Malaysian insurer Tune Protect Group has rolled out two new offerings for micro, small and medium enterprises (MSMEs) to help them better protect their employees’ well-being and manage their own business risks.
The first offering is an online employee health and life insurance by Tune Protect Life. This allows employers the flexibility to purchase life or medical insurance or both, for their employees directly on a business-to-consumer (B2C) channel.
Incorporated with the insurance is a health/wellness-based rewards programme called Activ8, which aims to improve employees’ health, well-being and productivity through annual health screening and digital coaching programmes.
Business owners will be able to purchase the SME EZY product and plan of their choice directly with up to 10% rebate.
The second offering is a user-friendly homegrown SME Microsite by Tune Protect Malaysia. It is a one-stop platform for MSMEs to obtain customised business insurance solutions.
The microsite offers easy access to information, enabling MSMEs to make informed decisions about their coverage needs.
It also provides a marketplace for MSMEs, offering profession-based insurance bundles such as Business Shield with a 15% platform-exclusive premium rebates and connecting them with partners’ offerings.
Tune Protect claims to offer a quick quote within three minutes, a three-hour response time and claims pay-out within three days upon approval.
Rohit Nambiar, Group Chief Executive Officer of Tune Protect said,
“It is unfortunate to see that despite being a vital part of the economy, contributing 37.4% to the GDP in 2021, SMEs remain largely uninsured or underinsured. This protection gap exposes them to significant risks and vulnerabilities.
Hence why, we as a digital insurer, are taking proactive steps to address the insurance needs of MSMEs, leveraging our digital-first approach. Everyone deserves to be protected.”
Jubin Mehta, Chief Executive Officer of Tune Protect Malaysia said,
“Complexity, affordability, and lack of customisation have been significant challenges for MSME business owners when obtaining insurance. Through our one-stop microsite solution, we aim to address these challenges head-on.
By providing customisable insurance solutions and simplifying the process of managing risk, we not only aim to enhance the customer experience but also to provide our MSME community a platform to collaborate with one another.”
