- Government allocates RM305mil for youths to start businesses
The allocation provides strong encouragement towards youth entrepreneurship and it should be applauded as it will help address unemployment, nurture young talent, and bring new growth opportunities to the economy.
One of Tune Protect’s business pillars targets SMEs to help mitigate against risk factors that come with owning a business. To further strengthen our offering to this underserved market and bridge the protection gap, we will be rolling out a new product targeted at SMEs, particularly for their employees within the next couple of months.
- Insurance Against Flood For B40
- The devasting floods in 2021 left many families financially vulnerable, especially those from the B40 group. As we continue to face extreme weather conditions, extending PTV to include flood protection for homes will help cushion the impact in the event of floods.
For Budget 2022, we supported the Perlindungan Tenang Voucher (PTV) by providing protection to a few hundred thousand PTV recipients and we are keen to continue to support the government on this newly added initiative. Tune Protect Malaysia through its product Home Easy, is the most affordable home protection product in the market, which already includes flood coverage. Hence, the extension will provide a safety net against financial losses due to floods.
- RM200 Million Tourism Spend On Promotion and Marketing
We are pleased that the Government is focusing its efforts on the travel industry to capture the market. Tune Protect has always had a strong foothold in the travel insurance space and we have improved our market share in Malaysia. We continue to be a critical player in the industry, and this has resulted in us moving from #18 to #5 in terms of Market Share & Rank within the Miscellaneous segment of Personal Accident and Travel in 2Q22 YoY based on the latest report by the Insurance Services Malaysia (ISM). We are confident that the efforts to promote Malaysia will increase the demand in travel protection.
- Tax Break For Women Returning to Work
We are an organisation that believes in diversity in the workforce by practicing gender equality in the ecosystem. A total 40% of members of Tune Protect’s Senior Leadership team are women, which brings us closer to achieving the Group’s commitment of having 50% women in the leadership team by 2023.
By having such an announcement by the government today, we applaud the initiative as we ourselves are encouraging more women in leadership roles. We encourage women to return to work after a career break and leverage the opportunities to grow their careers.
By Tune Protect CEO- Rohit
