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Purchasing life insurance is no longer a complicated affair. Gibraltar BSN Life Berhad (“Gibraltar BSN”) today unveiled its e-Commerce platform, i2u, allowing customers to purchase affordable insurance plans and receive coverage in less than the time it takes to finish a cup of coffee.
The timely introduction of i2u rides on the rapid growth of Malaysia’s e-Commerce market which is projected to reach US$11 billion in 2025. Gibraltar BSN’s Chief Executive Officer Lee Kok Wah said, “The COVID-19 pandemic has amplified awareness of life insurance and significantly accelerated the shift in online consumer behaviour in Malaysia. Customers want affordable insurance products that they can understand and it is hassle-free to purchase. With i2u, we hope to capitalise on this perfect opportunity to deepen insurance penetration by providing Malaysians with affordable direct products purchased on a user friendly platform and a simple customer journey that delivers instant protection the moment their payment goes through.”
On i2u, customers can purchase one or all three of Gibraltar BSN’s most popular direct products without any need for medical tests or paperwork. All applications undergo a quick online underwriting process, with the customer receiving the e-policy in their email instantly.
Currently, i2u offers three (3) simple and affordable direct products; i-Care, a term life insurance plan from RM9.75 per month, i-Med, a medical card plan from RM41.85 per month, and i-Protect, a critical illness coverage plan from RM7.60 per month. The life insurer plans to include other direct products on i2u in the near future.
A key differentiator of i2u is the nomination section in the online application form for its product, i-Care. Expanding on this, Kok Wah said, “Seeing how unclaimed monies held by the Accountant General’s Department ballooned to RM8.75bil in December 2019, we wanted to remind our customers to name their beneficiaries so their loved ones are protected in the event of an unfortunate event.”
i2u can be accessed at www.gibraltarbsn.com/i2u. The Live Chat feature on the website also provides after-sales support by Gibraltar BSN’s Customer Care representatives.