Manulife Insurance Berhad (Manulife Malaysia) opens its online sales platform, ManulifeNow.com.my. The platform is designed to provide a simple, user-friendly interface for consumers to buy insurance.
ManulifeNow.com.my is the company’s effort to make insurance more affordable and accessible for consumers in Malaysia. This is in line with the industry’s efforts to increase insurance penetration in the country. The online platform aims to appeal to Malaysians between the age of 25 – 45, making the process of buying insurance simpler and faster with the new digital platform.
Manulife Malaysia CEO Mark O’Dell said, “At Manulife, we want to put our customers first by providing unsurpassed services. This new digital platform will help customers learn how insurance can help them achieve their personal dreams and aspirations, and enable them to make a purchase in a hassle-free, affordable way. This can also help improve the common perception of insurance industry among the public.”
The digital platform has been active since June this year, with Manulife Malaysia trialling the service with the Malaysian public. O’Dell notes that the response has been positive. According to him, 45% of those who purchased via ManulifeNow,com.my were aged between 35-44, while 32% were customers between 25-34.
O’Dell also explains that currently the online side of business is a separate unit that is being developed like a startup. While the digital integration of the business isn’t a major part of the business as of yet, he said the digital segment of the business is learning a growing, with the aim of integrating more digital enabled services to its main business in the future.
Currently the platform offers a term product, with medical offering and critical illness cover slated for release around Q2 or Q3 next year. Product purchase can be donw in minutes and requires information on five simple questions, with no additional requirements of medical examination. A user friendly, mobile optimised application is also available for customers to learns about the products and submit their application via smart devices.
Currently ManulifeNow.com.my offers ManuProtect, a term product available from as low as RM0.15 a day with a minimum coverage of RM 50,000.