its position as a financial advisor approved by Bank Negara Malaysia and added,

“We also prioritise compliance by exclusively using authorised channels which have been approved by the Road Transport Department (JPJ) to renew our customers’ road tax.”

The company, which collaborates with over 40 insurers in Malaysia, is capitalising on Bjak’s recent regulatory challenges by promoting its existing free digital road tax renewal as part of its car insurance renewal offering.

Additionally, PolicyStreet has launched the “Bandingkan Dengan Bijak” or “Compare Smartly” campaign, which is startlingly similar to Bjak’s design.

PolicyStreet said that it is “offering a guaranteed discount that ensures its car insurance renewal rates are lower than Bjak’s” as part of the campaign.

JPJ recently clarified that Bjak’s road tax renewal services were unapproved and potentially misleading to the public, noting its lack of integration with JPJ’s systems which led to consumer complaints about incorrect tax expiration dates.

The department stressed that the operations regarding road tax renewal are conducted without the approval of JPJ or the Ministry of Transport (MOT), and the additional charges imposed by Bjak have not been approved.

Following the JPJ statement, Bjak had backpedaled and said that it offers road tax renewal as a free optional service to its customers and it is not affiliated with any governmental mandate.

JPJ had also encouraged vehicle owners to renew their road tax directly through official channels such as JPJ counters, kiosks, the MyJPJ app, the JPJ portal, and partner platforms including Pos Malaysia, MyEG, and Puspakom.