Rahmah B40 Insurance Malaysia

Insurance technology company Gmat (pronounced “jimat”) Sdn Bhd has launched its “Insurance Rahmah” and two other insurance products.Insurance Rahmah is an affordable insurance product targeted particularly at B40 communities. It provides personal accident coverage of up to RM50,000 due to death or total permanent disability. It also covers dengue illness and death due to dengue.

The premium is only RM50 per year or RM4+ per month. There is a takaful and a non-takaful option.Gmat will work with DHRRA Malaysia to create awareness and promote Insurance Rahmah to unserved and underserved communities, and aims to have one million Malaysians insured within the next 12 months.

Informal survey conducted among urban poor communities revealed that only one out of 10 families have some form of insurance coverage. 

Gmat’s other new products are hiker’s insurance priced from RM3 for a three-day trip and car insurance comparison service offering between 10% and 30% in savings for renewal of car insurance. Digital road tax can also be purchased with zero service charge.