GoInsuran and FiLife offer a new lease on life insurance with their team up
In 2021, Malaysia was declared an aged nation, with the elderly population reaching 7.4 percent in 2023. Despite this, less than half of Malaysians are insured, highlighting the need for adequate life and medical coverage, especially as the population ages.
Recognizing this, digital insurance aggregator GoInsuran has partnered with local insurance tech startup FiLife to offer life insurance policies, expanding its range of services. GoInsuran, backed by the Tan Chong Group, was initially created in December 2020 to simplify car insurance and road tax renewals.
Moreover, it has since evolved into a comprehensive insurance platform, offering travel, home, personal accident, and car insurance. The addition of FiLife’s life insurance products marks another step towards GoInsuran’s goal of becoming the leading insurance e-platform. Additionally, concerns about the trustworthiness of insurance providers deter many from purchasing life insurance.
Joshua Yong, Head of Tan Chong Insure says, “Life insurance provides essential financial security for individuals and their families. We aimed to offer accessible and affordable life insurance options, and FiLife’s updates through Bank Negara Malaysia’s regulatory sandbox were a perfect fit.”
On top of that, the global pandemic has underscored the importance of financial security, yet life insurance remains out of reach for many. It covers funeral expenses, replaces lost income, and pays off debts, ensuring loved ones are protected. However, premiums have risen by up to 7.3 percent, leaving uninsured senior citizens over 70 with limited medical coverage options.
“It’s understandable why many people still don’t have life insurance. Insurance products can be complex and confusing, making it difficult to choose the right coverage. Our focus at GoInsuran is to simplify insurance, making it accessible and convenient for our users. Through our collaboration with FiLife, we aim to offer a seamless, affordable life insurance experience.” added Joshua.
GoInsuran remains committed to its roots in car insurance and road tax services, while aspiring to become an all-encompassing online insurance platform. New users can enjoy a 10 percent discount on life insurance with the promo code “GOINSURAN.” For car insurance renewals, the promo code “REFERME” offers up to RM100 off.
So take this new lease on life insurance offered by GoInsuran and FiLife and secure your life today.
