Censof Holdings Bhd, through wholly-owned Censof Maal Sdn Bhd, has teamed up with OSCA Sdn Bhd (OSCA) on an online insurance offering.
Censof Maal and OSCA will develop an online insurance comparison portal whereby users will be able to compare and purchase life, general and medical insurance from various insurance providers at competitive rates.
The collaboration will also look into offering claims handling services to provide users with a hassle-free claims process.
Censof group managing director Ameer Shaik Mydin in a statement said backed by Censof’s expertise in technologies and OSCA’s in-depth knowledge of the insurance industry, the group was excited to include the insurance portal as part of its extensive financial management services.
“The big idea of this platform is to offer consumers an option where they are able to research and compare insurance products with the information provided by the respective insurers.
The direct engagement will fast-track the buying and claiming process as consumers will have complete control of choosing the insurances which suit them best, without much dependence on Agents,” Ameer said.
He added that Censof’s key markets will be the private and public sectors in Malaysia and Singapore, among others.
OSCA director Shadhana Sekaran said this was an opportune time for such strategic tie ups with like-minded partners such as Censof as the insurance industry was going through a digital transformation.
“The online insurance space in this region has huge untapped opportunities and we hope to be one of the first movers to utilise technology to redefine the traditional insurance industry,” she added.
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