AIA Malaysia (“AIA”) is delighted to announce the formation of a long-term strategic partnership with TNG Digital Sdn. Bhd. (“TNG Digital”), owner of Touch ‘n Go eWallet, Malaysia’s largest eWallet company.
AIA will provide innovative and personalised digital insurance solutions to meet the protection needs of over 16 million Touch ‘n Go eWallet customers nationwide, further demonstrating the insurer’s commitment to digital innovation and the Malaysian market.
Through the powerful and highly efficient digital insurance technology that it will bring to the partnership, AIA will offer Touch ‘n Go eWallet customers a seamless, convenient and frictionless experience, making it easy to buy, claim and renew policies.
AIA will also make a minority equity investment in TNG Digital.
Ben Ng, Chief Executive Officer of AIA Bhd., said: “Today’s announcement marks the continuation of our digital transformation journey and ambition to reach new customer segments using online platforms. More importantly, it reinforces our commitment to bringing new and innovative products to market in this increasingly digital world.”
“The need for insurance continues to heighten in the midst of the pandemic. We must constantly look to expand and give Malaysian consumers greater choices, enabling them to obtain the right coverage they need across different stages of their lives, in any way that they prefer, and at the right time,” he said.
The collaboration with a best-in-market digital partner allows AIA to offer Touch ‘n Go eWallet customers insurance solutions that they can purchase both directly online as well as through consultative selling provided by AIA’s existing distribution channels – including its 19,000-strong agency force – who are capable of advising on more comprehensive insurance and takaful coverage.
“We are excited by the tremendous potential this partnership brings, as we set out to build long-term relationships with Touch ‘n Go eWallet’s customers to help them live Healthier, Longer, Better Lives,” Ben added.
Effendy Shahul Hamid, Group Chief Executive Officer of Touch ‘n Go Group said: “We’re extremely pleased to have been able to announce this long-term strategic partnership with AIA. They are a company who sees building customer value propositions in the same way as us – using technology and innovation effectively, to bring higher value, bespoke offerings to the end user.”
“Insurance is a key pillar for us as we continue to expand into financial services, and we look forward to collaborating with AIA to disrupt the segment and bring better and more relevant products and services to Touch ‘n Go eWallet users,” Effendy added.
Effendy remarked: “We also look forward to AIA’s strategic participation as a shareholder of the Touch ‘n Go eWallet company. Their involvement coincides with our continued evolution into deeper areas of financial services.”