Allianz Offers Free Insurance Coverage for FAOM Start-Ups

Good news for the start-ups members of the FinTech Association of Malaysia (FAOM) as they will be receiving free annual Group Personal Accident (GPA) coverage from Allianz Malaysia. However, this sponsorship will only apply to start-ups that comprise of less than 30 employees.

(L-R) Michael Fong, the Head of Digital Partnerships and Innovation for Allianz General Insurance Company (Malaysia) Bhd; Wilson Beh, Treasurer of FinTech Association of Malaysia (FAOM) and David Fong President of FAOM during the networking session at Ploy on 8 March 2018.

“In coming up with this initiative, we want to help start-ups relieve the burden of certain issues that could hinder their growth like financial liabilities arising from employee accidents, which is a huge responsibility that can be offset by a Group Personal Accident coverage,” says Michael Fong, Head of Digital Partnerships and Innovation, Allianz General Insurance Company (Malaysia) Bhd.

He goes on by saying: “For a start-up, taking on the full responsibility for the cost of insurance can be a daunting task, especially when they are just starting out with limited capital and resources. This is why Allianz is going the extra mile in sponsoring FAOM-registered start-ups with our GPA policies.”

The Allianz GPA insurance provides compensation to employees who experience death or permanent disablement caused by accidents and can also be upgraded to cover temporary total or partial disablement as well as medical expenses incurred from accidental losses.

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