KUALA LUMPUR: Today’s consumers demand greater control over their choices, and nowhere is this more evident than in the insurance sector.
As digital adoption accelerates and expectations evolve, Malaysians – particularly younger, tech-savvy individuals – are increasingly seeking insurance solutions that offer speed, transparency and effortless access.
Recent findings from the Malaysia Insurance and Takaful Customer Satisfaction Survey indicate a growing preference for online channels among customers when purchasing insurance or takaful products. This shift highlights a broader trend, that convenience and instant accessibility are now key factors influencing how Malaysians select essential services.
“At insureKU, we have designed our platform to support this shift by offering side-by-side comparisons, real-time pricing, and instant coverage – all in one place.
“But beyond the purchase, we are also focused on building intuitive, responsive post-sale support to ensure users feel secure and informed throughout their insurance journey,“ insureKU’s co-founder and CEO Shadhana Sekaran told SunBiz.
She said collaborations with global insurers are also changing the way Malaysians discover, compare and buy insurance through digital platforms.
“At insureKU, our partnerships with global insurers are making insurance more straightforward and more transparent for Malaysians. Users can now easily compare travel insurance with real-time quotes and instant coverage, all from their mobile devices.
“We are proud to work with digital-first partners like Tokio Marine, Tune Protect and Generali, and travel insurance is just the start – motor insurance and more products are on the way, all designed for today’s mobile-savvy consumers seeking speed, clarity, and confidence online.”
Shadhana said partnering with globally recognised insurers significantly strengthens insureKU’s value and brand proposition.
She pointed out that these industry leaders bring decades of expertise, financial stability and proven track records for delivering high-quality insurance solutions.
“Their involvement enhances our platform’s credibility and builds trust, particularly among first-time insurance buyers who may be new to the process.
“These collaborations also enable us to offer a broader range of robust, compliant products, and to co-develop digital-first solutions tailored to local needs, while benefiting from global best practices in risk management and customer service,“ Shadhana said.
When asked how insureKu is tailoring products and services to meet the needs of younger, digitally savvy Malaysians, she said insureKU designs every feature with the digital-native generation in mind, recognising that younger Malaysians expect speed, clarity and convenience.
As a result, the platform offers a fully digital experience where users can compare, customise and purchase policies within minutes.
“Our platform offers real-time price comparisons, clear policy explanations and instant policy issuance. We are also continually improving the experience with features such as financial planning calculators and multilingual support, making insurance more accessible and inclusive.
“As one of the earliest authorised participants in Bank Negara Malaysia’s Financial Technology Regulatory Sandbox, we further reinforce our credibility as a safe and compliant digital platform, giving users, especially first-time buyers, greater peace of mind when choosing and purchasing insurance online,“ Shadhana said.
Explaining how artificial intelligence (AI) and data analytics are shaping the future of insurance distribution and customer engagement in Malaysia, Shadhana said these technologies are set to play a big role in how insurers serve customers in Malaysia.
“At insureKU, we see this as a significant opportunity to raise the bar for customer service in the industry.
“We are still early in our journey, but the potential is clear. AI can simplify customer interactions – answering questions instantly, clarifying policy details, and guiding users through claims – while data analytics helps us continually improve support based on real user behaviour.
“Our goal is to deliver a highly personalised, intuitive service from quote to claim. As more insurers adopt digital-first models, we are excited to help make insurance more accessible and truly customer-friendly,” said Shadhana.
She pointed out that industry projections from GlobalData suggest that Malaysia’s general insurance market will expand steadily over the next few years, growing at a compound annual growth rate (CAGR) of 6.6% and reaching RM31.8 billion in gross written premiums by 2029.
This growth is being driven not only by rising consumer awareness and evolving lifestyles but also by ongoing regulatory efforts to broaden insurance coverage and develop the overall market.
Explaining how insureKU plans to increase insurance adoption among first-time buyers and underserved market segments in the next three to five years, Shadhana said the company’s partnership with global insurers is designed to support this national agenda by creating inclusive, needs-based insurance solutions.
“Through digital channels, flexible pricing, and simplified product structures, we aim to reach first-time buyers and underserved communities who have traditionally faced barriers to access. By doing so, we help lay the foundation for a more resilient, better-protected population in the years to come.
“We want to close the protection gap, especially among groups like students, gig workers, and low-to-middle-income earners. We’re doing this by making insurance easy to understand, affordable, and accessible on mobile devices,“ she said.
