Tune Protect Malaysia Launches Its First Critical Illness Product, Critical Safe+, An Affordable And Flexible Online Health Insurance

  • Affordable and flexible – option to stack based on required coverages and budget; reaffirm the strong customer-focused approach
  • Tune Protect commits to paying an additional 1% of the sum insured for claims paid beyond 3 working days from the approval date, in line with its 3:3:3 commitment
  • Provides ease and convenience through a fully digital customer journey; renews the idea of health insurance for the Millennials and Zillennials
  • The ideal Health insurance – heavily associated to customers lifestyle choices
KUALA LUMPUR, 24 August 2022Tune Protect Malaysia (“Company”, “Tune Protect”), the Malaysian General Insurance subsidiary of Tune Protect Group Berhad (“Group”) has launched its first Critical Illness Insurance, Critical Safe+, an online Health insurance which covers Advanced Stages of Critical Illnesses with affordable cost, flexible options and wide range of benefits to create awareness and appeal to the Millennials and Zillennials. It is designed to help customers cope financially upon diagnosis of critical illnesses while they focus on recovery with peace of mind.

Critical Safe+ reaffirms the Company’s strong customer-focused approach by providing the option to customers to stack and customise their Health coverage based on their lifestyle needs and budget, in line with the Group’s aspiration of being the lifestyle insurer that everyone loves.

Tune Protect has a 3:3:3 commitment where customers can buy in 3 minutes, receive a response in 3 hours, and get their claims paid in 3 working days1. In conjunction with the launch of Critical Safe+, the Company is committing to paying an additional 1% of the sum insured if customers do not receive their claims in 3 working days from the approval date.

The end-to-end fully digital customer journey further reiterates the lifestyle insurer aspiration as the Group intends to target the digitally savvy Millennials and Zillennials.

According to the National Health and Morbidity Survey 20192, data showed that only 22% of the population are insured with personal health insurance (PHI), with 36% of the uninsured population claiming that PHI is not necessary and a staggering 43% of them unable to afford PHI.

Jubin Mehta (“Jubin”), Chief Executive Officer of Tune Protect Malaysia echoed the sentiment, “The current Malaysian economic climate is causing financial burnout on the working population. The increasing cost of living and escalating medical cost are not mirrored in the standard of living, where individuals are prone to health issues and illnesses. The rising costs of healthcare facilities and result-oriented working lifestyles implies negligence on health. With Critical Safe+, customers can customise their insurance plan based on their budget and obtain the necessary financial protection against these critical illnesses. Leveraging on digital, we hope to expedite customers insurance journey and appeal to the Millennials and Zillennials.

About Critical Safe+ Critical Safe+ comes in three different options, which are; Top 2, Top 5, and all 39 critical illnesses with sum insured from as low as RM30,000 up to RM200,000. Customers can choose any of these three options based on their coverage needs and budget. All three options cover Advanced Stages of critical illnesses with a 100% pay-out upon diagnosis. For customers who wish to enhance their protection, they can opt for the Top 5 or all 39 critical illnesses options which give them the flexibility to add on Early Stage Cover and Diabetic Care Disease with additional premiums to their main plans. Early Stage Cover pays out 50% of the sum insured upon diagnosis, whilst Diabetic Care Disease consists of an additional sum insured of up to RM50,000.

“The provision of options allows the flexibility for our customers to decide the extent of coverage, sum insured, and optional add-ons. This flexibility reverberates the notion that Customer Knows Best and they are free to decide on the plans that are optimal for them, which may not necessarily be as expansive or as costly,” Jubin added.

The Top 2 option insures customers against Heart Attack and Cancer; Top 5 for Heart Attack, Cancer, Stroke, Serious Coronary Artery Disease, and Kidney Failure; and all 39 critical illnesses option covers a more comprehensive list of critical illnesses.

Critical Safe+ is made available online through Tune Protect’s website and mobile app, and all purchases online will be eligible for a 15% discount. The claiming procedure is also fast and easy as customers can claim through the same online channels, making the journey hassle-free and convenient. In addition to that, customers can also opt for a monthly premium payment to ease their financial commitment.

Simplifying Insurance Through Digital According to the Department of Statistics of Malaysia3, Millennials and Zillennials formulate 69.6% of the total population in Malaysia. The overall group productivity and contribution to the GDP is valuable. The solution lies in transforming the insurance buying process through digitalisation, enabling the millennials and Zillennials to obtain insurance protection. There is a need to simplify the insurance journey including eliminating the rigorous underwriting process, and hyper-personalising insurance solutions to make insurance buying an engaging rather than a prescriptive process.

“Critical Safe+ is a much-awaited addition to our Health portfolio, one of the three key business pillars for the Group. This is a tangible outcome of our efforts to further diversify the business, particularly in the Health segment. Our robust digital and technology capabilities have been one of the key success factors in our go-to market strategy and there will be more exciting propositions that we will be rolling out such as Health Tech proposition to complement our Health insurance offerings,” said Rohit Nambiar (“Rohit”), Group Chief Executive Officer of Tune Protect.

Sustainability In Action On a sustainability front, Tune Protect pledges to contribute RM6 for every Critical Safe+ policy sold to Yayasan Chow Kit’s children health fund, Madhya’s Gift which was set up by Yayasan Chow Kit to provide healthcare to children from less privileged families who are in need of medical treatment.

Customers who purchase Critical Safe+ will also receive RM50 credit in their e-wallet in a special launch campaign that ends 30 September 2022.

For more information or to purchase Critical Safe+, please visit the Company’s website or download the Tune Protect’s mobile app from the Apple App Store or Google Play Store.

1 Terms and conditions apply
2 National Health & Morbidity Survey
3 DOSM Statistics