Epost a Sabahan startup founded in 2018 that provides end-to-end e-commerce and logistics services in the domestic and international spheres. Some of its customers include Digital China Holdings, Shopee, Yunda Express, BGO Taiwan, and more.Now, the team has decided to launch a new value added service called Epost Protect, under which they will be offering general and life insurance coverage products to the Malaysian public. To accomplish this, they’ve partnered with Sabah Credit Corporation’s proprietary e-payment system called Sabah Pay and BIB Insurance Brokers Sdn Bhd.
Here’s the main problem that Epost is hoping to help with. The demand for buying life insurance in Malaysia is still lacking at only a 55% penetration rate. Meanwhile, Bank Negara Malaysia is targeting a 75% penetration in 2020, but two obstacles stand in the way: pricing and affordability.
With Epost’s insurance products placed on Sabah Pay, users will be able to easily apply for, buy, and make payments for their insurance premium. In terms of pricing, some examples of the insurance packages they offer are HLMT i-Hospital Care for RM250 a year, and HLMT i-Salam for RM150 a year. Do note that the rates might differ based on your entry age, but will remain level throughout your chosen coverage term.
With Epost’s insurance products placed on Sabah Pay, users will be able to easily apply for, buy, and make payments for their insurance premium. In terms of pricing, some examples of the insurance packages they offer are HLMT i-Hospital Care for RM250 a year, and HLMT i-Salam for RM150 a year. Do note that the rates might differ based on your entry age, but will remain level throughout your chosen coverage term.
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