Kuala Lumpur, 18 June 2019 – Southeast Asia’s first on-demand lifestyle insurance protection provider, VSure Tech Sdn Bhd launches the VSure.Life app (application) making it the first digital mobile insurance in the region supported by underwriter partner AXA Affin Life – eMedic medical insurance today.
Pictured left to right: Janet Chin – Chief Partnership Officer AXA and Rohit Nambiar – CEO of AXA Affin Insurance Malaysia with VSure.Life MD & Chairman / Co-founder, Eddy Wong, AXA’s CTO Dr. Azlan Zainal and VSure.Life COO/CTO/Co-founder Jason Ho.
“I congratulate Eddy Wong and his VSure team for launching eMedic as one of the first products promoted via the VSure.Life app in our pursuit to be the preferred health and protection insurer for millennials,” quipped Rohit Nambiar, CEO of AXA Affin Insurance Malaysia.
Since its soft launch last year, VSure.Life has gained traction with regulatory bodies to deliver a whole new digital landscape within the insurance industry in Malaysia.
Today, the launch of the AXA eMedic medical insurance product is one of many that is scheduled for release this year via the VSure.Life app. The VSure team has conducted extensive research and development in Usage Based Insurance (UBI) UI&UX, digital facial recognition, electronic know-your-customer (eKYC), geolocation tech, Artificial Intelligence (AI) and Block Chain and continues to push for innovation in insurance accessibility to the underserved customers in the region.
“The VSure.Life app offers insurance coverage for the entire family. Our concept of on-demand insurance when you need it suits the On-demand Economy and enables customers to turn on or off all types of insurance protection whenever, wherever and however – bringing insurance protection right into the hands of the people, especially to the masses in the M40 & B40 groups. We are very excited as a pioneering Insurtech player to offer on-demand lifestyle insurance protection in Southeast Asia and offer customers peace of mind and ease-of-use when they need it,” shared Eddy Wong (MD & Chairman) and Jason Ho (COO/CTO), both Co-founders of VSure.Life.
VSure.life is one 18 top finalists in the recent UNCDF Financial Innovation Lab B40 Challenge. The United Nations Capital Development Fund (UNCDF) was setup in Malaysia and with the support by Bank Negara Malaysia (BNM) and Malaysia Digital Economy Corporation (MDEC), it launched the Digital Finance Innovation Hub to further support the financial inclusion of Malaysia’s middle and low-income people.
The Digital Finance Innovation Hub enables service providers like Vsure.Life to use technology to promote inclusive finance through the introduction of products and services that meet the needs of the underserved in Malaysia.
“We make it our mission to make insurance protection highly accessible and affordable with innovative propositions to people living in Southeast Asia, including those in the B40 groups. In doing so, we will also play a role in enabling social economic empowerment for those with no prior financial identity records to access financial services with affordable insurance as an easy entry point. Once their financial identity is established, they can then access other financial services such as loans, mortgages and more,” added Wong, one of the nine pioneering individuals from various industry backgrounds such as data & information technology, banking and finance, insurance and asset management.
VSure.Life offers On-Demand Insurance for Sporting enthusiasts, Health & Medical, Affordable Term Life and other General & Specialty Insurance products.The VSure.Life and AXA AFFIN Life Malaysia partnership paves the way for insurance proposition to becoming more innovative and accessible and products to is also open to work with other insurance partners in the future for various insurance products. As a highly regulated industry with compliance to adhere to Bank Negara Malaysia (BNM) requirements, VSure.life app is now being evaluated on the BNM Fintech Sandbox Framework.
About VSure.Life Founded by nine ordinary individuals with a bold ambition to serve South East Asia’s communities with insurance protection they truly deserve. The VSure.Life vision is to be the leading Digital Lifestyle Risk Partner & Insurer of South East Asia with the mission to provide affordable on-demand insurance & lifestyle protection in a simple innovative way enabling social economic empowerment, adequate protection and financial identity for all. Vsure is led by MD/Chairman & Co-founder Eddy Wong who brings 24 Years of Corporate & Commercial Management & People Leadership experience with three multinationals Prudential Corporation Asia, WorleyParsons and Experian and COO/CTO & Co-founder Jason Ho who shares over 27 years of experience in the Information Technology industry with multinationals – Siemens, Logica and Experian. Visit www.vsure.life for more.
About AXA Affin Life Incorporated in February 2006, AXA AFFIN Life Insurance Berhad (AXA AFFIN Life) is a joint venture company between AFFIN Holdings Berhad and AXA Group, a worldwide financial protection leader, which is headquartered in Paris. Leveraging on the AXA Group’s strength as a financial protection expert and AFFIN Holdings’ local knowledge and diversified network, AXA AFFIN Life is focused on helping individuals manage risk and achieve their financial goals. AXA AFFIN Life will strive to build close and lasting relationship with its customers, offering them care, support and advice with the highest standard of professional ethics. Visit www.axa.com.my.