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Flexi-Fit: Personal Accident Insurance for the Physically Active
November 1st, 2021 at 2:14 am
Malaysia’s first on-demand digital lifestyle insurer, VSure.life today announced the launch of its latest products, Flexi-Fit and EzPA. Recently approved by Bank Negara (BNM), the products are in line with the company’s vision to provide affordable and convenient insurance options to Malaysians. By lowering the entry barrier, VSure.life looks to ensure that all Malaysians are protected when it matters most.
Flexi-Fit: Personal Accident Insurance for the Physically Active
Underwritten by VSure.life, Flexi-Fit was designed with physically active individuals in mind, providing not only compensation and reimbursement in the event of sports injuries but also covers the loss or damage of sports equipment, identity theft protection and not to mention, COVID-19 too. The plan can be secured for sporting events and will last throughout the duration of coverage chosen. Currently, Flexi-Fit is available for runs and marathons, with cycling and hiking being explored as future sporting events that can be covered as well.
Flexi-Fit aims to provide ease of mind to all sports event participants, as VSure.life seeks partnerships with marathon organisers and other sporting events driven by public participation moving forward. Recently, VSure.life organised its own MalaysiaKu Run under 5km and 10km to commemorate the launch of Flexi-FIt where a majority of the proceeds were pledged to Dapur Jalanan Kuala Lumpur. VSure is also organising Pink Runs in October consisting of fun runs (5km & 10km) alongside a half marathon at 21km where a majority of the proceeds will be donated to Majlis Kanser Nasional (MAKNA).
“While we realise the gap, we are attempting to address through more affordable insurance options for a variety of scenarios, we are also aware of the role that a fintech like us can play in ensuring underserved communities are supported during these trying times. As part of our Tech For Good initiative, we are pleased to help organisations such as Dapur Jalanan Kuala Lumpur and MAKNA with donations that are severely needed during this pandemic,” said Jason Wong, CMO of VSure.life.
With insurance premiums in Malaysia increasing over past years between 6% to 8% per year, typical insurance options are becoming unattainable for most B40 and M40 communities. The major factor of this increase is due to the rising medical costs in Malaysia, as can be seen by the 13.1% increase between 2019 and 2020. This further proves it is crucial for more affordable options that empower underserved communities with protection that doesn’t become a financial burden.
Alongside Flexi-Fit, VSure has also launched EzPA which provides yearly personal accident insurance with 24-hour protection within Malaysia against bodily injury caused by an accident resulting in permanent disablement or death. At less than RM 8.00 per person, all Malaysians are able to acquire protection for themselves and their loved ones at an affordable rate.
“It is with great pleasure that we are able to announce Flexi-Fit and EzPA and we are grateful that through our various partners and governing bodies such as BNM, we are able to realise our vision to provide more convenient and affordable protection to Malaysian citizens. To heal as a nation, we must make important strides towards improving accessibility of important health benefits such as insurance for all Malaysians.” said Eddy Wong, Co-Founder, Chief Executive Officer & Managing Director of VSure.life.
Pioneering the digital transformation of Malaysia’s insurance industry, VSure.life’s Flexi-Fit and EzPA’s offerings are available on the mobile application now. The app allows Malaysians to create their accounts, explore the different offerings, make digital payments, access current and past policies as well as identify sporting events that are covered by VSure.life.
To access what VSure has to offer, download the app here, available for iOS users via the App Store and Android users via the Google Play Store.
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