KUALA LUMPUR (Sept 2): Zurich Malaysia backs the government’s planned MediAsas initiative to keep insurance and takaful protection affordable as households grapple with rising living costs.
Country chief executive officer Junior Cho said: “I think it’s a fantastic initiative because the government is looking to drive affordability and provide health protection for all Malaysians, especially the income segments that need it the most.”
Cho said Zurich is working with Bank Negara Malaysia, the government and other insurers and takaful operators on the initiative.
“We hope that the take-up rate and adoption of the Medi Aksas product is something that’s valuable and helpful for rakyat,” he added at the launch of Zurich Malaysia’s latest “Care For What Matters” campaign on Wednesday.
MediAsas is a standardised basic medical and health insurance and takaful plan aimed at providing Malaysians with more affordable access to private healthcare. Monthly premiums start from around RM60.
The initiative is currently in its pilot phase until the end of October before full rollout expected next year.
Cho said inflationary pressures are something families are increasingly mindful of, making it important for insurers to offer products that provide sufficient protection without becoming unaffordable.
“The rising cost and inflationary pressures is something that every family member, every person is mindful of. So, it is our duty and obligation to make sure that we can drive products that drive value.
“Protection is always important, not because you expect things to happen, but especially when things are unexpected,” he said.
Cho said Zurich’s approach is to continue educating Malaysians about the importance of protection while ensuring its products provide meaningful benefits at affordable price points.
Separately, Zurich Malaysia is strengthening its travel and critical illness offerings as part of the next phase of its “Care For What Matters” campaign.
The insurer has integrated Travel Guard’s capabilities into its existing travel protection business following Zurich Insurance Group’s acquisition of American International Group Inc’s global personal travel insurance and assistance business.
Zurich Malaysia launched Travel Guard Pro on Aug 18, offering travel insurance alongside round-the-clock assistance through a global network supporting more than 40 languages.
The insurer is also rolling out a critical illness campaign from Sept 2 to Oct 30, under which eligible new customers will receive a health screening cash rebate and two years of Teladoc services, including expert medical opinions and stress management support.
Cho said the initiatives reflect Zurich’s efforts to adjust its offerings as customers’ needs change through different stages of life.
“Our promise remains the same. Nothing has changed. Our commitment is more amplified,” he said.
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