Malaysians Can Now Buy And Renew Motorcycle Insurance And Road Tax Online
The online application consists of three simple steps.
By Katrina Khairul Azman — 16 Jan 2019, 03:03 PM
As of 1 January, motorcyclists in Malaysia are able to purchase and renew their motorcycle insurance online for the first time via Loanstreet
Loanstreet launched the online insurance agency service to address the alarmingly low rate of insurance coverage purchased by motorcyclists in Malaysia despite the high rate of road accident fatalities, as shown in a study published by IATSS Research.
"We wanted to get the number of uninsured motorcyclists off the road by providing a quick and easy online insurance agency service," said Jared Lim, Managing Director of Loanstreet.
In addition to motorcycle insurance, the platform also offers road tax renewal services as well as car and travel insurance services
The process "can be completed via a smartphone in just 5 minutes," and doorstep delivery of road tax is included.
"Road tax is sometimes forgotten and neglected. It's also a bit of an annoyance sometimes but it's essential so we added an easy online road tax to complement both motorcycles and car insurance," said Jared.
Applying for the insurance online consists of three simple steps:
- Enter vehicle and personal information to get a customised quote.
- Agree to the price and make payment.
- Receive a cover note via email.
Loanstreet collaborated with Zurich General Insurance Malaysia Berhad on the platform to "help Malaysians stay protected on and off the road"
"We trust the Loanstreet insurance portal will pave the way for customers to obtain the protection that they and their loved ones deserve in a hassle-free and convenient way," said Junior Cho, Senior Vice President and Head of Market Management for the General Insurance and Takaful segment for Zurich Malaysia.
With the help of Finology Sdn Bhd, the technology provider behind the service, Loanstreet also plans to provide aggregation services that compare insurance plans and rates to help customers make informed decisions.