AIA Malaysia, TNG Digital in strategic partnership with plans to push insurance services
By Digital News Asia July 27, 2021
- AIA to provide personalised solutions to over 16mil Touch ‘n Go e-wallet customers
- Allows e-wallet customers convenience of buying, renewing and claiming policies
AIA Malaysia (AIA) has taken up a minority equity investment in TNG Digital Sdn Bhd (TNG Digital), which owns Touch ‘n Go e-wallet under a long-term strategic partnership.
In a joint statement, AIA said that it will provide innovative and personalised digital insurance solutions to meet the protection needs of over 16 million Touch ‘n Go e-wallet customers nationwide.
Through the powerful and highly efficient digital insurance technology that it will bring to the partnership, AIA said it will offer Touch ‘n Go e-wallet customers a seamless, convenient and frictionless experience, making it easy to buy, claim and renew policies.
“The announcement marks the continuation of our digital transformation journey and ambition to reach new customer segments using online platforms. More importantly, it reinforces our commitment to bringing new, innovative products to market in this increasingly digital world,” said Ben Ng (pic right), chief executive officer (CEO), AIA Bhd.
“We must constantly look to expand and give Malaysian consumers greater choices, enabling them to obtain the right coverage they need across different stages of their lives, in any way that they prefer, and at the right time,” he added.
The collaboration allows AIA to offer Touch ‘n Go e-wallet customers insurance solutions that they can purchase online as well as through consultative selling provided by AIA’s existing distribution channels.
This includes its 19,000-strong agency force who are capable of advising on comprehensive insurance and takaful coverage, AIA said.
“We’re pleased to announce this strategic partnership with AIA. They are a company who sees building customer value propositions in the same way as us – using technology and innovation effectively, to bring higher value, bespoke offerings to the end user,” said Effendy Shahul Hamid, group chief executive officer of Touch ‘n Go Group
“Insurance is a key pillar for us as we continue to expand into financial services, and we look forward to collaborating with AIA to disrupt the segment and bring better and more relevant products and services to Touch ‘n Go eWallet users.
“We also look forward to AIA’s strategic participation as a shareholder of the Touch ‘n Go eWallet company.”
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