• One-off impairments and fire claims affected Tune Protect 2Q24 financial performance
• Excluding impairments and fire claims, marginal PBT of RM1.5 million

KUALA LUMPUR, 28 August 2024 – Tune Protect Group Berhad’s (“Tune Protect” or “Group”; TUNEPRO, 5230) financial results for the second quarter of the financial year 2024 (“2Q24”) were affected by one-off impairments from the Group’s subsidiary Tune Protect Ventures (“TPV”) and its associate company, Tune Protect Thailand (“TPT”), and abnormally high fire losses. Insurance revenue also declined 6.7% year-on-year (“YoY”) which led to a Loss Before Tax (“LBT”) of RM10.3 million.

How Kim Lian (“How”) Tune Protect Group’s Chief Executive Officer elaborated further on the key factors affecting the Group’s 2Q24 financial performance.

Normalised numbers, excluding one-off impairments and claims
“The Group’s profitability was impacted by the one-off impairments from TPV of RM3.0 million, as well TPT of RM4.9 million. Our net claims incurred was also higher as we experienced two abnormally large fire losses in 2Q24, in contrary to 2Q23 where we had benefitted from the better than anticipated claims experience from the Tenang Personal Acccident (“Tenang PA”) scheme, which had since been discontinued,” said How.

Consequently, the Group’s combined ratio increased 9.9% YoY due to the higher net incurred claims and attributable expenses. Increased acquisition cost ratio also contributed to the increase in the Group’s combined ratio, partially offset by a lower reinsurance ratio.

“The lower reinsurance ratio was due to the Group’s gradual exit from the Large Industrial Risk business leading to savings in reinsurance premiums. If we were to remove the anomalies mentioned above from the equation, overall, the Group would have recorded a slight Profit Before Tax (“PBT”) of RM1.5 million,” added How.



Stable investment performance and strategy
The Group maintains a conservative investment strategy while looking for opportunities to enhance its overall investment returns. Moving forward, it plans to progressively increase its investment into Low Risk Unit Trust Funds, with underlying investment predominantly in Malaysian Government Securities, Government Investment Issues, and Government Guaranteed Corporate Bonds.

“The Group’s investment performance in 1H24 has been stable and we expect more of the same in 2H24. We will be rebalancing some of our money market or fixed deposits into Malaysian government guaranteed bond funds where we are aiming for a reallocation mix of 2% in deposits and 98% in low-risk unit trust funds by the end of 2024,” said How.

Capitalising on market gaps and opportunities
The Group is reprioritising its efforts in the Travel segment with various initiatives in key growth areas such as championing the regional travel ecosystem. For example, it is focused on increasing take-up rate (“TUR”) through existing distribution channels, such as AirAsia.

“Through in-depth analysis on our current Travel business, we acknowledge that more can still be done to address the gaps in the take-up rate for the Group’s airline business such as AirAsia. Now that we’ve seen where the gaps are, we will be actively rolling out various initiatives to increase the take up rate and grow our Travel business further,” said How.

To capitalise on various market gaps and opportunities identified by the Group, there are exciting plans to optimise the airline market by seizing new opportunities based on flight durations and meeting the demands of customers with new products based on certain behaviours and lifestyles.

For medium haul flights, there are opportunities to reprice bundled products to be more competitive by offering better product benefits. For international short haul flights, the Group is benchmarking the affordability of insurance relative to air tickets and premiums to airfare ratio. It is conducting some experiments to increase the TUR by adjusting prices to match affordability.

“We are also actively looking at addressing market needs with unique new products. For example, for budget conscious non-tourists we plan to offer gadget protection at low premiums on top of our travel insurance. For event goers and concert goers, we plan to offer event protection at affordable premiums. For affluent travellers, we plan to offer cancellation insurance,” explained How.

In addition, the Group is targeting activation of airline indirect channels such as offline and online travel agents by bundling travel with tour packages, enhancement of the Group’s products at the same pricing and offering agents higher margins as part of the incentive scheme.

“We are focused on both the offline and online travel agency channels within our existing exclusive distribution partners. This will allow us to penetrate deeper into the travel ecosystem by targeting regional players in areas such as travel agencies, hotel chain, cruises and event organisers. To achieve our objectives, we will roll out global innovative travel products to maintain our market leading position and consistent customer experience. We are expecting claims ratio to taper with the growing Travel mix in our portfolio,” How continued.

Outlook
With the travel and tourism sector showing robust resurgence to pre-pandemic levels of 2019, as well as the Group’s ongoing efforts in leveraging the Travel ecosystem in the region, the Group is optimistic that the travel insurance products will continue to grow positively in the coming quarters.

“The Group has reviewed its portfolio and will focus on the more profitable segments of the business while maintaining cost discipline to ensure favourable underwriting results in upcoming quarters. We remain cautiously optimistic that our business strategies and capital strength will continue to fuel growth for the Group over the medium to longer term,” How concluded.

Kuala Lumpur, 29 July 2024 – Tune Protect Group Berhad (“Tune Protect or “Group”; TUNEPRO, 5230) today announced the appointment of How Kim Lian (“How”) as its new Group Chief Executive Officer (“GCEO”), effective 29 July 2024.

How’s new role as GCEO will involve deepening Tune Protect’s penetration into the lifestyle ecosystem and engaging with key regional players to establish Tune Protect Group as a leading regional insurance provider in the travel sector. His strategic direction will focus on showcasing the Group’s capabilities as a comprehensive service provider, encompassing technology and reinsurance, to deliver a consistent customer experience and a global product offering.

Dato’ Mohamed Khadar Bin Merican, Chairman of Tune Protect Group Berhad, said, “We are delighted to welcome How as our new GCEO. His extensive experience and proven track record in financial management and strategic development make him the ideal leader to advance Tune Protect as a key regional player. We are confident that How will strengthen Tune Protect into being a stronger sales and service organisation which will continue to grow and achieve greater heights under his leadership.”

How joined Tune Protect in 2020 as the Group Chief Financial Officer (“GCFO”). He succeeds Rohit Nambiar as the GCEO, who stepped down in May 2024.

In his previous role as GCFO, How played a key role in overseeing the Procurement, Legal, and Corporate Secretarial portfolios, alongside his core responsibilities. He was responsible to review and establish key financial strategies in aligning to the Company’s Corporate Strategy by evaluating financial operational trends, measurements, and productivity levels, aside from looking at acquisition and expansion prospects, identifying areas for improvement and accumulating capital to fund expansion.

Commenting on his appointment, How said, “I am deeply honoured to be entrusted with the role of GCEO. Together with our talented team, I am committed to driving sustainable growth and profitability across the region, delivering exceptional value to our customers, strengthening partnerships, and maximising returns for our investors. By leveraging technology and our deep industry knowledge, especially in the travel sector, we will solidify our position as a leading insurance player in the travel ecosystem.”

In addition to his role as GCEO, How also serves as a Director in Tune Protect Re Ltd., and Tune Protect Thailand.

Prior to joining Tune Protect, How was the Group Deputy Chief Financial Officer at AirAsia. How brings a wealth of knowledge in Finance Transformation, Programme Management, Enterprise Performance Management, and Investor Relations. He is a member of the Australian Society of CPAs (ASCPA), the Malaysian Institute of Accountants (MIA), the Institute of Internal Auditors (IIA), and a Certified Internal Auditor (CIA).

KUALA LUMPUR, 13 JUNE 2024 – In an era of rapid technological advancement, bridging the digital divide for students has never been more crucial. Addressing this challenge, Tune Protect Group Berhad (“Group”), in collaboration with Nourish Malaysia (“Nourish”), a non-profit organisation supporting under-privileged students through education institutions rolled out a sports and digital-focused initiative at Sekolah Kebangsaan (“SK”) Kampung (“Kg”) Baru Si Rusa, Port Dickson.

Volunteers from Tune Protect Group along with Nourish Malaysia commemorating the launch of the digital and sports-focused programme

(3^rd from right) Janet Chin, Chief Executive Officer of Tune Protect Re with (3rd from left) Mustaza Shapiai, Headmaster of SK Kg Baru Si Rusa and Tune Protect volunteers during the launch of the digital and sports-focused programme

This initiative is part of the Group’s Corporate Good (“CG”) Programme. Since October of last year, plans have been underway to donate laptops and personal computers, provide sports equipment such as a long jump pit, refurbish the digital resource centre, and more.

Through two CSR and volunteer activities conducted on 18 May and 25 May 2024, 80 volunteers from the Group spent their weekends working alongside the teachers and students of the school, supported by Nourish Malaysia.

“As Malaysia’s homegrown digital insurer, we are not just looking at providing easier access to protection but also leveraging technology to help Malaysians, particularly the underprivileged to become digitally savvy. This initiative aims to produce a generation proficient in digital skills and give a boost to future athletes capable of competing at higher levels. This further reiterates the Group’s aspiration to be a lifestyle insurer, which is why we are incorporating a stronger focus on skill development and sports,” said How Kim Lian, Tune Protect Group’s Chief Financial Officer.

The CG programme demonstrates the Group’s dedication to actively supporting the community. This initiative underscores the Group’s commitment to serving unserved, underserved, and underprivileged groups, as well as engaging and investing in local communities through various CG programmes and activities. For the record, SK Kg Baru Si Rusa has 799 students with more than 65% from the B40 category.

How added, “We are proud to announce that we have not only met but exceeded our CG commitment, achieving a remarkable 6,954 volunteer hours from 2022 to date, surpassing our initial target of 6,000 hours for the period of 2022-2024. This achievement highlights our ongoing dedication to making a positive impact in the community.”

Tune Protect Group alongside teachers and students of SK Kg Baru Si Rusa

Tune Protect Group’s volunteers engaged in a tug-of-war with students and teachers of SK Kg Baru Si Rusa

Various activities have been carried out such as painting the digital resource centre, installing vinyl tiles, participating in community clean-ups, painting murals, improving the school field area, moving and organising items and conducting activities in the field.

The Group aims for all contributions and activities to enhance learning and sports activities, while also bringing joy and comfort to the teachers and students of SK Kg Baru Si Rusa. Continuing their CG initiative, the Group will organise sports clinics for school athletes, involving a collaboration with a university’s sports faculty to provide expert training and access to advanced facilities. Additionally, the staff of the Group will conduct cyber security talks for Year 5 and 6 students, focusing on basic internet navigation and cyber security. These activities are scheduled from the end of July until December 2024.

Highlights:

• 1Q24 NWP rose 18.3% YoY
• Strong growth in Motor and Travel
• Lower insurance revenue due to conscious decision to exit Commercial business
• Focus on profitable segments to grow topline

KUALA LUMPUR, 24 May 2024 – Tune Protect Group Berhad (“Tune Protect”, or “Group”, TUNEPRO, 5230) announced its financial results for the first quarter of the financial year 2024 (“1Q24), reflecting strategic decisions and their impact on the Group’s performance.

Tune Protect reported a year-on-year (“YoY”) decrease in insurance revenue of 22.3% to RM94.6 million in 1Q24, from RM121.8 million in 1Q23. The decline is attributed to the Group’s strategic decision to gradually exit the low-retention Commercial business. This, and increased claims from the Commercial segment and expenses related to the growth of the Motor business, contributed to a Loss After Tax (“LAT”) of RM3.9 million for 1Q24.

How Kim Lian (“How”), Tune Protect Group’s Chief Financial Officer said, “The move aligns with the Group’s strategy to focus on more profitable segments and enhance overall bottom-line performance. Despite the decline in the Commercial segment, which was the intended outcome of exiting the low-retention businesses, overall Net Written Premiums (“NWP”) saw encouraging double-digit growth of 18.3% YoY to RM90.2 million, from RM76.3 million in 1Q23.”

The growth in the NWP was bolstered primarily by Motor and Travel which recorded double digit growth of 31.6% and 17.5% YoY respectively.

Improved Retention Ratio
The Group’s overall Retention Ratio increased by 2% YoY. However, the Commercial segment experienced a significant decline in retention, recording a negative retention ratio of -149%. This was due to the reinstatement of a RM1.4 million excess of loss (“XOL”) premium following a large Fire claim. In addition, the decision to exit the Commercial business which has relatively lower acquisition cost, claims, and expense ratio, coupled with the growth in Motor business contributed to a Combined Ratio of 109.8%, up from 95.4% YoY.



Stable returns from investments
Tune Protect’s conservative investment strategy, implemented since early 2023, continues to produce stable returns, recording RM9.4 million in 1Q24, an increase of 0.8% YoY. The Group’s investment portfolio comprises 80% in money market funds and deposits, and 20% in fixed income funds. The investment performance for FY2024 is expected to remain stable, influenced by Bank Negara Malaysia’s (BNM) Overnight Policy Rate (OPR) decisions and general liquidity requirements of the banking system.

3-year strategy to drive growth
The Group’s 3-year strategic focus from 2024 to 2026 includes growing cross countries and regional businesses through the regional presence of its insurance partners, selectively growing high margin lines of business, and aggressively pursuing the travel ecosystem including hotels, concerts, trips and cruises in its endeavor of establishing itself as a Travel Centre of Excellence (COE).

Growing cross countries and regional businesses
As international travel rebounds, the Group is well-positioned to leverage the capacity and route expansion plans of its partners, which include among others AirAsia, VietJet and AirArabia. As they continue to expand their operational capacity and introduce new routes such as the visa-free routes which include India, China, Japan and South Korea, this presents an opportunity for the Group to grow its travel business to capitalise on the growing demand for insurance.

With its global network presence, the Group will continue to build its partnerships and collaborations portfolio. At present, Tune Protect has a network of 45 insurance partners in 30 markets. Leveraging on its regional presence and existing partners in these markets, the Group is poised to onboard new partners with regional presence by being a one-stop service provider of tech and reinsurance.

Furthermore, to enhance its embedded insurance solutions and services, the Group will work closely with distribution partners to help them offer relevant protection at critical touchpoints along the customer journey.

Selectively growing topline and niche, highly profitable business segments
The Group will continue to grow selective topline and focus on niche yet highly profitable business segments including Travel and Personal Accident. Balancing profitability versus topline growth will be a key component in this area as Tune Protect continues to improve its financial performance.

Leveraging potential within travel ecosystem
The Group plans to fully leverage the broader travel ecosystem, targeting regional players including hotels, concerts, trips, and cruises. Plans include partnering with service providers such as online travel agents, hotels, cruises, and car rentals to build a data-driven travel insurance model.

“We remain committed to adapting and refining our approach to ensure sustainable growth and profitability. The Group remains confident that its effective business strategies and strong capital foundation will continue to drive growth over the medium to long term. Our growth strategy, underpinned by digital transformation, product innovation, and strategic partnerships, positions us well for the future,” How concluded.

KUALA LUMPUR, 22 January 2024 – Tune Protect Life, the digital life insurance and wholly owned subsidiary of Tune Protect Group Berhad (“Tune Protect” or “Group”) introduces FLEXIOne – a flexible insurance solution of Life, Medical and/or Critical Illness for the retail market. Targeting the millennials and Gen Zs, FLEXIOne provides customers the flexibility to mix and match the coverages according to their individual preferences, budget and needs with the assistance of a friendly human-like virtual assistant to guide customers throughout the entire purchase journey.

FLEXIOne is suitable for young, first-time buyers and those on a shoe-string budget, with premiums starting from as low as RM5 a month. Available for purchase on Tune Protect’s Business-to-Consumer (“B2C”) / online platform, customers can select the pre-packaged Budget plan or build their own plan, accompanied and guided, every step of the way by ‘Tracy’, the new resident virtual assistant. Tracy explains in simple language, eases customers’ understanding and paves the way for a pleasant 3-minutes-to-buy discovery and purchase experience.

Another innovative feature embedded in FLEXIOne is its AI-powered Plan Recommender. Based on certain information of the customer such as age and gender, the built-in Artificial Intelligence (“AI”) assistant will personalise and then recommend the best-suited insurance package for the customer’s consideration. The plan recommender is helpful to customers who are new to insurance and prefer to have some recommendations.

The idea behind having the AI-powered assistance is to provide the convenience and simplify the customer experience along the discovery and purchase journey.

Koot Chiew Ling (“Chiew Ling”), Principal Officer of Tune Protect Life said, “We are guided by our aspiration of bridging the protection gap in the country by providing affordable insurance solutions to consumers. With FLEXIOne, we are busting the myth that insurance is expensive and rigid. Starting from just RM5 a month, FLEXIOne is ideal for Millennials and Gen Zs who are beginners to insurance and want something light on the pocket, as well as those who are looking to top up their current insurance coverage.”

As the name suggests, FLEXIOne was built with flexibility in mind where customers have the flexibility to:

1. mix and match the coverage that they need be it medical, critical illness and/or life coverage based on their budget and preference. Customer can select one, two or all three coverages, as the choice is in their hands
2. upgrade or downgrade the plan at any point in time according to their financials, enabling them to adapt to the dynamic life stages. For instance, should a customer be in a tight financial situation, the customer can still maintain his/her insurance at a reduced premium by downgrading to a lower plan, and need not be forced to give up on it entirely;
3. choose a plan based on the Plan Recommender that is AI-assisted, thus removing the hassle of deciding what is best, especially for first-time buyers and beginners;
4. enjoy a straight through and efficient purchase journey with its straight through process where only 3 simple health questions are asked for a hassle-free acceptance.

For a limited time only, Tune Protect Life is offering 2 months FREE FLEXIOne insurance of up to a total of RM300 for purchase made through its B2C platform. In addition, customers are eligible to join the Refer and Earn campaign where each successful referral will entitle the customer to RM20 of referral fee.

With Tune Protect’s 3:3:3 customer promise, Tune Protect Life assures a quick quote within three minutes, a three-hour response time and claims pay-out within three days upon approval, thanks to the digital nature of its products and services.

“FLEXIOne checks all the boxes on insurance protection that is bite-size, simple, innovative, and most importantly, value-for-money. If you are budget conscious and want little commitment on your finances, this is the plan for you,” Chiew Ling concluded.

For more information on FLEXIOne, please visit its B2C platform.

Highlights:

• 3Q23 NWP rose 22% YoY, turned around from a loss in 3Q22
• Insurance service result grew more than 100% YoY in 3Q23
• Combined ratio in 3Q23 and year-to-date lower than 100%

KUALA LUMPUR, 23 November 2023 – Tune Protect Group Berhad (“Tune Protect” or “Group”; TUNEPRO, 5230) continued its turnaround with impressive financial results for the third quarter of the financial year 2023 (“3Q23”) with a double digit growth of 22% year-on-year (“YoY”) in Net Written Premiums (“NWP”) and a profitable bottom line driven by improvements in underwriting performance and investments.

Travel, Motor and Health lead topline growth While the Travel, Motor and Health segments led the Group’s topline growth, the overall retention ratio in 3Q23 and 9M23 exceeded the Group’s target of 70% by 4% and 6% respectively.

Rohit Nambiar (“Rohit”), Tune Protect Group’s Chief Executive Officer said, “The Group’s NWP across all the main pillars increased 22% YoY in 3Q23 and this growth has more than compensated for the absence of the Perlindungan Tenang (“Tenang”) scheme which was discontinued in FY23. Growth in the Health pillar was led by the Foreign Worker segment, while growth in the Lifestyle pillar was led by the Motor segment (up 41.1% YoY) and Travel segment (up 25.5% YoY). On the other hand, the SME segment fell marginally by 7.6% due to lower growth in the Engineering segment, which was offset by growth in the SME Fire segment (up >100% YoY).”

7.5% YoY. Though the 9M23 NWP The Group’s Digital Partnerships and eCommerce registered commendable 3Q23 NWP growth of recorded a decline by 17.6% if Tenang was included, the NWP growth excluding Tenang was encouraging with a healthy 38.8% growth, signalling the trailing off of the dependency on Tenang. The number of digital partners increased from 65 in 3Q22 to 79 in 3Q23.



Rohit explained that despite the 15.3% drop of insurance revenue YoY to RM106.9 million in 3Q23, the Group’s quarterly profitability was underpinned by the growth of the insurance service result, coupled with improved investment performance.

“Insurance service result grew more than 100% YoY to RM6.7 million in 3Q23. Furthermore, lower allocation of reinsurance premium turned insurance service result from negative to positive translating to a lower combined ratio of 95.2% during the period. In 3Q23 and the first 9 months of 2023 (“9M23”) combined ratio were lower than 100%. These healthy indicators, coupled with rising investment performance with total investment income of RM6.8 million have led to the Group’s profitability in the quarter,” Rohit said.

Pioneering MSME solutions with CGC collaboration The Group continues to place great emphasis on its digital partnerships, both domestically and regionally. The Group remains an industry pioneer by becoming the first insurer to collaborate with Credit Guarantee Corporation (“CGC”) to introduce digital insurance solutions for Micro, Small and Medium Enterprises (“MSMEs”). Through the partnership, CGC offers solutions such as Tune Protect’s SME Business Shield, SME EZY and PA Easy via affiliate links. The Group has also been participating in CGC’s outreach programmes for MSMEs, offering educational initiatives such as interactive workshops, training programmes and informative sessions.

The Group is also making huge strides in expanding its presence in Southeast Asia. A prime example is Vietnam which has emerged as a significant contributor to the Group’s topline performance after the Malaysia and Thailand markets. The Group’s partnership with Baoviet Insurance and Vietjet Air contributed 15% of the total Gross Written Premium (“GWP”) from Vietnam in 3Q23. More than 80,000 Travel insurance policies were issued in the quarter through Vietjet Air’s flight booking platform, which is also set to be activated in Indonesia by 4Q23 and India, Japan and South Korea by 1Q24, with more countries planned beyond.

Another of the Group’s key focus area is the next phase of the new Group’s core system HYDRO and Tune Integrated Producer System (“TiPS”) implementation. The next phase of HYDRO involves immediate policy processing, centralised customer record, automated workflow and speed-to-market. The implementation of TiPS includes one stop point of sales for quotation, payments endorsement and renewals, one stop service counter for sales dashboard and statement, as well as online learning for distributors and intermediaries.

Positive outlook on investment yields The Group has affirmed its investment strategy for its portfolio totalling RM714.5 million as of 30 September 2023. Moving forward, Rohit is confident that the Group will deliver favourable investment returns.

“Close to 80% of our portfolio is invested in money market funds and term deposits. Bank Negara Malaysia (“BNM”) has again maintained the current Overnight Policy Rate (“OPR”) at 3.0% for the 3rd successive meeting, reiterating its stance that the monetary policy remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects. Our conservative asset allocation continues to shield us from recent market volatility. We will remain vigilant on developments in both global and local capital markets,” Rohit concluded.

Travel worry-free with the convenience of cashless hospital admission

KUALA LUMPUR, 30 October 2023 – Tune Protect Group Berhad (“Tune Protect”) and AirAsia Aviation Group Limited (“AirAsia”) announce the launch of the newly enhanced AirAsia travel insurance, the AirAsia Comprehensive Travel PLUS, featuring the practical addition of Cashless Hospital Admission services for policies issued by Tune Protect Malaysia and Tune Protect Thailand. Commencing 19 October 2023, this innovative feature offers travellers a seamless and hassle-free experience when seeking medical assistance abroad.

The AirAsia Comprehensive Travel PLUS, featuring the Cashless Hospital Admission services is offered with a starting premium of as low as RM 74 for a return trip plan. This option is open for purchase to travellers departing from Malaysia and Thailand and can be conveniently accessed through all AirAsia online and offline booking platforms, including the Manage My Booking feature and Online Check-in via the airasia MOVE app.

Janet Chin, Chief Partnership Officer of Tune Protect said, “Our collaboration with AirAsia aims to enhance the travel experience for our customers by providing them with a comprehensive insurance coverage and simplifying the process of accessing medical care in foreign countries. The AirAsia Comprehensive Travel PLUS is a practical feature for travellers. With this newly added proposition, we are removing the hassle of paying for hospital admissions during overseas travel, which can take a toll on their finances. It reflects our commitment to offering our customers the best protection and peace of mind during their journeys.”

Aside to the new addition of the Cashless Hospital Admission services, the AirAsia Comprehensive Travel PLUS include other benefits such as trip cancellation, flight delay, loss or damaged baggage, and loss of personal money and travel documents, among others.

Karen Chan, AirAsia Group Chief Commercial Officer said, “At AirAsia, we believe in continuous improvement of our customers’ travel experience. We are dedicated to offering value-added product benefits and services that provide our guests convenience and peace of mind throughout their journeys. We also understand that travel can be an enriching yet unpredictable adventure, and that is why we go the extra mile to provide an extensive range of coverage to cater to our travellers’ diverse needs. With AirAsia Comprehensive Travel Plus, our guests can now explore the world worry-free, knowing that their medical needs will be efficiently addressed in the event of emergencies. More time to explore, less time to worry.”

The key feature of this newly enhanced product is the Cashless Hospital Admission Service, which does not impact the insurance premium, or any other benefits and sum limits stated in the policy. AirAsia passengers who have purchased the return trip plan of the Travel Insurance for flights departing from Malaysia or Thailand will automatically gain access to these features.

To activate the Cashless Hospital Admission services while abroad, customers simply need to follow a straightforward process:

1. Contact the Tune Protect – AirAsia Emergency Hotline at +603 2302 0033 and provide their flight booking number for verification.
2. Upon verification, a Medical Agent will notify a nearby Medical Provider and, if necessary, arrange transportation.
3. A Guarantee Letter will be issued directly to the Medical Provider to ensure uninterrupted medical attention.
4. Policyholders can be rest assured that their medical bills will be taken care of, eliminating the need for claim submissions.

The AirAsia Comprehensive Travel PLUS offers healthcare access to over 5,000 hospitals worldwide in collaboration with the globally renowned care and mobility provider, Europ Assistance. This added feature eliminates the unexpected out-of-pocket expenses and providing the ultimate peace of mind for worry-free travel. By combining seamless travel experiences with comprehensive insurance coverage, Tune Protect and AirAsia are redefining travellers’ experience while navigating the world.

For more information on AirAsia Comprehensive Travel PLUS with Cashless Hospital Admission Services, please visit https://www.tuneprotect.com/airasia/en/product/comprehensive-travel-insurance-plus-plan/

KUALA LUMPUR, 17 October 2023 – In light of the recent suspension of MYAirlines operations, Tune Protect Malaysia (“Tune Protect”, “the Company”), a leading provider of travel insurance is pleased to extend their support by offering a goodwill payout of up to RM200 per person to affected passengers who have purchased Tune Protect Travel Insurance for their cancelled flights with MYAirlines. The goodwill payout is calculated based on 50% of the flight ticket price, subject to a maximum of RM200 per passenger.

While the suspension of airline operations does not fall under the coverage of Tune Protect Travel Insurance, the Company acknowledges the inconvenience and losses resulting from this regrettable incident for affected passengers. In response, Tune Protect is taking proactive steps to offer a measure of relief.

Jubin Mehta, Chief Executive Officer of Tune Protect Malaysia said, “We extend this invitation to our Travel Insurance customers who may have been impacted by this unfortunate event to contact us for assistance with the goodwill payout. While such incidents are not typically covered by insurers, we empathise with our customers and would like to extend our support beyond the conventional domain of insurance protection.”

Tune Protect has outlined the terms and conditions for the payout, aimed at assisting MYAirline passengers who have purchased Tune Protect Travel Insurance:

1. The cancelled trip must be insured by Tune Protect Travel Insurance.
2. The Travel Insurance policy must have been purchased prior to 12 October 2023 and has not been cancelled.
3. The commencement date of the policy must be from 12 October 2023 and onwards.
4. This payout applies exclusively to flight tickets acquired with MYAirline as the designated carrier, valid for travel starting from 12 October 2023 and onwards.
5. The payout will amount to 50% of the flight ticket price, nett of any discount, subject to a maximum of RM200 per passenger.

1. Download, complete, and save the PDF editable claim form available on Tune Protect website.
2. Email the following documents to [email protected]:
   • Duly completed claim form
   • Flight itinerary from MYAirline (for trip commencing 12 October 2023 and onwards)
   • Invoice of flight tickets purchased with MYAirline as the designated carrier
3. Once the application is received, it will be reviewed accordingly and upon approval, the payment will be made within 3 working days from the approval date

Please ensure that all the necessary documentation is provided as per the requirements outlined in the claim form. Tune Protect understands the importance of a prompt and efficient claims process to assist affected passengers during this challenging time. For any queries or assistance during the claims process, affected passengers can reach out to Tune Protect through its customer service hotline at 1-800-88-5753 or by sending an email to [email protected].

Dubai, United Arab Emirates, 04th October 2023 – Tune Protect EMEIA (“Tune Protect”), the leading digital travel technology facilitator in the Europe, Middle East India & Africa, has formed a strategic partnership with Akbar Travels UAE (“Akbar”), to facilitate Blue Ribbon Bags’ (“BRB”) value added services in the booking journey of the travel agency’s digital platform to service Akbar Travels global customers.

Tune Protect is one of the largest distribution partners for BRB globally, and its offerings has been integrated within Tune Protect Application Programming Interface (“API”), making it possible for Tune Protect to offer BRB’s services to any travel agency worldwide.

Tune Protect’s API is powered by White Label, the Insurtech arm of the Tune Protect Group based in Malaysia.




“As the digital facilitator for travel within the EMEIA region, Blue Ribbon Bags has been our partner since 2019, and we are delighted to extend their offering through our collaboration with Akbar Travels. We believe that with the value-added offering, we will effectively meet the needs of travelers, particularly customers of Akbar Travels through a seamless digital customer journey,” said Arijit Munshi, Chief Executive Officer of Tune Protect EMEIA.
Akbar Travels of India stands as the most prominent travel company in the region, boasting the highest count of International Air Transport Association (IATA) approved Branches, a substantial workforce, and significant business turnover. Having achieved years of prosperous operation since 2007, akbartravels.com is now positioned for further expansion. Alongside enhancing its current offerings for customers and travel associates, the website has introduced a multitude of fresh travel-oriented products.

Ashiya Nazar, Director, Akbar Travels said, “I’m delighted to announce the strategic partnership between Akbar Travels and Blue Ribbon Bags facilitated by Tune Protect EMEIA, tailored to enhance travel experiences in the Middle East. This collaboration is set to redefine the travel experience, offering our valued customers an added layer of peace of mind. With Blue Ribbon Bags’ innovative baggage tracking solutions, travelers in the region can now enjoy enhanced security and convenience when it comes to their checked luggage. We look forward to a seamless journey ahead, ensuring that your travel experience with Akbar Travels remains nothing short of exceptional..”

BRB is a service which will instantly track and expedite the return of any luggage when lost at any airport. BRB will pay travelers a minimum of USD100 or equivalent in any currency if their bag is not returned to them within 96 hours. Through this strategic partnership, BRB’s offering is now live and currently available on AkbarTravels.com.

Commenting on the partnership, Robert Ardino, Vice President, Blue Ribbon Bags said, “BRB is thrilled to embark on this notable partnership with Akbar Travels via Tune Protect. With over 21 million misplaced bags each year, we believe our service provides customers with a convenient solution to ease the challenges of misplaced baggage, and we aspire for Akbar Travel’s customers to experience a reassuring sense of comfort when utilizing our services.”
To find out more about Tune Protect EMEIA, BRB and Akbar Travels and their services, please visit:

• www.tuneprotect.com/emeia
• tpemeia.blueribbonbags.com
• www.akbartravels.com

Dubai, UAE 20th September 2023 – Tune Protect EMEIA (“Tune Protect”), UAE, the leading digital travel technology facilitator in the Europe, Middle East India & Africa, entered a strategic partnership with AirLegit, a technology provider specializing in air travel tools, aimed at empowering travel companies to enhance the travel experience of their customers. These comprehensive travel technology solutions will be introduced to travel agencies throughout the EMEIA region.

Through this partnership, a suite of travel technology solutions will be introduced encompassing three key areas namely,

• FlightWatcher; a service that offers flight monitoring and notifications, ensuring travellers are informed about any status updates related to their flights,
• Automated Check-in; a streamlined check-in process providing automated check-in and issues mobile boarding passes, and
• Air Ticket Warranty; alternative flight arrangements with another airline via automated rebooking with original ticketing agency, in the event flight is canceled.

All three solutions are driven by state-of-the-art technology aimed at offering convenience and peace of mind to travelers.

“We are pleased to announce this new partnership with AirLegit. The Big Data and AI-driven solutions will provide value to our travel partners and will enhance the travel experience of their customers, be it for leisure or corporate travel. Relevant knowledge and ease of access will offer an increased peace of mind to travelers”, said Arijit Munshi (“Arijit”), Chief Executive Officer of Tune Protect EMEIA.

“This partnership represents a synergy of technological innovation and industry expertise. As we combine our strengths, we are poised to bring cutting-edge solutions to the forefront of the travel sector,” added Arijit.

“We are delighted to expand our collaboration with Tune Protect into strategic partnership. Leveraging Tune Protect’s sales capabilities and extensive network connections within the EMEIA region, enables our innovative combination of flight performance data analytics, proactive personalized traveler support and ready-made travel disruption automation tools. to reach travel industry partners more effectively, thereby enhancing the travel experience for all travelers globally,” stated Sneharthi Roy (“Sneharthi”), Chief Executive Officer of AirLegit.

The FlightWatcher service provides seamless notification to the customers, offering real-time updates on their flight status. These ticketing agency branded notifications go beyond the basics, delivering relevant insights and actionable recommendations that empower customers to make informed decisions. On the other hand, the Automated Check-in feature streamlines the travel experience, sparing the customer the hassle and stress of manual check-ins, while highlighting the value ticketing agencies bring to their customers.

“Our digital assistant takes care of the process, generating mobile boarding passes on behalf of our clients, that include essential details such as passenger seat preferences, frequent flyer information, passport numbers, as well as any other relevant information ticketing agency needs to provide to its customers. Lastly, the AI-powered Air Ticket Warranty service comes into play when flights are canceled. On behalf of our clients and based on their requirements, this service intelligently proposes alternative routes and flights, ensuring that the affected customers can swiftly secure new travel arrangements,” added Sneharthi.

AirLegit functions as a B2B Travel Technology company. Through its advanced automation, the company vigilantly oversees all aspects of a traveler’s journey, promptly notifies users of any updates, identifies, and resolves disruptions, and customises personalised solutions for air travelers, beginning from the initial booking stage up to the conclusion of their journey.

For more information on Tune Protect EMEIA and AirLegit, please visit www.tuneprotect.com/emeia and airlegit.com.