Covering the “3 Highs”

Allianz’s 3H Cover protects the health of those who really need it

Insurance is meant to buy you peace of mind, especially when it comes to health. Illnesses can creep up to you silently; without sufficient planning, medical costs can be a tougher pill to swallow than the medicine. Having an insurance plan can be a literal lifesaver.

For the 63% of Malaysian adults that display one or more of the “3 Highs” – high BMI, high blood pressure, high cholesterol – insurance options may be limited; despite the higher chance of them needing insurance.

Allianz Life Insurance Malaysia Berhad noted this trend in their underwriting processes. Chief Strategy and Product Officer, Yeoh Eng Hun observes: “It is sad that these are some common reasons we were unable to offer customers cover. So we took a stand to do something different. We really wanted to give protection to those who really need it. That’s why we embarked on some research to see if we could expand coverage to this segment.”

To this end, Allianz designed a protection plan targeted for people with high cholesterol, high blood pressure and/or high BMI. The Allianz 3H Cover is a plan that includes protection for death, as well as Total and Permanent Disability (TPD) before age 65. Customers will be protected up to age 85, with up to a maximum of RM200,000.

Along with a rider 3H Critical Cover, the policy insures against four key critical illness conditions: heart attack, stroke, cancer and kidney failure. These four critical illnesses were identified by Allianz as the common major illnesses found in Malaysians.

Yeoh shares: “We wanted to keep the product relatively simple. It’s a high-risk segment but we also believe that it’s a risk that we can price and appropriately charge for. It’s really about how to serve our customers better.”

As a motivation for customers to lead a healthier lifestyle, he explains the Allianz 3H Cover offers a Complimentary Added Coverage for customers who manages to reduce their “3 Highs” back to normal levels. They will benefit from an additional 50% increase in death and TPD coverage, along with the ability to upgrade the critical illness plan to cover the full 36 critical illness without any increase in cost.

“We want to encourage them to improve their health with the rewards. We wanted to do better for the customers. To be honest, sending a decline letter to an applicant for insurance is really a negative thing, and really nobody wants to do that,” he says.

From left to right: Allianz Life Insurance Malaysia Berhad’s Chief Strategy and Product Officer Yeoh Eng Hun; Chief Executive Officer Joseph Gross; and Chief Sales Officer Ong Pin Hean during the launch of the Allianz 3H Cover

Beyond pushing out new products, Allianz partners with Cardiac Vascular Sentral Kuala Lumpur (CVS KL); Columbia Asia; Pantai Hospitals; Gleneagles Hospitals; and Nestle Omega Plus, to build a health ecosystem to protect and educate Malaysians.

Throughout the month of November, Allianz will also be conducting health talks and checks in partnership with the hospitals. Public can take advantage of this opportunity to get advice and learn about these diseases, as well as how to prevent it.

“We are always looking for new ideas, how to do things better. Our vision is to be the most reliable partner, always delivering in moments of truth. Beyond having a complete suite of offerings of products, we want to offer our customers the solutions they truly need. And that translated to the birth of this product,” Yeoh concludes.

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