AXA Affin General Insurance Berhad (AXA) partners with GFlex40 (an insurance technology company) to launch FlexyProtect, an online business protection plan catered to the needs of small and medium-sized enterprises (SMEs).
SMEs being an integral part of the country’s economy ̶ hence AXA is committed to bridge the protection gap for underinsured businesses in Malaysia. This partnership reinforces AXA’s strong focus in enhancing its existing product solutions, accelerating digital transformation and driving omni-channel strategy.
Emmanuel Nivet, Chief Executive Officer of AXA stated that by leveraging on the technological capabilities of GFlex40, which shares similar aspirations and customer-centric values, AXA strives to deliver simple, affordable and accessible business protection plan via innovative digital technology.
“Through this partnership, we are not only able to support SMEs in mitigating unexpected risks, but also make business protection more accessible to them. We are incredibly excited of the prospect of this digital initiative. Backed by our strong agency force that is equipped with great expertise and experience, we believe we are able to empower SMEs with continuous protection and financial support to pivot their business in an increasingly digital world,” Emmanuel said.
Underwritten by AXA, FlexyProtect offers three easy and cost-effective plans that can be customised to one’s needs in the current business environment. It provides SMEs with the flexibility to choose their desired benefits, which range from comprehensive coverage to tailored benefits for food and beverage outlets as well as learning centres.
FlexyProtect can be purchased via GFlex40’s online portal. By introducing an end-to-end digital experience, the application process is further simplified to just 3 – 5 simple steps, reducing the time it takes to acquire business insurance from days to just minutes. Businesses can enjoy complete control on the entire online application process, from signing up for an account to getting covered within their fingertips.
This is made possible with GFlex40’s in-house proprietary technology ̶ the Expert Visual (aided) Actuarial Nexus (EVAN), which powers GFlex40’s capabilities to accurately perform activities such as rule-based underwriting of customers, biometric identification and verification of customers (E-KYC), data capture from IDs, Anti-Money Laundering and Counter-Terrorism Financing screening, image recognition and document authenticity verification.