TUNE Protect recently won the ‘Digital Insurance Initiative of the Year – Malaysia’ category at the annual Insurance Asia Awards 2019 for its on-demand insurance. The award manifests Tune Protect’s aspiration to be a leading digital insurer in the region by providing convenient on-demand protection that suits the varying needs of consumer lifestyles leveraging digital and technology.
The two revolutionary products by Tune Protect which earned the company recent win are Sports+ and Pay As You Drive (PAYD) insurance. Sports+ is an extreme sports protection plan that provides coverage from as short as 1-day to up to a year, for accidental death and permanent disablement, medical expenses and sports equipment reimbursement. PAYD, on the other hand, is designed for the ‘park & ride’ driving community, ‘second car’ customer segment and city or neighbourhood drivers, rewarding them with up to 20% refund on the basic premium paid at the end of the policy period.
“We are very humbled yet proud to have won this award as it propels us further into being a leading digital insurer in the region. The award is a testament to all the hard work and effort demonstrated by our fellow Tune Protectors in achieving this common vision. Tune Protect will continue to invest in InsurTech capabilities through the development of digital solutions and platforms which has opened doors to new business opportunities in the region,” said Khoo Ai Lin, Group Chief Executive Officer, Tune Protect Group Berhad.
In the coming year, Tune Protect remains committed to its digitalisation journey, which is aligned to 3 strategic pillars of production innovation and differentiation; wider distribution reach; and exceptional customer experience. Through its GAIN (Global Business, AirAsia Ecosystem, Insurtech Capabilities, and National Business) transformational pillars and leveraging insurtech, the company is upbeat in going beyond airlines, beyond travel insurance, and beyond conventional insurance which will enable the unlocking of new revenue streams from other sources of income in addition to the conventional underwriting profits.